Insider Selling: Altair Engineering Inc. (NASDAQ:ALTR) CEO Sells 13,000 Shares of Stock

Altair Engineering Inc. (NASDAQ:ALTRGet Free Report) CEO James Ralph Scapa sold 13,000 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $93.16, for a total transaction of $1,211,080.00. Following the completion of the transaction, the chief executive officer now directly owns 134,045 shares in the company, valued at $12,487,632.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

James Ralph Scapa also recently made the following trade(s):

  • On Wednesday, May 8th, James Ralph Scapa sold 5,560 shares of Altair Engineering stock. The stock was sold at an average price of $84.37, for a total transaction of $469,097.20.
  • On Monday, March 18th, James Ralph Scapa sold 10,000 shares of Altair Engineering stock. The stock was sold at an average price of $80.74, for a total transaction of $807,400.00.
  • On Wednesday, March 13th, James Ralph Scapa sold 1,686 shares of Altair Engineering stock. The stock was sold at an average price of $81.66, for a total transaction of $137,678.76.

Altair Engineering Price Performance

Shares of NASDAQ ALTR opened at $96.94 on Friday. The firm has a market cap of $8.05 billion, a PE ratio of 1,077.11, a PEG ratio of 11.69 and a beta of 1.45. The company has a current ratio of 2.46, a quick ratio of 2.46 and a debt-to-equity ratio of 0.30. Altair Engineering Inc. has a 1-year low of $57.59 and a 1-year high of $98.41. The company has a fifty day moving average price of $86.50 and a 200 day moving average price of $83.85.

Altair Engineering (NASDAQ:ALTRGet Free Report) last announced its earnings results on Thursday, May 2nd. The software reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.06. Altair Engineering had a net margin of 1.55% and a return on equity of 5.60%. The firm had revenue of $172.91 million during the quarter, compared to analyst estimates of $169.29 million. During the same period in the prior year, the business earned $0.13 EPS. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. Research analysts predict that Altair Engineering Inc. will post 0.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Altair Engineering

A number of large investors have recently modified their holdings of ALTR. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Altair Engineering during the 4th quarter worth about $31,000. EdgeRock Capital LLC acquired a new position in shares of Altair Engineering during the 4th quarter worth about $33,000. Harvest Fund Management Co. Ltd boosted its stake in shares of Altair Engineering by 1,157.7% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 981 shares of the software’s stock worth $83,000 after buying an additional 903 shares during the last quarter. Natixis Investment Managers International boosted its stake in shares of Altair Engineering by 68.7% during the 4th quarter. Natixis Investment Managers International now owns 1,940 shares of the software’s stock worth $163,000 after buying an additional 790 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Altair Engineering during the 1st quarter worth about $177,000. 63.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on ALTR shares. Needham & Company LLC reissued a “buy” rating and set a $100.00 price target on shares of Altair Engineering in a research report on Friday, May 3rd. JPMorgan Chase & Co. lifted their price target on shares of Altair Engineering from $86.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 26th. Royal Bank of Canada reissued a “sector perform” rating and set a $90.00 price target on shares of Altair Engineering in a research report on Thursday, March 21st. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $88.00 price objective on shares of Altair Engineering in a research report on Monday, April 29th. Finally, Oppenheimer upped their target price on shares of Altair Engineering from $95.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $94.60.

Check Out Our Latest Report on Altair Engineering

Altair Engineering Company Profile

(Get Free Report)

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.

Further Reading

Insider Buying and Selling by Quarter for Altair Engineering (NASDAQ:ALTR)

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