Insider Selling: Altair Engineering Inc. (NASDAQ:ALTR) CEO Sells 13,000 Shares of Stock

Altair Engineering Inc. (NASDAQ:ALTR) CEO James Ralph Scapa sold 13,000 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $89.04, for a total transaction of $1,157,520.00. Following the completion of the transaction, the chief executive officer now owns 134,045 shares of the company’s stock, valued at approximately $11,935,366.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• 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 transaction of $1,145,430.00.
• 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 transaction of $1,277,380.00.
• On Monday, June 10th, James Ralph Scapa sold 13,000 shares of Altair Engineering stock. The stock was sold at an average price of $93.16, for a total transaction of $1,211,080.00.

Altair Engineering Trading Up 0.7 %

Shares of NASDAQ:ALTR traded up $0.65 during mid-day trading on Thursday, reaching $89.51. 91,111 shares of the company were exchanged, compared to its average volume of 489,103. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.46 and a quick ratio of 2.46. Altair Engineering Inc. has a 1 year low of $57.59 and a 1 year high of $101.39. The firm has a market cap of $7.43 billion, a price-to-earnings ratio of 987.33, a P/E/G ratio of 10.73 and a beta of 1.48. The firm’s 50-day simple moving average is $92.06 and its 200 day simple moving average is $88.36.

Altair Engineering (NASDAQ:ALTR) last released 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 business had revenue of $148.80 million during the quarter, compared to analysts’ expectations of $146.88 million. Altair Engineering had a net margin of 4.26% and a return on equity of 7.11%. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period in the previous year, the company earned ($0.15) EPS. Equities research analysts forecast that Altair Engineering Inc. will post 0.66 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Needham & Company LLC reissued a “buy” rating and set a $100.00 target price on shares of Altair Engineering in a research note on Friday, August 2nd. JPMorgan Chase & Co. cut shares of Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 target price for the company. in a research note on Monday, July 15th. Finally, The Goldman Sachs Group cut shares of Altair Engineering from a “neutral” rating to a “sell” rating and cut their target price for the stock from $85.00 to $71.00 in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $90.67.

Institutional Investors Weigh In On Altair Engineering

Institutional investors have recently modified their holdings of the company. EdgeRock Capital LLC acquired a new stake in Altair Engineering during the 4th quarter worth $33,000. GAMMA Investing LLC raised its stake 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 acquiring an additional 188 shares in the last quarter. FSC Wealth Advisors LLC raised 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 worth $82,000 after acquiring an additional 243 shares in the last quarter. Van ECK Associates Corp increased its stake in Altair Engineering by 41.7% in 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 period. Finally, Natixis Investment Managers International increased its stake in Altair Engineering by 68.7% in the fourth quarter. Natixis Investment Managers International now owns 1,940 shares of the software’s stock valued at $163,000 after purchasing an additional 790 shares during the period. 63.38% of the stock is owned by hedge funds and other institutional investors.

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.