Altair Engineering Inc. (NASDAQ:ALTR) CEO Sells $1,236,300.00 in Stock

Altair Engineering Inc. (NASDAQ:ALTR) CEO James Ralph Scapa sold 13,000 shares of the stock in a transaction on Monday, September 30th. The shares were sold at an average price of $95.10, for a total value of $1,236,300.00. Following the completion of the transaction, the chief executive officer now directly owns 134,045 shares in the company, valued at approximately $12,747,679.50. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.

James Ralph Scapa also recently made the following trade(s):

• On Wednesday, August 28th, James Ralph Scapa sold 13,000 shares of Altair Engineering stock. The stock was sold at an average price of $89.04, for a total value of $1,157,520.00.
• On Monday, July 29th, James Ralph Scapa sold 13,000 shares of Altair Engineering stock. The stock was sold at an average price of $88.11, for a total value of $1,145,430.00.

Altair Engineering Price Performance

NASDAQ ALTR opened at $93.94 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.14 and a current ratio of 3.14. Altair Engineering Inc. has a 52-week low of $57.59 and a 52-week high of $101.39. The business has a 50 day simple moving average of $89.27 and a 200 day simple moving average of $89.26. The stock has a market cap of $7.80 billion, a price-to-earnings ratio of 1,043.78, a PEG ratio of 12.01 and a beta of 1.45.

Altair Engineering (NASDAQ:ALTR) last issued its quarterly earnings data on Thursday, August 1st. The software reported $0.16 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.01. The company 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 firm’s revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.15) earnings per share. Analysts anticipate that Altair Engineering Inc. will post 0.65 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ALTR. SG Americas Securities LLC acquired a new stake in Altair Engineering in the 3rd quarter valued at approximately $1,055,000. Sanctuary Advisors LLC acquired a new stake in shares of Altair Engineering in the second quarter valued at approximately $293,000. Teachers Retirement System of The State of Kentucky lifted its position in shares of Altair Engineering by 59.9% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 26,261 shares of the software’s stock worth $2,576,000 after purchasing an additional 9,834 shares in the last quarter. Creative Planning boosted its holdings in Altair Engineering by 97.3% during the second quarter. Creative Planning now owns 10,648 shares of the software’s stock worth $1,044,000 after purchasing an additional 5,252 shares during the last quarter. Finally, Algert Global LLC bought a new position in Altair Engineering in the second quarter valued at $562,000. 63.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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