James Ralph Scapa Sells 13,000 Shares of Altair Engineering Inc. (NASDAQ:ALTR) Stock

Altair Engineering Inc. (NASDAQ:ALTR) CEO James Ralph Scapa sold 13,000 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $105.69, for a total transaction of $1,373,970.00. Following the completion of the sale, the chief executive officer now owns 134,045 shares in the company, valued at approximately $14,167,216.05. This trade represents a 8.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

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

• On Monday, October 28th, James Ralph Scapa sold 13,000 shares of Altair Engineering stock. The shares were sold at an average price of $102.59, for a total transaction of $1,333,670.00.
• On Monday, September 30th, James Ralph Scapa sold 13,000 shares of Altair Engineering stock. The stock was sold at an average price of $95.10, for a total value of $1,236,300.00.

Altair Engineering Trading Down 0.5 %

Shares of ALTR opened at $105.30 on Wednesday. The firm has a market capitalization of $8.96 billion, a price-to-earnings ratio of 277.11, a PEG ratio of 12.16 and a beta of 1.44. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.27 and a quick ratio of 3.27. Altair Engineering Inc. has a 1-year low of $70.07 and a 1-year high of $113.12. The company has a 50-day moving average of $100.72 and a 200 day moving average of $94.70.

Institutional Trading of Altair Engineering

Several institutional investors and hedge funds have recently modified their holdings of the stock. Blue Trust Inc. increased its holdings in Altair Engineering by 572.1% during the 3rd quarter. Blue Trust Inc. now owns 289 shares of the software’s stock worth $28,000 after purchasing an additional 246 shares during the period. GAMMA Investing LLC grew its position in shares of Altair Engineering by 81.7% during the 2nd quarter. GAMMA Investing LLC now owns 418 shares of the software’s stock worth $41,000 after buying an additional 188 shares in the last quarter. FSC Wealth Advisors LLC increased its stake in shares of Altair Engineering by 41.3% during the second quarter. FSC Wealth Advisors LLC now owns 832 shares of the software’s stock valued at $82,000 after buying an additional 243 shares during the period. Van ECK Associates Corp raised its holdings in shares of Altair Engineering by 41.7% in the second quarter. Van ECK Associates Corp now owns 1,057 shares of the software’s stock valued at $104,000 after acquiring an additional 311 shares in the last quarter. Finally, KBC Group NV lifted its stake in Altair Engineering by 17.9% in the third quarter. KBC Group NV now owns 1,640 shares of the software’s stock worth $157,000 after acquiring an additional 249 shares during the period. Institutional investors own 63.38% of the company’s stock.

Analyst Ratings Changes

ALTR has been the subject of a number of recent research reports. William Blair reiterated a “market perform” rating on shares of Altair Engineering in a report on Thursday, October 31st. Needham & Company LLC reaffirmed a “hold” rating and set a $100.00 price objective on shares of Altair Engineering in a research note on Thursday, October 31st. Loop Capital reissued a “hold” rating and issued a $113.00 target price on shares of Altair Engineering in a research note on Thursday, October 31st. Royal Bank of Canada lifted their price target on shares of Altair Engineering from $90.00 to $113.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 31st. Finally, Wolfe Research lowered shares of Altair Engineering from a “strong-buy” rating to a “hold” rating in a research report on Sunday, November 3rd. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $100.71.

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.