Altair Engineering Inc. (NASDAQ:ALTR) CRO Nelson Dias Sells 1,671 Shares

Altair Engineering Inc. (NASDAQ:ALTR) CRO Nelson Dias sold 1,671 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $111.30, for a total value of $185,982.30. Following the completion of the sale, the executive now directly owns 55,411 shares in the company, valued at $6,167,244.30. This represents a 2.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Nelson Dias also recently made the following trade(s):

• On Monday, March 3rd, Nelson Dias sold 491 shares of Altair Engineering stock. The shares were sold at an average price of $111.45, for a total value of $54,721.95.
• On Wednesday, February 26th, Nelson Dias sold 373 shares of Altair Engineering stock. The stock was sold at an average price of $111.53, for a total value of $41,600.69.

Altair Engineering Stock Up 0.2 %

ALTR stock opened at $111.67 on Thursday. The company has a market cap of $9.58 billion, a P/E ratio of 656.88, a PEG ratio of 10.75 and a beta of 1.45. Altair Engineering Inc. has a twelve month low of $75.71 and a twelve month high of $113.12. The business has a fifty day moving average of $110.86 and a 200-day moving average of $104.30.

Altair Engineering (NASDAQ:ALTR) last released its quarterly earnings data on Thursday, February 20th. The software reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.15). The company had revenue of $192.63 million during 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 anticipate that Altair Engineering Inc. will post 0.87 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on ALTR shares. Needham & Company LLC reissued a “hold” rating on shares of Altair Engineering in a research note on Friday, February 21st. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $113.00 price target on shares of Altair Engineering in a research note on Monday, February 24th. One research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $100.83.

Institutional Investors Weigh In On Altair Engineering

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Magnetar Financial LLC acquired a new position in Altair Engineering in the fourth quarter valued at about $62,142,000. Norges Bank acquired a new position in Altair Engineering in the fourth quarter valued at about $37,899,000. Schonfeld Strategic Advisors LLC grew its stake in Altair Engineering by 13,097.8% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 331,528 shares of the software’s stock valued at $36,173,000 after acquiring an additional 329,016 shares during the period. Vanguard Group Inc. grew its stake in Altair Engineering by 4.8% in the fourth quarter. Vanguard Group Inc. now owns 6,894,230 shares of the software’s stock valued at $752,229,000 after acquiring an additional 317,575 shares during the period. Finally, Woodline Partners LP acquired a new position in Altair Engineering in the fourth quarter valued at about $32,733,000. 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.