Altair Engineering Inc. (NASDAQ:ALTR) CFO Sells $82,695.90 in Stock

Altair Engineering Inc. (NASDAQ:ALTR) CFO Matthew Charles Brown sold 742 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $111.45, for a total transaction of $82,695.90. Following the completion of the transaction, the chief financial officer now directly owns 68,652 shares in the company, valued at $7,651,265.40. This trade represents a 1.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

Matthew Charles Brown also recently made the following trade(s):

• On Wednesday, February 26th, Matthew Charles Brown sold 3,811 shares of Altair Engineering stock. The shares were sold at an average price of $111.53, for a total transaction of $425,040.83.
• On Monday, December 23rd, Matthew Charles Brown sold 1,048 shares of Altair Engineering stock. The shares were sold at an average price of $108.90, for a total value of $114,127.20.

Altair Engineering Stock Performance

Shares of NASDAQ:ALTR traded up $0.05 during midday trading on Wednesday, reaching $111.39. The company had a trading volume of 135,343 shares, compared to its average volume of 760,628. The company has a fifty day simple moving average of $110.44 and a two-hundred day simple moving average of $102.73. The firm has a market cap of $9.56 billion, a price-to-earnings ratio of 655.38, a price-to-earnings-growth ratio of 10.75 and a beta of 1.45. Altair Engineering Inc. has a 1-year low of $75.71 and a 1-year high of $113.12.

Altair Engineering (NASDAQ:ALTR) last announced 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 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%. Analysts expect that Altair Engineering Inc. will post 0.87 EPS for the current year.

Institutional Investors Weigh In On Altair Engineering

A number of institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC boosted its stake in shares of 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 acquiring an additional 93 shares in the last quarter. New York State Teachers Retirement System boosted its position in Altair Engineering by 1.2% during the third quarter. New York State Teachers Retirement System now owns 8,500 shares of the software’s stock worth $812,000 after purchasing an additional 100 shares during the period. Louisiana State Employees Retirement System grew its stake in Altair Engineering by 0.6% in the 4th quarter. Louisiana State Employees Retirement System now owns 16,600 shares of the software’s stock valued at $1,811,000 after buying an additional 100 shares during the last quarter. State of Michigan Retirement System increased its stake in shares of Altair Engineering by 0.7% in the fourth quarter. State of Michigan Retirement System now owns 14,200 shares of the software’s stock worth $1,549,000 after purchasing an additional 100 shares during the period. Finally, Thrivent Financial for Lutherans lifted its position in shares of Altair Engineering by 0.7% during the 4th quarter. Thrivent Financial for Lutherans now owns 14,065 shares of the software’s stock worth $1,535,000 after purchasing an additional 104 shares during the last quarter. Institutional investors and hedge funds own 63.38% of the company’s stock.

Wall Street Analyst Weigh In

ALTR has been the topic of a number of research reports. Rosenblatt Securities restated a “neutral” rating and issued a $113.00 price objective on shares of Altair Engineering in a report 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 assigned a hold rating to the stock. According to MarketBeat, Altair Engineering currently has a consensus 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.