Altair Engineering Inc. (NASDAQ:ALTR) Major Shareholder Sells $4,758,063.36 in Stock

Altair Engineering Inc. (NASDAQ:ALTR) major shareholder Christ Revocable Trust sold 50,048 shares of the business’s stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $95.07, for a total transaction of $4,758,063.36. Following the transaction, the insider now owns 149,952 shares in the company, valued at $14,255,936.64. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

Altair Engineering Stock Performance

Shares of ALTR stock opened at $94.83 on Thursday. The company has a market capitalization of $7.87 billion, a price-to-earnings ratio of 1,053.67, a PEG ratio of 12.01 and a beta of 1.45. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.14 and a current ratio of 3.14. The company has a 50-day simple moving average of $89.27 and a 200 day simple moving average of $89.26. Altair Engineering Inc. has a 52 week low of $57.59 and a 52 week high of $101.39.

Altair Engineering (NASDAQ:ALTR) last posted its quarterly earnings data on Thursday, August 1st. The software reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. The firm had revenue of $148.80 million during the quarter, compared to the consensus estimate of $146.88 million. Altair Engineering had a net margin of 4.26% and a return on equity of 6.89%. The business’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.15) EPS. On average, sell-side analysts predict that Altair Engineering Inc. will post 0.65 earnings per share for the current year.

Institutional Trading of Altair Engineering

A number of institutional investors have recently bought and sold shares of ALTR. Principal Financial Group Inc. boosted its holdings in Altair Engineering by 11.6% in the 4th quarter. Principal Financial Group Inc. now owns 6,268 shares of the software’s stock valued at $527,000 after purchasing an additional 653 shares during the period. Norges Bank bought a new stake in Altair Engineering in the 4th quarter valued at about $8,041,000. TD Asset Management Inc bought a new stake in Altair Engineering in the 4th quarter valued at about $2,255,000. Eagle Asset Management Inc. boosted its holdings in Altair Engineering by 1.5% in the 4th quarter. Eagle Asset Management Inc. now owns 211,021 shares of the software’s stock valued at $17,757,000 after purchasing an additional 3,088 shares during the period. Finally, Stephens Investment Management Group LLC bought a new stake in Altair Engineering in the 4th quarter valued at about $12,490,000. Institutional investors own 63.38% of the company’s stock.

Wall Street Analyst Weigh In

ALTR has been the topic of several recent analyst reports. The Goldman Sachs Group lowered shares of Altair Engineering from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $85.00 to $71.00 in a research note on Friday, August 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 target price on shares of Altair Engineering in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. downgraded shares of Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 target price for the company. in a report on Monday, July 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Altair Engineering presently has an average rating of “Hold” and an average target price of $90.67.

Altair Engineering Company Profile

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.