Altair Engineering Inc. (NASDAQ:ALTR) CFO Matthew Charles Brown Sells 742 Shares of Stock

Altair Engineering Inc. (NASDAQ:ALTR) CFO Matthew Charles Brown sold 742 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $111.45, for a total transaction of $82,695.90. Following the transaction, the chief financial officer now directly owns 68,652 shares of the company’s stock, valued at approximately $7,651,265.40. This trade represents a 1.07 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

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

• On Wednesday, February 26th, Matthew Charles Brown sold 3,811 shares of Altair Engineering stock. The stock was sold at an average price of $111.53, for a total transaction of $425,040.83.
• On Monday, December 23rd, Matthew Charles Brown sold 1,048 shares of Altair Engineering stock. The stock was sold at an average price of $108.90, for a total transaction of $114,127.20.

Altair Engineering Price Performance

Shares of ALTR stock opened at $111.32 on Thursday. Altair Engineering Inc. has a fifty-two week low of $75.71 and a fifty-two week high of $113.12. The stock’s 50-day moving average is $110.49 and its two-hundred day moving average is $102.79. The firm has a market cap of $9.55 billion, a P/E ratio of 654.82, a PEG ratio of 10.75 and a beta of 1.45.

Altair Engineering (NASDAQ:ALTR) last issued its earnings results on Thursday, February 20th. The software reported $0.36 earnings per share for the quarter, missing the consensus estimate 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 during the quarter, compared to analyst estimates of $182.98 million. As a group, research analysts expect that Altair Engineering Inc. will post 0.87 EPS for the current year.

Wall Street Analysts Forecast Growth

ALTR has been the topic of several research reports. Rosenblatt Securities reiterated a “neutral” rating and issued a $113.00 price target on shares of Altair Engineering in a research report on Monday, February 24th. Needham & Company LLC reiterated a “hold” rating on shares of Altair Engineering in a research report on Friday, February 21st. One research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $100.83.

Institutional Inflows and Outflows

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

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.