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 firm’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $111.53, for a total transaction of $15,279.61. Following the completion of the transaction, the chief accounting officer now directly owns 18,374 shares in the company, valued at $2,049,252.22. This trade represents a 0.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Altair Engineering Stock Performance

Shares of ALTR stock opened at $111.60 on Friday. The firm 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. The firm’s 50 day moving average price is $110.34 and its 200-day moving average price is $102.26. Altair Engineering Inc. has a one year low of $75.71 and a one year high of $113.12.

Altair Engineering (NASDAQ:ALTR) last released its quarterly earnings results on Thursday, February 20th. The software reported $0.36 EPS 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 firm had revenue of $192.63 million for the quarter, compared to analyst estimates of $182.98 million. As a group, research analysts predict that Altair Engineering Inc. will post 0.87 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Needham & Company LLC reissued a “hold” rating on shares of Altair Engineering in a research note on Friday, February 21st. Wolfe Research cut shares of Altair Engineering from a “strong-buy” rating to a “hold” rating in a research report on Sunday, November 3rd. Finally, Rosenblatt Securities reissued a “neutral” rating and issued a $113.00 price objective on shares of Altair Engineering in a report on Monday, February 24th. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. According to data from MarketBeat.com, Altair Engineering presently has an average rating of “Hold” and an average target price of $100.83.

Institutional Trading of Altair Engineering

Institutional investors and hedge funds have recently bought and sold shares of the business. Magnetar Financial LLC purchased a new position in shares of Altair Engineering in the fourth quarter valued at approximately $62,142,000. Norges Bank acquired a new stake in Altair Engineering during the 4th quarter worth approximately $37,899,000. Schonfeld Strategic Advisors LLC boosted its position in Altair Engineering by 13,097.8% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 331,528 shares of the software’s stock valued at $36,173,000 after buying an additional 329,016 shares during the period. Vanguard Group Inc. grew its stake in shares of Altair Engineering by 4.8% in the fourth quarter. Vanguard Group Inc. now owns 6,894,230 shares of the software’s stock worth $752,229,000 after acquiring an additional 317,575 shares in the last quarter. Finally, Woodline Partners LP purchased a new stake in shares of Altair Engineering during the fourth quarter worth $32,733,000. 63.38% of the stock is currently owned by hedge funds and other institutional investors.

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.