Altair Engineering Inc. (NASDAQ:ALTR) CAO Sells $20,256.60 in Stock

Altair Engineering Inc. (NASDAQ:ALTR) CAO Brian Gayle sold 182 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $111.30, for a total value of $20,256.60. Following the sale, the chief accounting officer now owns 18,008 shares of the company’s stock, valued at approximately $2,004,290.40. This trade represents a 1.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Brian Gayle also recently made the following trade(s):

• On Monday, March 3rd, Brian Gayle sold 184 shares of Altair Engineering stock. The shares were sold at an average price of $111.45, for a total value of $20,506.80.
• On Wednesday, February 26th, Brian Gayle sold 137 shares of Altair Engineering stock. The shares were sold at an average price of $111.53, for a total value of $15,279.61.

Altair Engineering Trading Down 0.1 %

NASDAQ:ALTR opened at $111.54 on Friday. Altair Engineering Inc. has a 12-month low of $75.71 and a 12-month high of $113.12. The stock has a 50-day moving average price of $110.88 and a 200 day moving average price of $104.35. The stock has a market capitalization of $9.57 billion, a P/E ratio of 656.12, a P/E/G ratio of 10.75 and a beta of 1.45.

Altair Engineering (NASDAQ:ALTR) last released its earnings results on Thursday, February 20th. The software reported $0.36 earnings per share (EPS) 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 business had revenue of $192.63 million for the quarter, compared to analysts’ expectations of $182.98 million. On average, research analysts predict that Altair Engineering Inc. will post 0.87 earnings per share for the current fiscal year.

Institutional Trading of Altair Engineering

Several institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Altair Engineering by 4.8% during the fourth quarter. Vanguard Group Inc. now owns 6,894,230 shares of the software’s stock worth $752,229,000 after purchasing an additional 317,575 shares in the last quarter. State Street Corp boosted its stake in Altair Engineering by 3.3% during the third quarter. State Street Corp now owns 2,053,957 shares of the software’s stock valued at $196,173,000 after buying an additional 65,589 shares during the last quarter. Geode Capital Management LLC boosted its stake in Altair Engineering by 3.9% during the third quarter. Geode Capital Management LLC now owns 1,423,880 shares of the software’s stock valued at $136,020,000 after buying an additional 53,088 shares during the last quarter. Northern Trust Corp boosted its stake in Altair Engineering by 9.2% during the fourth quarter. Northern Trust Corp now owns 751,191 shares of the software’s stock valued at $81,962,000 after buying an additional 63,368 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Altair Engineering by 2.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 591,573 shares of the software’s stock valued at $64,547,000 after buying an additional 12,585 shares during the last quarter. Hedge funds and other institutional investors own 63.38% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on ALTR shares. Needham & Company LLC restated a “hold” rating on shares of Altair Engineering in a research report on Friday, February 21st. Rosenblatt Securities restated a “neutral” rating and issued a $113.00 price target on shares of Altair Engineering in a research report on Monday, February 24th. One investment analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $100.83.

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.