Altair Engineering Inc. (NASDAQ:ALTR) CAO Sells $15,279.61 in Stock

Altair Engineering Inc. (NASDAQ:ALTR) CAO Brian Gayle sold 137 shares of the business’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $111.53, for a total transaction of $15,279.61. Following the transaction, the chief accounting officer now owns 18,374 shares in the company, valued at $2,049,252.22. This represents a 0.74 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Altair Engineering Price Performance

Shares of ALTR stock traded up $0.05 during trading hours on Thursday, reaching $111.65. 274,449 shares of the company’s stock were exchanged, compared to its average volume of 767,923. The company’s 50 day moving average is $110.21 and its two-hundred day moving average is $102.03. Altair Engineering Inc. has a 1 year low of $75.71 and a 1 year high of $113.12. The company has a market cap of $9.50 billion, a P/E ratio of 656.82, a price-to-earnings-growth ratio of 10.75 and a beta of 1.42.

Altair Engineering (NASDAQ:ALTR) last released its earnings results on Thursday, February 20th. The software reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.15). The company had revenue of $192.63 million during the quarter, compared to analyst estimates of $182.98 million. Altair Engineering had a return on equity of 8.08% and a net margin of 2.13%. As a group, analysts predict that Altair Engineering Inc. will post 0.87 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Fisher Asset Management LLC increased its position in shares of Altair Engineering by 27.0% during the 3rd quarter. Fisher Asset Management LLC now owns 401,612 shares of the software’s stock valued at $38,358,000 after purchasing an additional 85,303 shares during the period. Citigroup Inc. lifted its stake in shares of Altair Engineering by 141.0% in the third quarter. Citigroup Inc. now owns 50,518 shares of the software’s stock worth $4,825,000 after buying an additional 29,556 shares during the last quarter. Principal Financial Group Inc. increased its position in Altair Engineering by 1.7% in the 4th quarter. Principal Financial Group Inc. now owns 168,665 shares of the software’s stock worth $18,403,000 after buying an additional 2,872 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Altair Engineering in the third quarter valued at about $1,356,000. Finally, Versor Investments LP bought a new stake in Altair Engineering in the 3rd quarter valued at $487,000. 63.38% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ALTR has been the topic of a number of research analyst reports. Wolfe Research downgraded Altair Engineering from a “strong-buy” rating to a “hold” rating in a report on Sunday, November 3rd. Loop Capital reiterated a “hold” rating and set a $113.00 target price on shares of Altair Engineering in a research report on Thursday, October 31st. Royal Bank of Canada increased their price objective on shares of Altair Engineering from $90.00 to $113.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 31st. William Blair restated a “market perform” rating on shares of Altair Engineering in a research note on Thursday, October 31st. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Altair Engineering in a report on Friday, February 21st. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $100.83.

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.