George J. Christ Sells 2,176 Shares of Altair Engineering Inc. (NASDAQ:ALTR) Stock

Altair Engineering Inc. (NASDAQ:ALTR) major shareholder George J. Christ sold 2,176 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $95.31, for a total transaction of $207,394.56. Following the sale, the insider now owns 300,000 shares of the company’s stock, valued at approximately $28,593,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Altair Engineering Price Performance

Shares of ALTR stock opened at $94.88 on Thursday. The company has a market capitalization of $7.88 billion, a PE ratio of 1,054.22, a price-to-earnings-growth ratio of 12.15 and a beta of 1.45. The firm has a fifty day simple moving average of $91.12 and a 200-day simple moving average of $89.99. The company has a current ratio of 3.14, a quick ratio of 3.14 and a debt-to-equity ratio of 0.29. Altair Engineering Inc. has a twelve month low of $57.59 and a twelve month high of $101.39.

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

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. 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 note on Monday, July 15th. The Goldman Sachs Group downgraded shares of Altair Engineering from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $85.00 to $71.00 in a research note on Friday, August 2nd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $100.00 price objective on shares of Altair Engineering in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $90.67.

Institutional Trading of Altair Engineering

Several institutional investors have recently added to or reduced their stakes in ALTR. William Blair Investment Management LLC acquired a new stake in Altair Engineering in the second quarter valued at $91,589,000. Wellington Management Group LLP raised its holdings in Altair Engineering by 97.3% in the fourth quarter. Wellington Management Group LLP now owns 1,182,339 shares of the software’s stock valued at $99,494,000 after acquiring an additional 583,127 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Altair Engineering by 121.7% in the second quarter. Bank of New York Mellon Corp now owns 569,109 shares of the software’s stock valued at $55,818,000 after acquiring an additional 312,448 shares in the last quarter. Jane Street Group LLC raised its holdings in Altair Engineering by 960.2% in the first quarter. Jane Street Group LLC now owns 303,672 shares of the software’s stock valued at $26,161,000 after acquiring an additional 275,030 shares in the last quarter. Finally, Matrix Capital Management Company LP raised its holdings in Altair Engineering by 1.6% in the first quarter. Matrix Capital Management Company LP now owns 12,430,000 shares of the software’s stock valued at $1,070,844,000 after acquiring an additional 196,826 shares in the last quarter. 63.38% of the stock is owned by institutional investors and hedge funds.

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.