Insider Selling: Altair Engineering Inc. (NASDAQ:ALTR) CEO Sells 16,095 Shares of Stock

Altair Engineering Inc. (NASDAQ:ALTR) CEO James Ralph Scapa sold 16,095 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $105.65, for a total transaction of $1,700,436.75. Following the completion of the sale, the chief executive officer now owns 117,950 shares of the company’s stock, valued at $12,461,417.50. This trade represents a 12.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Friday, November 29th, James Ralph Scapa sold 13,000 shares of Altair Engineering stock. The shares were sold at an average price of $105.69, for a total value of $1,373,970.00.
• On Monday, October 28th, James Ralph Scapa sold 13,000 shares of Altair Engineering stock. The stock was sold at an average price of $102.59, for a total value of $1,333,670.00.
• On Monday, September 30th, James Ralph Scapa sold 13,000 shares of Altair Engineering stock. The shares were sold at an average price of $95.10, for a total transaction of $1,236,300.00.

Altair Engineering Stock Performance

Shares of ALTR stock opened at $105.74 on Friday. The company has a current ratio of 3.27, a quick ratio of 3.27 and a debt-to-equity ratio of 0.27. The firm has a fifty day simple moving average of $101.40 and a two-hundred day simple moving average of $94.96. Altair Engineering Inc. has a 12 month low of $70.07 and a 12 month high of $113.12. The firm has a market capitalization of $9.00 billion, a PE ratio of 278.27, a price-to-earnings-growth ratio of 12.10 and a beta of 1.44.

Institutional Investors Weigh In On Altair Engineering

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

Analyst Ratings Changes

ALTR has been the topic of several analyst reports. Rosenblatt Securities increased their target price on Altair Engineering from $88.00 to $113.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Needham & Company LLC reiterated a “hold” rating and issued a $100.00 price target on shares of Altair Engineering in a research note on Thursday, October 31st. Loop Capital reiterated a “hold” rating and set a $113.00 target price on shares of Altair Engineering in a research report on Thursday, October 31st. Royal Bank of Canada upped their price target on Altair Engineering from $90.00 to $113.00 and gave the company a “sector perform” rating in a research report on Thursday, October 31st. Finally, Wolfe Research cut shares of Altair Engineering from a “strong-buy” rating to a “hold” rating in a research report on Sunday, November 3rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $100.71.

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.