Altair Engineering Inc. (NASDAQ:ALTR) Major Shareholder Sells $207,394.56 in Stock

Altair Engineering Inc. (NASDAQ:ALTR) major shareholder George J. Christ sold 2,176 shares of the stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $95.31, for a total transaction of $207,394.56. Following the completion of the sale, the insider now owns 300,000 shares of the company’s stock, valued at approximately $28,593,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Altair Engineering Price Performance

Shares of ALTR stock opened at $95.79 on Friday. The stock’s fifty day simple moving average is $91.25 and its 200 day simple moving average is $90.03. Altair Engineering Inc. has a one year low of $57.59 and a one year high of $101.39. The firm has a market cap of $7.95 billion, a price-to-earnings ratio of 1,064.33, a P/E/G ratio of 12.15 and a beta of 1.45. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.14 and a quick ratio of 3.14.

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

Institutional Trading of Altair Engineering

Several large investors have recently made changes to their positions in ALTR. GAMMA Investing LLC lifted its position in Altair Engineering by 81.7% during the 2nd quarter. GAMMA Investing LLC now owns 418 shares of the software’s stock worth $41,000 after buying an additional 188 shares in the last quarter. FSC Wealth Advisors LLC lifted its position in shares of Altair Engineering by 41.3% during the second quarter. FSC Wealth Advisors LLC now owns 832 shares of the software’s stock worth $82,000 after purchasing an additional 243 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of Altair Engineering by 41.7% during the second quarter. Van ECK Associates Corp now owns 1,057 shares of the software’s stock valued at $104,000 after purchasing an additional 311 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Altair Engineering in the first quarter valued at approximately $177,000. Finally, Ballentine Partners LLC bought a new position in Altair Engineering in the 2nd quarter worth approximately $202,000. Institutional investors own 63.38% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on ALTR. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price objective on shares of Altair Engineering in a research report on Friday, August 2nd. The Goldman Sachs Group cut Altair Engineering from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $85.00 to $71.00 in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. lowered shares of Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 price target on the stock. in a report on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, 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.