Insider Selling: Altair Engineering Inc. (NASDAQ:ALTR) CAO Sells 182 Shares of Stock

Altair Engineering Inc. (NASDAQ:ALTR) CAO Brian Gayle sold 182 shares of Altair Engineering stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $111.30, for a total value of $20,256.60. Following the completion of the sale, the chief accounting officer now directly owns 18,008 shares of the company’s stock, valued at approximately $2,004,290.40. This trade represents a 1.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Brian Gayle also recently made the following trade(s):

• On Monday, March 3rd, Brian Gayle sold 184 shares of Altair Engineering stock. The stock was sold at an average price of $111.45, for a total value of $20,506.80.
• On Wednesday, February 26th, Brian Gayle sold 137 shares of Altair Engineering stock. The stock was sold at an average price of $111.53, for a total value of $15,279.61.

Altair Engineering Trading Up 0.2 %

Shares of ALTR opened at $111.75 on Friday. The company has a market cap of $9.59 billion, a PE ratio of 657.35, a price-to-earnings-growth ratio of 10.75 and a beta of 1.45. The stock has a 50-day moving average price of $110.91 and a 200-day moving average price of $104.50. Altair Engineering Inc. has a 12-month low of $75.71 and a 12-month high of $113.12.

Altair Engineering (NASDAQ:ALTR) last issued its quarterly earnings results on Thursday, February 20th. The software reported $0.36 earnings per share (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 the consensus estimate of $182.98 million. Altair Engineering had a net margin of 2.13% and a return on equity of 8.08%. As a group, analysts predict that Altair Engineering Inc. will post 0.87 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on ALTR shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Altair Engineering in a report on Friday, February 21st. Rosenblatt Securities reaffirmed a “neutral” rating and set a $113.00 target price 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 given a hold rating to the company’s stock. Based on data from MarketBeat.com, Altair Engineering has a consensus rating of “Hold” and an average target price of $100.83.

Institutional Trading of Altair Engineering

Large investors have recently modified their holdings of the business. NBT Bank N A NY boosted its position in shares of Altair Engineering by 76.4% during the 4th 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 during the last quarter. UMB Bank n.a. lifted its position in Altair Engineering by 77.0% in 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 last quarter. Johnson Financial Group Inc. bought a new stake in Altair Engineering in the 4th quarter worth approximately $37,000. GAMMA Investing LLC lifted its position in Altair Engineering by 14.6% in 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 last quarter. Finally, Blue Trust Inc. lifted its position in Altair Engineering by 185.5% in 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 last quarter. Institutional investors own 63.38% of the company’s stock.

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.