Insider Selling: Altair Engineering Inc. (NASDAQ:ALTR) Major Shareholder Sells $605,540.00 in Stock

Altair Engineering Inc. (NASDAQ:ALTRGet Free Report) major shareholder R. Scapa Declaration Of James sold 6,500 shares of the firm’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $93.16, for a total transaction of $605,540.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Altair Engineering Price Performance

Altair Engineering stock opened at $96.94 on Friday. The company’s 50 day simple moving average is $86.50 and its 200-day simple moving average is $83.85. The company has a market capitalization of $8.05 billion, a price-to-earnings ratio of 1,077.11, a price-to-earnings-growth ratio of 11.69 and a beta of 1.45. Altair Engineering Inc. has a 1 year low of $57.59 and a 1 year high of $98.41. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.46 and a current ratio of 2.46.

Altair Engineering (NASDAQ:ALTRGet Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The software reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.06. The firm had revenue of $172.91 million during the quarter, compared to analysts’ expectations of $169.29 million. Altair Engineering had a net margin of 1.55% and a return on equity of 5.60%. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.13 earnings per share. As a group, equities research analysts expect that Altair Engineering Inc. will post 0.66 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ALTR. New York Life Investment Management LLC acquired a new position in shares of Altair Engineering in the third quarter valued at approximately $351,000. Swiss National Bank grew its holdings in shares of Altair Engineering by 3.0% in the third quarter. Swiss National Bank now owns 117,400 shares of the software’s stock valued at $7,345,000 after purchasing an additional 3,400 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Altair Engineering by 4.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 415,538 shares of the software’s stock valued at $25,996,000 after purchasing an additional 16,075 shares in the last quarter. Campbell & CO Investment Adviser LLC grew its holdings in Altair Engineering by 189.5% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 9,293 shares of the software’s stock worth $581,000 after acquiring an additional 6,083 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D grew its holdings in Altair Engineering by 14.5% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 37,496 shares of the software’s stock worth $2,346,000 after acquiring an additional 4,754 shares in the last quarter. Institutional investors and hedge funds own 63.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ALTR. Rosenblatt Securities reaffirmed a “neutral” rating and set a $88.00 target price on shares of Altair Engineering in a research note on Monday, April 29th. JPMorgan Chase & Co. lifted their target price on shares of Altair Engineering from $86.00 to $95.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 26th. Oppenheimer lifted their target price on shares of Altair Engineering from $95.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. Royal Bank of Canada reissued a “sector perform” rating and issued a $90.00 price target on shares of Altair Engineering in a research note on Thursday, March 21st. Finally, Needham & Company LLC reissued a “buy” rating and issued a $100.00 price target on shares of Altair Engineering in a research note on Friday, May 3rd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $94.60.

View Our Latest Report on ALTR

About Altair Engineering

(Get Free Report)

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.

Featured Stories

Insider Buying and Selling by Quarter for Altair Engineering (NASDAQ:ALTR)

Receive News & Ratings for Altair Engineering Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Altair Engineering and related companies with MarketBeat.com's FREE daily email newsletter.