Insider Selling: Altair Engineering Inc. (NASDAQ:ALTR) CAO Sells 137 Shares of Stock

Altair Engineering Inc. (NASDAQ:ALTR) CAO Brian Gayle sold 137 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $111.53, for a total value of $15,279.61. Following the completion of the transaction, the chief accounting officer now owns 18,374 shares of the company’s stock, valued at $2,049,252.22. The trade was a 0.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Altair Engineering Stock Down 0.1 %

ALTR 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 stock has a market capitalization 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. The firm’s fifty day simple moving average is $110.29 and its two-hundred day simple moving average is $102.10.

Altair Engineering (NASDAQ:ALTR) last posted its quarterly earnings data on Thursday, February 20th. The software reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $182.98 million. As a group, equities research analysts expect that Altair Engineering Inc. will post 0.87 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on ALTR shares. Rosenblatt Securities restated a “neutral” rating and set a $113.00 price objective on shares of Altair Engineering in a research report on Monday. William Blair reaffirmed a “market perform” rating on shares of Altair Engineering in a research note on Thursday, October 31st. Royal Bank of Canada increased their target price on Altair Engineering from $90.00 to $113.00 and gave the company a “sector perform” rating in a research report on Thursday, October 31st. Needham & Company LLC restated a “hold” rating on shares of Altair Engineering in a research report on Friday, February 21st. 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 equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $100.83.

Institutional Investors Weigh In On Altair Engineering

Several hedge funds have recently modified their holdings of ALTR. Magnetar Financial LLC bought a new stake in Altair Engineering during the 4th quarter valued at $62,142,000. Norges Bank bought a new stake in Altair Engineering during 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 purchasing an additional 329,016 shares during the last quarter. Vanguard Group Inc. grew its holdings in Altair Engineering by 4.8% in the fourth quarter. Vanguard Group Inc. now owns 6,894,230 shares of the software’s stock worth $752,229,000 after purchasing an additional 317,575 shares during the last quarter. Finally, Woodline Partners LP acquired a new position in shares of Altair Engineering during the fourth quarter worth $32,733,000. Hedge funds and other 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.