James Ralph Scapa Sells 16,095 Shares of Altair Engineering Inc. (NASDAQ:ALTR) Stock

Altair Engineering Inc. (NASDAQ:ALTR) CEO James Ralph Scapa sold 16,095 shares of the stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $105.65, for a total transaction of $1,700,436.75. Following the completion of the transaction, the chief executive officer now directly owns 117,950 shares of the company’s stock, valued at $12,461,417.50. This trade represents a 12.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

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

• On Friday, November 29th, James Ralph Scapa sold 13,000 shares of Altair Engineering stock. The shares were sold at an average price of $105.69, for a total value of $1,373,970.00.
• On Monday, October 28th, James Ralph Scapa sold 13,000 shares of Altair Engineering stock. The shares were sold at an average price of $102.59, for a total value of $1,333,670.00.
• On Monday, September 30th, James Ralph Scapa sold 13,000 shares of Altair Engineering stock. The stock was sold at an average price of $95.10, for a total value of $1,236,300.00.

Altair Engineering Stock Up 0.4 %

Shares of ALTR opened at $106.17 on Friday. The business’s fifty day moving average price is $101.63 and its two-hundred day moving average price is $95.06. The firm has a market capitalization of $9.03 billion, a price-to-earnings ratio of 279.40, a PEG ratio of 12.10 and a beta of 1.44. Altair Engineering Inc. has a 52 week low of $70.07 and a 52 week high of $113.12. The company has a debt-to-equity ratio of 0.27, a quick ratio of 3.27 and a current ratio of 3.27.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ALTR shares. Loop Capital reaffirmed a “hold” rating and issued a $113.00 target price on shares of Altair Engineering in a report on Thursday, October 31st. Needham & Company LLC reaffirmed a “hold” rating and set a $100.00 price objective on shares of Altair Engineering in a report on Thursday, October 31st. Rosenblatt Securities increased their price target on Altair Engineering from $88.00 to $113.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Wolfe Research downgraded Altair Engineering from a “strong-buy” rating to a “hold” rating in a research report on Sunday, November 3rd. Finally, William Blair restated a “market perform” rating on shares of Altair Engineering in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, Altair Engineering currently has an average rating of “Hold” and a consensus target price of $100.71.

Hedge Funds Weigh In On Altair Engineering

Hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. raised its holdings in Altair Engineering by 572.1% during the 3rd quarter. Blue Trust Inc. now owns 289 shares of the software’s stock worth $28,000 after purchasing an additional 246 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Altair Engineering by 81.7% during the second quarter. GAMMA Investing LLC now owns 418 shares of the software’s stock worth $41,000 after purchasing an additional 188 shares in the last quarter. FSC Wealth Advisors LLC lifted its holdings in 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 acquiring an additional 243 shares in the last quarter. Van ECK Associates Corp grew 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 acquiring an additional 311 shares during the period. Finally, KBC Group NV increased its holdings in shares of Altair Engineering by 17.9% in the third quarter. KBC Group NV now owns 1,640 shares of the software’s stock worth $157,000 after acquiring an additional 249 shares in the last quarter. Institutional investors own 63.38% of the company’s stock.

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.