Altair Engineering Inc. (NASDAQ:ALTR) CFO Matthew Charles Brown Sells 3,811 Shares of Stock

Altair Engineering Inc. (NASDAQ:ALTR) CFO Matthew Charles Brown sold 3,811 shares of Altair Engineering stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $111.53, for a total value of $425,040.83. Following the completion of the transaction, the chief financial officer now owns 69,394 shares of the company’s stock, valued at approximately $7,739,512.82. This represents a 5.21 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Matthew Charles Brown also recently made the following trade(s):

• On Monday, December 23rd, Matthew Charles Brown sold 1,048 shares of Altair Engineering stock. The shares were sold at an average price of $108.90, for a total value of $114,127.20.

Altair Engineering Price Performance

Shares of Altair Engineering stock opened at $111.49 on Friday. The stock’s 50 day simple moving average is $110.29 and its 200-day simple moving average is $102.10. The stock has a market cap of $9.49 billion, a P/E ratio of 655.82, a P/E/G ratio of 10.75 and a beta of 1.42. Altair Engineering Inc. has a 1-year low of $75.71 and a 1-year high of $113.12.

Altair Engineering (NASDAQ:ALTR) last issued its earnings results on Thursday, February 20th. The software reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.15). Altair Engineering had a net margin of 2.13% and a return on equity of 8.08%. The company had revenue of $192.63 million during the quarter, compared to analysts’ expectations of $182.98 million. As a group, research analysts expect that Altair Engineering Inc. will post 0.87 EPS for the current fiscal year.

Hedge Funds Weigh In On Altair Engineering

Institutional investors have recently bought and sold shares of the company. Fisher Asset Management LLC grew its stake in shares of Altair Engineering by 27.0% in the 3rd quarter. Fisher Asset Management LLC now owns 401,612 shares of the software’s stock valued at $38,358,000 after buying an additional 85,303 shares during the period. Citigroup Inc. lifted its holdings in Altair Engineering by 141.0% in the third quarter. Citigroup Inc. now owns 50,518 shares of the software’s stock valued at $4,825,000 after acquiring an additional 29,556 shares during the last quarter. Principal Financial Group Inc. grew its position in Altair Engineering by 1.7% in the fourth quarter. Principal Financial Group Inc. now owns 168,665 shares of the software’s stock worth $18,403,000 after acquiring an additional 2,872 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Altair Engineering during the third quarter worth $1,356,000. Finally, Versor Investments LP purchased a new stake in Altair Engineering in the third quarter valued at $487,000. 63.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on ALTR shares. Wolfe Research lowered Altair Engineering from a “strong-buy” rating to a “hold” rating in a research report on Sunday, November 3rd. Royal Bank of Canada increased their price objective on shares of Altair Engineering from $90.00 to $113.00 and gave the company a “sector perform” rating in a report on Thursday, October 31st. Loop Capital reissued a “hold” rating and set a $113.00 target price on shares of Altair Engineering in a research note on Thursday, October 31st. Rosenblatt Securities reiterated a “neutral” rating and issued a $113.00 price objective on shares of Altair Engineering in a report on Monday. Finally, Needham & Company LLC reissued a “hold” rating on shares of Altair Engineering in a report on Friday, February 21st. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average 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.