Altair Engineering Inc. (NASDAQ:ALTR) CAO Brian Gayle Sells 182 Shares

Altair Engineering Inc. (NASDAQ:ALTR) CAO Brian Gayle sold 182 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $111.30, for a total transaction of $20,256.60. Following the completion of the transaction, the chief accounting officer now owns 18,008 shares of the company’s stock, valued at $2,004,290.40. This represents a 1.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, March 3rd, Brian Gayle sold 184 shares of Altair Engineering stock. The shares were sold at an average price of $111.45, for a total transaction of $20,506.80.
• 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 transaction of $15,279.61.

Altair Engineering Price Performance

Altair Engineering stock opened at $111.67 on Thursday. Altair Engineering Inc. has a 12-month low of $75.71 and a 12-month high of $113.12. The stock has a market capitalization of $9.58 billion, a P/E ratio of 656.88, a P/E/G ratio of 10.75 and a beta of 1.45. The firm’s 50-day moving average is $110.86 and its two-hundred day moving average is $104.30.

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

Institutional Investors Weigh In On Altair Engineering

Hedge funds have recently modified their holdings of the company. Fisher Asset Management LLC boosted its stake in shares of Altair Engineering by 27.0% during the 3rd quarter. Fisher Asset Management LLC now owns 401,612 shares of the software’s stock worth $38,358,000 after purchasing an additional 85,303 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Altair Engineering by 1.7% in the fourth quarter. Principal Financial Group Inc. now owns 168,665 shares of the software’s stock worth $18,403,000 after acquiring an additional 2,872 shares during the last quarter. Citigroup Inc. boosted its position in shares of Altair Engineering by 141.0% in the third quarter. Citigroup Inc. now owns 50,518 shares of the software’s stock worth $4,825,000 after acquiring an additional 29,556 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Altair Engineering in the third quarter worth approximately $1,356,000. Finally, UMB Bank n.a. boosted its position in shares of Altair Engineering by 77.0% in the fourth quarter. UMB Bank n.a. now owns 285 shares of the software’s stock worth $31,000 after acquiring an additional 124 shares during the last quarter. 63.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ALTR. Needham & Company LLC reiterated a “hold” rating on shares of Altair Engineering in a report on Friday, February 21st. 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. One investment analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target 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.