Insider Selling: Altair Engineering Inc. (NASDAQ:ALTR) CAO Sells $15,279.61 in Stock

Altair Engineering Inc. (NASDAQ:ALTR) CAO Brian Gayle sold 137 shares of the company’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $111.53, for a total value of $15,279.61. Following the sale, the chief accounting officer now owns 18,374 shares of the company’s stock, valued at approximately $2,049,252.22. The trade was a 0.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Altair Engineering Trading Up 0.1 %

Shares of NASDAQ ALTR opened at $111.60 on Friday. The stock has a fifty day moving average price of $110.34 and a 200 day moving average price of $102.36. The company has a market cap of $9.50 billion, a P/E ratio of 656.47, a P/E/G ratio of 10.75 and a beta of 1.42. Altair Engineering Inc. has a 12-month low of $75.71 and a 12-month high of $113.12.

Altair Engineering (NASDAQ:ALTR) last announced its earnings results on Thursday, February 20th. The software reported $0.36 earnings per share for the quarter, missing the consensus estimate 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 net margin of 2.13% and a return on equity of 8.08%. On average, sell-side analysts forecast that Altair Engineering Inc. will post 0.87 EPS for the current fiscal year.

Institutional Trading of Altair Engineering

Large investors have recently modified their holdings of the business. NBT Bank N A NY grew its stake in shares of Altair Engineering by 76.4% during the fourth quarter. NBT Bank N A NY now owns 247 shares of the software’s stock valued at $27,000 after acquiring an additional 107 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Altair Engineering by 572.1% during the third quarter. Blue Trust Inc. now owns 289 shares of the software’s stock worth $28,000 after purchasing an additional 246 shares during the last quarter. UMB Bank n.a. lifted its position in shares of Altair Engineering by 77.0% during the fourth quarter. UMB Bank n.a. now owns 285 shares of the software’s stock worth $31,000 after purchasing an additional 124 shares during the last quarter. Johnson Financial Group Inc. bought a new position in shares of Altair Engineering during the fourth quarter worth about $37,000. Finally, GAMMA Investing LLC lifted its position in shares of Altair Engineering by 14.6% during the fourth quarter. GAMMA Investing LLC now owns 729 shares of the software’s stock worth $80,000 after purchasing an additional 93 shares during the last quarter. 63.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ALTR has been the subject of a number of research analyst reports. Wolfe Research downgraded Altair Engineering from a “strong-buy” rating to a “hold” rating in a report on Sunday, November 3rd. Needham & Company LLC restated a “hold” rating on shares of Altair Engineering in a report on Friday, February 21st. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $113.00 price target on shares of Altair Engineering in a report on Monday, February 24th. One analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat, the company presently 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.