Insider Selling: Altair Engineering Inc. (NASDAQ:ALTR) CAO Sells $20,506.80 in Stock

Altair Engineering Inc. (NASDAQ:ALTR) CAO Brian Gayle sold 184 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $111.45, for a total transaction of $20,506.80. Following the sale, the chief accounting officer now owns 18,190 shares of the company’s stock, valued at approximately $2,027,275.50. This represents a 1.00 % decrease in their ownership of the stock. The sale 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 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 Price Performance

NASDAQ:ALTR opened at $111.24 on Friday. The firm has a market capitalization of $9.54 billion, a price-to-earnings ratio of 654.35, a price-to-earnings-growth ratio of 10.75 and a beta of 1.45. Altair Engineering Inc. has a one year low of $75.71 and a one year high of $113.12. The business has a fifty day moving average price of $110.53 and a 200-day moving average price of $102.84.

Altair Engineering (NASDAQ:ALTR) last posted its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $182.98 million. Altair Engineering had a return on equity of 8.08% and a net margin of 2.13%. On average, equities research analysts expect that Altair Engineering Inc. will post 0.87 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ALTR. Needham & Company LLC reiterated a “hold” rating on shares of Altair Engineering in a research note on Friday, February 21st. Rosenblatt Securities reiterated a “neutral” rating and set a $113.00 target price on shares of Altair Engineering in a research note on Monday, February 24th. One research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. Based on data from MarketBeat.com, Altair Engineering presently has an average rating of “Hold” and an average target price of $100.83.

Institutional Investors Weigh In On Altair Engineering

Hedge funds and other institutional investors have recently modified their holdings of the stock. Private Advisor Group LLC bought a new position in Altair Engineering in the 3rd quarter worth $208,000. State of Alaska Department of Revenue boosted its holdings in Altair Engineering by 11.5% in the 3rd quarter. State of Alaska Department of Revenue now owns 6,900 shares of the software’s stock worth $659,000 after buying an additional 710 shares during the period. New York State Teachers Retirement System boosted its holdings in Altair Engineering by 1.2% in the 3rd quarter. New York State Teachers Retirement System now owns 8,500 shares of the software’s stock worth $812,000 after buying an additional 100 shares during the period. US Bancorp DE boosted its holdings in Altair Engineering by 19.6% in the 3rd quarter. US Bancorp DE now owns 6,572 shares of the software’s stock worth $628,000 after buying an additional 1,078 shares during the period. Finally, Harbor Capital Advisors Inc. boosted its holdings in Altair Engineering by 2.9% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 10,017 shares of the software’s stock worth $957,000 after buying an additional 279 shares during the period. 63.38% of the stock is currently owned by hedge funds and other institutional investors.

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.