Altair Engineering Inc. (NASDAQ:ALTR) CAO Brian Gayle Sells 137 Shares

Altair Engineering Inc. (NASDAQ:ALTR) CAO Brian Gayle sold 137 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $111.53, for a total transaction of $15,279.61. Following the transaction, the chief accounting officer now directly owns 18,374 shares of the company’s stock, valued at approximately $2,049,252.22. This trade represents a 0.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Altair Engineering Stock Down 0.1 %

Shares of Altair Engineering stock opened at $111.49 on Friday. Altair Engineering Inc. has a twelve month low of $75.71 and a twelve month high of $113.12. The company’s 50 day moving average is $110.29 and its 200 day moving average is $102.10. The company has a market cap of $9.49 billion, a price-to-earnings ratio of 655.82, a price-to-earnings-growth ratio of 10.75 and a beta of 1.42.

Altair Engineering (NASDAQ:ALTR) last issued its quarterly earnings data on Thursday, February 20th. The software reported $0.36 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.15). The firm had revenue of $192.63 million during the quarter, compared to the consensus estimate of $182.98 million. Altair Engineering had a return on equity of 8.08% and a net margin of 2.13%. Sell-side analysts expect that Altair Engineering Inc. will post 0.87 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on the stock. Needham & Company LLC restated a “hold” rating on shares of Altair Engineering in a report on Friday, February 21st. Wolfe Research cut shares of Altair Engineering from a “strong-buy” rating to a “hold” rating in a research report on Sunday, November 3rd. William Blair restated a “market perform” rating on shares of Altair Engineering in a report on Thursday, October 31st. Royal Bank of Canada boosted their price target on Altair Engineering from $90.00 to $113.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 31st. Finally, Rosenblatt Securities reiterated a “neutral” rating and set a $113.00 price objective on shares of Altair Engineering in a research note on Monday. One investment analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to MarketBeat.com, Altair Engineering currently has a consensus rating of “Hold” and an average price target of $100.83.

Hedge Funds Weigh In On Altair Engineering

Several institutional investors have recently made changes to their positions in ALTR. Magnetar Financial LLC purchased a new position in shares of Altair Engineering during the 4th quarter worth $62,142,000. Norges Bank bought a new position in shares of Altair Engineering in the fourth quarter worth approximately $37,899,000. Schonfeld Strategic Advisors LLC increased its stake in shares of Altair Engineering by 13,097.8% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 331,528 shares of the software’s stock worth $36,173,000 after purchasing an additional 329,016 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Altair Engineering by 4.8% during the 4th quarter. Vanguard Group Inc. now owns 6,894,230 shares of the software’s stock valued at $752,229,000 after purchasing an additional 317,575 shares during the period. Finally, Woodline Partners LP purchased a new position in shares of Altair Engineering during the 4th quarter valued at $32,733,000. Institutional investors own 63.38% of the company’s stock.

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.