Altair Engineering Inc. (NASDAQ:ALTR) Insider Uwe Schramm Sells 3,000 Shares

Altair Engineering Inc. (NASDAQ:ALTRGet Rating) insider Uwe Schramm sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, June 8th. The shares were sold at an average price of $55.47, for a total transaction of $166,410.00. Following the completion of the transaction, the insider now directly owns 44,309 shares in the company, valued at $2,457,820.23. The sale was disclosed in a document filed with the SEC, which is available at this link.

Uwe Schramm also recently made the following trade(s):

  • On Thursday, May 26th, Uwe Schramm sold 5,934 shares of Altair Engineering stock. The shares were sold at an average price of $52.64, for a total transaction of $312,365.76.

Shares of NASDAQ ALTR traded up $0.39 during midday trading on Thursday, reaching $54.96. 13,353 shares of the stock were exchanged, compared to its average volume of 311,058. The company has a 50 day simple moving average of $55.70 and a 200 day simple moving average of $62.74. The stock has a market capitalization of $4.38 billion, a P/E ratio of -314.54 and a beta of 1.54. Altair Engineering Inc. has a twelve month low of $48.77 and a twelve month high of $82.96.

Altair Engineering (NASDAQ:ALTRGet Rating) last posted its earnings results on Thursday, May 5th. The software reported $0.38 earnings per share for the quarter, beating the consensus estimate of $0.30 by $0.08. Altair Engineering had a negative net margin of 2.15% and a positive return on equity of 3.27%. The firm had revenue of $159.78 million during the quarter, compared to the consensus estimate of $154.16 million. During the same quarter last year, the firm earned $0.23 EPS. The firm’s revenue for the quarter was up 6.4% on a year-over-year basis. On average, research analysts predict that Altair Engineering Inc. will post 0.12 earnings per share for the current year.

A number of research analysts recently weighed in on the stock. Zacks Investment Research lowered shares of Altair Engineering from a “buy” rating to a “hold” rating in a research note on Wednesday, March 2nd. The Goldman Sachs Group decreased their target price on shares of Altair Engineering from $78.00 to $67.00 and set a “neutral” rating on the stock in a research note on Monday, March 7th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Altair Engineering currently has a consensus rating of “Hold” and an average target price of $80.60.

A number of institutional investors have recently bought and sold shares of ALTR. Matrix Capital Management Company LP increased its holdings in Altair Engineering by 56.0% in the 3rd quarter. Matrix Capital Management Company LP now owns 8,180,589 shares of the software’s stock valued at $563,970,000 after purchasing an additional 2,935,564 shares during the last quarter. Norges Bank acquired a new stake in Altair Engineering in the 4th quarter valued at approximately $44,302,000. BlackRock Inc. increased its holdings in Altair Engineering by 7.5% in the 1st quarter. BlackRock Inc. now owns 4,879,144 shares of the software’s stock valued at $314,217,000 after purchasing an additional 339,610 shares during the last quarter. Eaton Vance Management increased its holdings in Altair Engineering by 24.9% in the 1st quarter. Eaton Vance Management now owns 1,228,336 shares of the software’s stock valued at $79,104,000 after purchasing an additional 244,872 shares during the last quarter. Finally, abrdn plc increased its holdings in Altair Engineering by 75.2% in the 4th quarter. abrdn plc now owns 493,900 shares of the software’s stock valued at $38,188,000 after purchasing an additional 212,002 shares during the last quarter. Hedge funds and other institutional investors own 97.47% of the company’s stock.

About Altair Engineering (Get Rating)

Altair Engineering Inc, together with its subsidiaries, provides software and cloud solutions in the areas of simulation, high-performance computing, data analytics, and artificial intelligence worldwide. The company operates in two segments, Software and Client Engineering Services. The Software segment includes solvers and optimization technology products, high-performance computing software applications and hardware products, modeling and visualization tools, data analytics and analysis products, and Internet of Things platform and analytics tools, as well as support and the complementary software products.

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