Altair Engineering Inc. (NASDAQ:ALTR – Get Free Report) CEO James Ralph Scapa sold 13,000 shares of the business’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $98.26, for a total transaction of $1,277,380.00. Following the completion of the transaction, the chief executive officer now directly owns 134,045 shares of the company’s stock, valued at approximately $13,171,261.70. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
James Ralph Scapa also recently made the following trade(s):
- On Monday, June 10th, James Ralph Scapa sold 13,000 shares of Altair Engineering stock. The stock was sold at an average price of $93.16, for a total value of $1,211,080.00.
- On Wednesday, May 8th, James Ralph Scapa sold 5,560 shares of Altair Engineering stock. The shares were sold at an average price of $84.37, for a total value of $469,097.20.
Altair Engineering Price Performance
ALTR stock opened at $98.14 on Thursday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.46 and a quick ratio of 2.46. Altair Engineering Inc. has a 1 year low of $57.59 and a 1 year high of $100.79. The firm has a 50-day moving average of $90.66 and a 200 day moving average of $86.41. The company has a market cap of $8.15 billion, a P/E ratio of 1,090.44, a PEG ratio of 12.34 and a beta of 1.48.
Wall Street Analyst Weigh In
Several research firms have commented on ALTR. Royal Bank of Canada reissued a “sector perform” rating and set a $90.00 price target on shares of Altair Engineering in a research note on Thursday, March 21st. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price target on shares of Altair Engineering in a research note on Friday, May 3rd. Rosenblatt Securities reiterated a “neutral” rating and issued a $88.00 price objective on shares of Altair Engineering in a report on Monday, April 29th. Finally, JPMorgan Chase & Co. increased their target price on Altair Engineering from $86.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, March 26th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Altair Engineering presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.60.
Check Out Our Latest Stock Report on Altair Engineering
Institutional Trading of Altair Engineering
Hedge funds have recently modified their holdings of the business. Matrix Capital Management Company LP lifted its position in Altair Engineering by 1.6% during the 1st quarter. Matrix Capital Management Company LP now owns 12,430,000 shares of the software’s stock valued at $1,070,844,000 after acquiring an additional 196,826 shares during the period. Vanguard Group Inc. increased its stake in Altair Engineering by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 5,944,285 shares of the software’s stock valued at $512,100,000 after purchasing an additional 182,840 shares in the last quarter. Conestoga Capital Advisors LLC increased its position in shares of Altair Engineering by 0.6% during the first quarter. Conestoga Capital Advisors LLC now owns 2,440,081 shares of the software’s stock valued at $210,213,000 after acquiring an additional 15,370 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Altair Engineering by 97.3% in the fourth quarter. Wellington Management Group LLP now owns 1,182,339 shares of the software’s stock worth $99,494,000 after purchasing an additional 583,127 shares during the last quarter. Finally, Ameriprise Financial Inc. raised its position in Altair Engineering by 22.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 951,698 shares of the software’s stock worth $59,538,000 after buying an additional 176,780 shares during the last quarter. Institutional investors own 63.38% of the company’s stock.
About Altair Engineering
Altair Engineering Inc, together with its subsidiaries, provides software and cloud solutions in the areas of simulation and design, high-performance computing, data analytics, and artificial intelligence in the United States and internationally. It operates in two segments, Software and Client Engineering Services.
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