Altair Engineering Inc. (NASDAQ:ALTR) CEO Sells $1,145,430.00 in Stock

Altair Engineering Inc. (NASDAQ:ALTR) CEO James Ralph Scapa sold 13,000 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $88.11, for a total transaction of $1,145,430.00. Following the sale, the chief executive officer now owns 134,045 shares of the company’s stock, valued at $11,810,704.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Friday, June 28th, James Ralph Scapa sold 13,000 shares of Altair Engineering stock. The stock was sold at an average price of $98.26, for a total value of $1,277,380.00.
• On Monday, June 10th, James Ralph Scapa sold 13,000 shares of Altair Engineering stock. The shares were 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 stock was sold at an average price of $84.37, for a total value of $469,097.20.

Altair Engineering Stock Down 0.6 %

Shares of ALTR traded down $0.49 during trading hours on Tuesday, reaching $86.85. The stock had a trading volume of 267,471 shares, compared to its average volume of 497,595. The company has a market capitalization of $7.21 billion, a price-to-earnings ratio of 970.44, a P/E/G ratio of 11.03 and a beta of 1.48. The firm has a 50-day simple moving average of $93.77 and a 200 day simple moving average of $88.16. The company has a current ratio of 2.46, a quick ratio of 2.46 and a debt-to-equity ratio of 0.30. Altair Engineering Inc. has a 12 month low of $57.59 and a 12 month high of $101.39.

Altair Engineering (NASDAQ:ALTR) last released its quarterly earnings data on Thursday, May 2nd. The software reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.06. The firm had revenue of $172.91 million for the quarter, compared to analyst estimates of $169.29 million. Altair Engineering had a net margin of 1.55% and a return on equity of 5.60%. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period last year, the firm earned $0.13 earnings per share. Equities research analysts predict that Altair Engineering Inc. will post 0.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Altair Engineering

A number of hedge funds have recently added to or reduced their stakes in the stock. EdgeRock Capital LLC purchased a new stake in shares of Altair Engineering in the fourth quarter worth approximately $33,000. GAMMA Investing LLC raised its position in Altair Engineering by 81.7% in the 2nd quarter. GAMMA Investing LLC now owns 418 shares of the software’s stock valued at $41,000 after buying an additional 188 shares during the last quarter. FSC Wealth Advisors LLC lifted its stake in Altair Engineering by 41.3% during the 2nd quarter. FSC Wealth Advisors LLC now owns 832 shares of the software’s stock valued at $82,000 after acquiring an additional 243 shares in the last quarter. Harvest Fund Management Co. Ltd boosted its holdings in Altair Engineering by 1,157.7% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 981 shares of the software’s stock worth $83,000 after acquiring an additional 903 shares during the last quarter. Finally, Natixis Investment Managers International grew its stake in shares of Altair Engineering by 68.7% in the 4th quarter. Natixis Investment Managers International now owns 1,940 shares of the software’s stock worth $163,000 after acquiring an additional 790 shares in the last quarter. Institutional investors and hedge funds own 63.38% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on ALTR shares. JPMorgan Chase & Co. downgraded shares of Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 price objective for the company. in a research report on Monday, July 15th. Needham & Company LLC restated a “buy” rating and issued a $100.00 price target on shares of Altair Engineering in a report on Friday, May 3rd. Finally, Rosenblatt Securities reiterated a “neutral” rating and set a $88.00 price objective on shares of Altair Engineering in a report on Monday, April 29th. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $94.60.

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.