Altair Engineering Inc. (NASDAQ:ALTR) CEO James Ralph Scapa Sells 13,000 Shares

Altair Engineering Inc. (NASDAQ:ALTR) CEO James Ralph Scapa sold 13,000 shares of the company’s stock in a transaction on Friday, November 29th. The shares were sold at an average price of $105.69, for a total value of $1,373,970.00. Following the completion of the sale, the chief executive officer now owns 134,045 shares of the company’s stock, valued at approximately $14,167,216.05. This trade represents a 8.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

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

• On Monday, October 28th, James Ralph Scapa sold 13,000 shares of Altair Engineering stock. The shares were sold at an average price of $102.59, for a total value of $1,333,670.00.
• 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 value of $1,236,300.00.

Altair Engineering Stock Up 0.2 %

Shares of NASDAQ ALTR traded up $0.23 during mid-day trading on Monday, reaching $105.84. 391,510 shares of the company traded hands, compared to its average volume of 586,695. The company has a debt-to-equity ratio of 0.27, a quick ratio of 3.27 and a current ratio of 3.27. The stock has a market cap of $9.00 billion, a PE ratio of 276.82, a price-to-earnings-growth ratio of 12.14 and a beta of 1.44. The company’s fifty day moving average is $100.49 and its two-hundred day moving average is $94.60. Altair Engineering Inc. has a fifty-two week low of $70.07 and a fifty-two week high of $113.12.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. boosted its stake in Altair Engineering by 572.1% during the 3rd quarter. Blue Trust Inc. now owns 289 shares of the software’s stock valued at $28,000 after purchasing an additional 246 shares during the period. GAMMA Investing LLC boosted its stake in Altair Engineering by 81.7% during the 2nd quarter. GAMMA Investing LLC now owns 418 shares of the software’s stock valued at $41,000 after purchasing an additional 188 shares during the period. FSC Wealth Advisors LLC boosted its stake in Altair Engineering by 41.3% during the 2nd quarter. FSC Wealth Advisors LLC now owns 832 shares of the software’s stock valued at $82,000 after purchasing an additional 243 shares during the period. Van ECK Associates Corp boosted its stake in Altair Engineering by 41.7% during the 2nd quarter. Van ECK Associates Corp now owns 1,057 shares of the software’s stock valued at $104,000 after purchasing an additional 311 shares during the period. Finally, KBC Group NV boosted its stake in Altair Engineering by 17.9% during the 3rd quarter. KBC Group NV now owns 1,640 shares of the software’s stock valued at $157,000 after purchasing an additional 249 shares during the period. Institutional investors and hedge funds own 63.38% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the company. Rosenblatt Securities upped their target price on Altair Engineering from $88.00 to $113.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Royal Bank of Canada increased their price objective on Altair Engineering from $90.00 to $113.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 31st. Needham & Company LLC reissued a “hold” rating and issued a $100.00 price objective on shares of Altair Engineering in a research note on Thursday, October 31st. Wolfe Research downgraded Altair Engineering from a “strong-buy” rating to a “hold” rating in a research note on Sunday, November 3rd. Finally, Loop Capital reissued a “hold” rating and issued a $113.00 price objective on shares of Altair Engineering in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Altair Engineering has a consensus rating of “Hold” and a consensus price target 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.