Insider Selling: Altair Engineering Inc. (NASDAQ:ALTR) CRO Sells $185,982.30 in Stock

Altair Engineering Inc. (NASDAQ:ALTR) CRO Nelson Dias sold 1,671 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $111.30, for a total transaction of $185,982.30. Following the completion of the transaction, the executive now directly owns 55,411 shares in the company, valued at $6,167,244.30. This represents a 2.93 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Nelson Dias also recently made the following trade(s):

• On Monday, March 3rd, Nelson Dias sold 491 shares of Altair Engineering stock. The stock was sold at an average price of $111.45, for a total transaction of $54,721.95.
• On Wednesday, February 26th, Nelson Dias sold 373 shares of Altair Engineering stock. The stock was sold at an average price of $111.53, for a total transaction of $41,600.69.

Altair Engineering Trading Up 0.2 %

ALTR opened at $111.75 on Friday. The business’s 50 day moving average is $110.91 and its 200-day moving average is $104.50. The stock 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. Altair Engineering Inc. has a twelve month low of $75.71 and a twelve month high of $113.12.

Altair Engineering (NASDAQ:ALTR) last released its quarterly earnings results on Thursday, February 20th. The software reported $0.36 earnings per share 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 forecast that Altair Engineering Inc. will post 0.87 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC increased its stake in shares of Altair Engineering by 14.6% during the fourth quarter. GAMMA Investing LLC now owns 729 shares of the software’s stock valued at $80,000 after acquiring an additional 93 shares during the period. Louisiana State Employees Retirement System increased its stake in shares of Altair Engineering by 0.6% during the fourth quarter. Louisiana State Employees Retirement System now owns 16,600 shares of the software’s stock valued at $1,811,000 after acquiring an additional 100 shares during the period. New York State Teachers Retirement System increased its stake in shares of Altair Engineering by 1.2% during the fourth quarter. New York State Teachers Retirement System now owns 8,600 shares of the software’s stock valued at $938,000 after acquiring an additional 100 shares during the period. State of Michigan Retirement System increased its stake in shares of Altair Engineering by 0.7% during the fourth quarter. State of Michigan Retirement System now owns 14,200 shares of the software’s stock valued at $1,549,000 after acquiring an additional 100 shares during the period. Finally, Thrivent Financial for Lutherans increased its stake in shares of Altair Engineering by 0.7% during the fourth quarter. Thrivent Financial for Lutherans now owns 14,065 shares of the software’s stock valued at $1,535,000 after acquiring an additional 104 shares during the period. Institutional investors and hedge funds own 63.38% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on ALTR. Needham & Company LLC reissued a “hold” rating on shares of Altair Engineering in a report on Friday, February 21st. Rosenblatt Securities reissued a “neutral” rating and issued 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 assigned a hold rating to the stock. According to data from MarketBeat, Altair Engineering presently has an average rating of “Hold” and a consensus price target 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.