Altair Engineering Inc. (NASDAQ:ALTR) CRO Sells $185,982.30 in Stock

Altair Engineering Inc. (NASDAQ:ALTR) CRO Nelson Dias sold 1,671 shares of the company’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $111.30, for a total value of $185,982.30. Following the transaction, the executive now directly owns 55,411 shares of the company’s stock, valued at $6,167,244.30. This represents a 2.93 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available 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 stock was 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 Trading Up 0.2 %

Shares of ALTR opened at $111.67 on Thursday. The company has a market capitalization of $9.58 billion, a PE ratio of 656.88, a PEG 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. The stock’s 50-day moving average price is $110.86 and its two-hundred day moving average price is $104.30.

Altair Engineering (NASDAQ:ALTR) last announced its earnings results on Thursday, February 20th. The software reported $0.36 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.15). The company had revenue of $192.63 million for 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%. Equities research analysts predict that Altair Engineering Inc. will post 0.87 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ALTR. NBT Bank N A NY lifted its stake in shares of Altair Engineering by 76.4% in the 4th quarter. NBT Bank N A NY now owns 247 shares of the software’s stock valued at $27,000 after purchasing an additional 107 shares during the period. UMB Bank n.a. raised its stake in Altair Engineering by 77.0% during the 4th quarter. UMB Bank n.a. now owns 285 shares of the software’s stock worth $31,000 after buying an additional 124 shares during the period. Johnson Financial Group Inc. acquired a new position in Altair Engineering during the 4th quarter worth approximately $37,000. GAMMA Investing LLC raised its stake in Altair Engineering by 14.6% during the 4th quarter. GAMMA Investing LLC now owns 729 shares of the software’s stock worth $80,000 after buying an additional 93 shares during the period. Finally, Blue Trust Inc. raised its stake in Altair Engineering by 185.5% during the 4th quarter. Blue Trust Inc. now owns 825 shares of the software’s stock worth $90,000 after buying an additional 536 shares during the period. 63.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ALTR. Rosenblatt Securities restated a “neutral” rating and issued a $113.00 price objective on shares of Altair Engineering in a research note on Monday, February 24th. Needham & Company LLC restated a “hold” rating on shares of Altair Engineering in a research note on Friday, February 21st. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $100.83.

About Altair Engineering

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.