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, June 28th. The stock was sold at an average price of $98.26, for a total value of $1,277,380.00. Following the sale, the chief executive officer now owns 134,045 shares in the company, valued at approximately $13,171,261.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, June 10th, James Ralph Scapa sold 13,000 shares of Altair Engineering stock. The stock was sold at an average price of $93.16, for a total transaction of $1,211,080.00.
• On Wednesday, May 8th, James Ralph Scapa sold 5,560 shares of Altair Engineering stock. The shares were sold at an average price of $84.37, for a total transaction of $469,097.20.

Altair Engineering Stock Down 0.3 %

Altair Engineering stock opened at $98.14 on Thursday. The business’s 50-day moving average price is $90.66 and its 200 day moving average price is $86.41. The company has a quick ratio of 2.46, a current ratio of 2.46 and a debt-to-equity ratio of 0.30. The firm has a market cap of $8.15 billion, a price-to-earnings ratio of 1,090.44, a price-to-earnings-growth ratio of 12.34 and a beta of 1.48. Altair Engineering Inc. has a 52 week low of $57.59 and a 52 week high of $100.79.

Altair Engineering (NASDAQ:ALTR) last issued its quarterly earnings data on Thursday, May 2nd. The software reported $0.40 EPS 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 business had revenue of $172.91 million for the quarter, compared to analysts’ expectations of $169.29 million. During the same quarter last year, the company earned $0.13 EPS. The business’s revenue was up 4.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Altair Engineering Inc. will post 0.66 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of ALTR. Matrix Capital Management Company LP grew its position in shares of Altair Engineering by 1.6% during the 1st quarter. Matrix Capital Management Company LP now owns 12,430,000 shares of the software’s stock valued at $1,070,844,000 after acquiring an additional 196,826 shares during the period. Vanguard Group Inc. grew its holdings in Altair Engineering by 3.2% in the first quarter. Vanguard Group Inc. now owns 5,944,285 shares of the software’s stock valued at $512,100,000 after purchasing an additional 182,840 shares during the period. Conestoga Capital Advisors LLC increased its position in shares of Altair Engineering by 0.6% in the first quarter. Conestoga Capital Advisors LLC now owns 2,440,081 shares of the software’s stock valued at $210,213,000 after buying an additional 15,370 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Altair Engineering by 97.3% during the 4th quarter. Wellington Management Group LLP now owns 1,182,339 shares of the software’s stock worth $99,494,000 after buying an additional 583,127 shares during the period. Finally, Ameriprise Financial Inc. raised its stake in shares of Altair Engineering by 22.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 951,698 shares of the software’s stock worth $59,538,000 after buying an additional 176,780 shares during the period. Institutional investors and hedge funds own 63.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ALTR. Rosenblatt Securities reaffirmed a “neutral” rating and set a $88.00 price target on shares of Altair Engineering in a research report on Monday, April 29th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $90.00 target price on shares of Altair Engineering in a research report on Thursday, March 21st. JPMorgan Chase & Co. raised 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. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Altair Engineering in a report on Friday, May 3rd. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, Altair Engineering presently has an average rating of “Moderate Buy” and an average price target of $94.60.

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.