Altair Engineering Inc. (NASDAQ:ALTR) CRO Sells $41,600.69 in Stock

Altair Engineering Inc. (NASDAQ:ALTR) CRO Nelson Dias sold 373 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $111.53, for a total transaction of $41,600.69. Following the completion of the sale, the executive now directly owns 57,573 shares of the company’s stock, valued at approximately $6,421,116.69. The trade was a 0.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Tuesday, December 10th, Nelson Dias sold 22,500 shares of Altair Engineering stock. The shares were sold at an average price of $106.23, for a total value of $2,390,175.00.

Altair Engineering Price Performance

Shares of ALTR traded up $0.05 during mid-day trading on Thursday, hitting $111.65. The company’s stock had a trading volume of 274,449 shares, compared to its average volume of 767,923. Altair Engineering Inc. has a fifty-two week low of $75.71 and a fifty-two week high of $113.12. The stock has a market capitalization of $9.50 billion, a price-to-earnings ratio of 656.82, a PEG ratio of 10.75 and a beta of 1.42. The firm has a 50-day moving average price of $110.21 and a 200 day moving average price of $102.03.

Altair Engineering (NASDAQ:ALTR) last announced 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). Altair Engineering had a return on equity of 8.08% and a net margin of 2.13%. The company had revenue of $192.63 million during the quarter, compared to analyst estimates of $182.98 million. As a group, equities analysts anticipate that Altair Engineering Inc. will post 0.87 EPS for the current fiscal year.

Analyst Ratings Changes

ALTR has been the subject of a number of analyst reports. William Blair reiterated a “market perform” rating on shares of Altair Engineering in a research report on Thursday, October 31st. Loop Capital reiterated a “hold” rating and issued a $113.00 target price on shares of Altair Engineering in a report on Thursday, October 31st. Rosenblatt Securities restated a “neutral” rating and set a $113.00 price target on shares of Altair Engineering in a research report on Monday. Royal Bank of Canada lifted their price objective on Altair Engineering from $90.00 to $113.00 and gave the company a “sector perform” rating in a research note on Thursday, October 31st. Finally, Needham & Company LLC reissued a “hold” rating on shares of Altair Engineering in a report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $100.83.

Institutional Trading of Altair Engineering

Several institutional investors and hedge funds have recently added to or reduced their stakes in ALTR. GAMMA Investing LLC lifted its holdings in shares of Altair Engineering by 14.6% during the 4th quarter. GAMMA Investing LLC now owns 729 shares of the software’s stock valued at $80,000 after purchasing an additional 93 shares in the last quarter. New York State Teachers Retirement System boosted its holdings in shares of Altair Engineering by 1.2% in the 3rd quarter. New York State Teachers Retirement System now owns 8,500 shares of the software’s stock valued at $812,000 after buying an additional 100 shares during the last quarter. Louisiana State Employees Retirement System boosted its holdings in shares of Altair Engineering by 0.6% during the 4th quarter. Louisiana State Employees Retirement System now owns 16,600 shares of the software’s stock worth $1,811,000 after buying an additional 100 shares during the period. State of Michigan Retirement System lifted its holdings in Altair Engineering by 0.7% during the 4th quarter. State of Michigan Retirement System now owns 14,200 shares of the software’s stock worth $1,549,000 after purchasing an additional 100 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in shares of Altair Engineering by 0.7% during the 4th 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. 63.38% of the stock is owned by institutional investors.

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.