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

Altair Engineering Inc. (NASDAQ:ALTR) CAO Brian Gayle sold 182 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $111.30, for a total transaction of $20,256.60. Following the completion of the sale, the chief accounting officer now directly owns 18,008 shares in the company, valued at $2,004,290.40. This represents a 1.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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 Trading Up 0.2 %

Shares of NASDAQ:ALTR opened at $111.67 on Thursday. The company has a fifty day simple moving average of $110.86 and a 200 day simple moving average of $104.30. The firm has a market cap of $9.58 billion, a PE ratio of 656.88, a price-to-earnings-growth ratio of 10.75 and a beta of 1.45. Altair Engineering Inc. has a 12-month low of $75.71 and a 12-month high of $113.12.

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 business had revenue of $192.63 million during the quarter, compared to analyst estimates of $182.98 million. Altair Engineering had a return on equity of 8.08% and a net margin of 2.13%. As a group, equities research analysts forecast that Altair Engineering Inc. will post 0.87 EPS for the current fiscal year.

Hedge Funds Weigh In On Altair Engineering

A number of hedge funds have recently added to or reduced their stakes in the business. Magnetar Financial LLC acquired a new position in shares of Altair Engineering during the fourth quarter valued at $62,142,000. Norges Bank acquired a new position in shares of Altair Engineering during the fourth quarter valued at $37,899,000. Schonfeld Strategic Advisors LLC boosted its holdings in shares of Altair Engineering by 13,097.8% during 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. boosted its holdings in shares of Altair Engineering by 4.8% during 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 shares of Altair Engineering during the fourth quarter valued at $32,733,000. Institutional investors and hedge funds own 63.38% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on ALTR. Needham & Company LLC reaffirmed a “hold” rating on shares of Altair Engineering in a research report on Friday, February 21st. Rosenblatt Securities reiterated a “neutral” rating and set a $113.00 price objective on shares of Altair Engineering in a research note on Monday, February 24th. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price 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.