Insider Selling: Altair Engineering Inc. (NASDAQ:ALTR) CEO Sells 13,000 Shares of Stock

Altair Engineering Inc. (NASDAQ:ALTR) CEO James Ralph Scapa sold 13,000 shares of the business’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $102.59, for a total transaction of $1,333,670.00. Following the completion of the sale, the chief executive officer now directly owns 134,045 shares in the company, valued at approximately $13,751,676.55. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Monday, September 30th, James Ralph Scapa sold 13,000 shares of Altair Engineering stock. The shares were sold at an average price of $95.10, for a total transaction of $1,236,300.00.
• On Wednesday, August 28th, James Ralph Scapa sold 13,000 shares of Altair Engineering stock. The shares were sold at an average price of $89.04, for a total value of $1,157,520.00.

Altair Engineering Trading Down 4.3 %

ALTR stock opened at $103.99 on Friday. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.14 and a current ratio of 3.14. The company’s 50-day simple moving average is $94.03 and its 200 day simple moving average is $91.38. Altair Engineering Inc. has a 52 week low of $57.59 and a 52 week high of $113.12. The company has a market capitalization of $8.63 billion, a PE ratio of 1,155.44, a price-to-earnings-growth ratio of 12.15 and a beta of 1.45.

Altair Engineering (NASDAQ:ALTR) last released its earnings results on Wednesday, October 30th. The software reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.07. The company had revenue of $151.45 million for the quarter, compared to analyst estimates of $146.55 million. Altair Engineering had a return on equity of 6.89% and a net margin of 4.26%. As a group, sell-side analysts anticipate that Altair Engineering Inc. will post 0.65 earnings per share for the current year.

Institutional Investors Weigh In On Altair Engineering

A number of hedge funds have recently made changes to their positions in ALTR. Matrix Capital Management Company LP boosted its holdings in shares of Altair Engineering by 1.6% during the 1st quarter. Matrix Capital Management Company LP now owns 12,430,000 shares of the software’s stock valued at $1,070,844,000 after acquiring an additional 196,826 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of Altair Engineering by 3.2% during the first quarter. Vanguard Group Inc. now owns 5,944,285 shares of the software’s stock valued at $512,100,000 after purchasing an additional 182,840 shares in the last quarter. Conestoga Capital Advisors LLC boosted its stake in shares of Altair Engineering by 1.4% during the third quarter. Conestoga Capital Advisors LLC now owns 2,522,551 shares of the software’s stock valued at $240,929,000 after purchasing an additional 33,985 shares in the last quarter. William Blair Investment Management LLC acquired a new stake in shares of Altair Engineering during the second quarter valued at about $91,589,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of Altair Engineering by 121.7% during the second quarter. Bank of New York Mellon Corp now owns 569,109 shares of the software’s stock valued at $55,818,000 after purchasing an additional 312,448 shares in the last quarter. 63.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ALTR has been the subject of a number of analyst reports. JPMorgan Chase & Co. downgraded Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 price target for the company. in a research note on Monday, July 15th. The Goldman Sachs Group lowered Altair Engineering from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $85.00 to $71.00 in a research report on Friday, August 2nd. William Blair restated a “market perform” rating on shares of Altair Engineering in a report on Thursday. Needham & Company LLC restated a “hold” rating and set a $100.00 target price on shares of Altair Engineering in a report on Thursday. Finally, Loop Capital restated a “hold” rating and set a $113.00 price objective on shares of Altair Engineering in a research note on Thursday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, Altair Engineering presently has a consensus rating of “Hold” and a consensus target price of $100.71.

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.