Altair Engineering Inc. (NASDAQ:ALTR) CFO Sells $82,695.90 in Stock

Altair Engineering Inc. (NASDAQ:ALTR) CFO Matthew Charles Brown sold 742 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $111.45, for a total transaction of $82,695.90. Following the completion of the sale, the chief financial officer now directly owns 68,652 shares of the company’s stock, valued at approximately $7,651,265.40. This trade represents a 1.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Matthew Charles Brown also recently made the following trade(s):

• On Wednesday, February 26th, Matthew Charles Brown sold 3,811 shares of Altair Engineering stock. The shares were sold at an average price of $111.53, for a total transaction of $425,040.83.
• On Monday, December 23rd, Matthew Charles Brown sold 1,048 shares of Altair Engineering stock. The stock was sold at an average price of $108.90, for a total transaction of $114,127.20.

Altair Engineering Stock Up 0.0 %

ALTR stock traded up $0.05 during midday trading on Wednesday, reaching $111.39. The company’s stock had a trading volume of 135,343 shares, compared to its average volume of 760,628. The business’s 50-day simple moving average is $110.44 and its 200-day simple moving average is $102.73. The stock has a market cap of $9.56 billion, a PE ratio of 655.38, a price-to-earnings-growth ratio of 10.75 and a beta of 1.45. Altair Engineering Inc. has a 52 week low of $75.71 and a 52 week high of $113.12.

Altair Engineering (NASDAQ:ALTR) last posted its earnings results on Thursday, February 20th. The software reported $0.36 earnings per share 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 firm had revenue of $192.63 million during the quarter, compared to analyst estimates of $182.98 million. As a group, equities analysts forecast that Altair Engineering Inc. will post 0.87 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ALTR. Rosenblatt Securities reiterated a “neutral” rating and set a $113.00 price objective on shares of Altair Engineering in a research note on Monday, February 24th. Needham & Company LLC restated a “hold” rating on shares of Altair Engineering in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $100.83.

Institutional Investors Weigh In On Altair Engineering

Several institutional investors have recently bought and sold shares of ALTR. Fisher Asset Management LLC boosted its stake in shares of Altair Engineering by 27.0% during the 3rd quarter. Fisher Asset Management LLC now owns 401,612 shares of the software’s stock worth $38,358,000 after buying an additional 85,303 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Altair Engineering by 1.7% during the 4th quarter. Principal Financial Group Inc. now owns 168,665 shares of the software’s stock worth $18,403,000 after purchasing an additional 2,872 shares in the last quarter. Citigroup Inc. boosted its holdings in shares of Altair Engineering by 141.0% in the 3rd quarter. Citigroup Inc. now owns 50,518 shares of the software’s stock valued at $4,825,000 after buying an additional 29,556 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Altair Engineering in the third quarter valued at $1,356,000. Finally, Versor Investments LP acquired a new position in Altair Engineering during the third quarter worth $487,000. Institutional investors own 63.38% of the company’s stock.

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.