Altair Engineering Inc. (NASDAQ:ALTR) CAO Sells 184 Shares of Stock

Altair Engineering Inc. (NASDAQ:ALTR) CAO Brian Gayle sold 184 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $111.45, for a total value of $20,506.80. Following the completion of the sale, the chief accounting officer now owns 18,190 shares in the company, valued at approximately $2,027,275.50. This trade represents a 1.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Brian Gayle also recently made the following trade(s):

• On Wednesday, February 26th, Brian Gayle sold 137 shares of Altair Engineering stock. The shares were sold at an average price of $111.53, for a total value of $15,279.61.

Altair Engineering Stock Performance

NASDAQ:ALTR traded up $0.05 during mid-day trading on Wednesday, reaching $111.39. 135,343 shares of the company’s stock were exchanged, compared to its average volume of 760,628. Altair Engineering Inc. has a one year low of $75.71 and a one year high of $113.12. The business’s fifty day simple moving average is $110.44 and its two-hundred day simple moving average is $102.73. The firm has a market capitalization of $9.56 billion, a PE ratio of 655.38, a price-to-earnings-growth ratio of 10.75 and a beta of 1.45.

Altair Engineering (NASDAQ:ALTR) last released its earnings results on Thursday, February 20th. The software reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.15). The company had revenue of $192.63 million for the quarter, compared to the consensus estimate of $182.98 million. Altair Engineering had a net margin of 2.13% and a return on equity of 8.08%. As a group, equities research analysts forecast that Altair Engineering Inc. will post 0.87 EPS for the current year.

Hedge Funds Weigh In On Altair Engineering

A number of institutional investors have recently modified their holdings of ALTR. NBT Bank N A NY boosted its position in shares of Altair Engineering by 76.4% during the 4th quarter. NBT Bank N A NY now owns 247 shares of the software’s stock valued at $27,000 after purchasing an additional 107 shares in the last quarter. UMB Bank n.a. boosted its holdings in shares of Altair Engineering by 77.0% in the 4th quarter. UMB Bank n.a. now owns 285 shares of the software’s stock worth $31,000 after buying an additional 124 shares during the last quarter. Johnson Financial Group Inc. bought a new stake in shares of Altair Engineering in the fourth quarter valued at $37,000. GAMMA Investing LLC boosted its position in Altair Engineering by 14.6% during the fourth quarter. GAMMA Investing LLC now owns 729 shares of the software’s stock worth $80,000 after purchasing an additional 93 shares during the period. Finally, Blue Trust Inc. raised its position in shares of Altair Engineering by 185.5% in the fourth quarter. Blue Trust Inc. now owns 825 shares of the software’s stock valued at $90,000 after purchasing an additional 536 shares during the period. Institutional investors and hedge funds own 63.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ALTR shares. Rosenblatt Securities restated a “neutral” rating and set a $113.00 target price on shares of Altair Engineering in a report on Monday, February 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of Altair Engineering in a research report on Friday, February 21st. One analyst has rated the stock with a sell rating and seven have given a hold rating to the company. According to data from MarketBeat.com, Altair Engineering currently has a consensus rating of “Hold” and a consensus target price of $100.83.

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.