Insider Selling: Altair Engineering Inc. (NASDAQ:ALTR) CEO Sells 35,000 Shares of Stock

Altair Engineering Inc. (NASDAQ:ALTR – Get Rating) CEO James Ralph Scapa sold 35,000 shares of the stock in a transaction on Tuesday, January 17th. The stock was sold at an average price of $49.91, for a total transaction of $1,746,850.00. Following the completion of the transaction, the chief executive officer now directly owns 83,962 shares in the company, valued at approximately $4,190,543.42. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

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

• On Monday, January 9th, James Ralph Scapa sold 35,000 shares of Altair Engineering stock. The shares were sold at an average price of $48.45, for a total transaction of $1,695,750.00.
• On Tuesday, November 15th, James Ralph Scapa sold 57,915 shares of Altair Engineering stock. The shares were sold at an average price of $49.97, for a total transaction of $2,894,012.55.

Altair Engineering Trading Up 1.2 %

Shares of ALTR opened at $51.93 on Friday. The stock has a market capitalization of $4.16 billion, a P/E ratio of -70.17, a PEG ratio of 36.60 and a beta of 1.47. The company has a quick ratio of 2.35, a current ratio of 2.35 and a debt-to-equity ratio of 0.57. The firm has a fifty day simple moving average of $47.45 and a two-hundred day simple moving average of $49.45. Altair Engineering Inc. has a twelve month low of $43.17 and a twelve month high of $68.85.

Altair Engineering (NASDAQ:ALTR – Get Rating) last announced its quarterly earnings results on Thursday, November 3rd. The software reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.03. The business had revenue of $119.35 million during the quarter, compared to analysts’ expectations of $118.47 million. Altair Engineering had a negative net margin of 10.30% and a negative return on equity of 0.13%. On average, research analysts anticipate that Altair Engineering Inc. will post 0.02 EPS for the current year.

Institutional Investors Weigh In On Altair Engineering

Several institutional investors and hedge funds have recently modified their holdings of the stock. US Bancorp DE lifted its position in shares of Altair Engineering by 6.6% in the 2nd quarter. US Bancorp DE now owns 3,885 shares of the software’s stock worth $204,000 after purchasing an additional 240 shares during the period. Arizona State Retirement System lifted its position in shares of Altair Engineering by 1.8% in the 2nd quarter. Arizona State Retirement System now owns 13,976 shares of the software’s stock worth $734,000 after purchasing an additional 247 shares during the period. Nisa Investment Advisors LLC lifted its position in shares of Altair Engineering by 15.7% in the 2nd quarter. Nisa Investment Advisors LLC now owns 2,140 shares of the software’s stock worth $112,000 after purchasing an additional 290 shares during the period. Ellevest Inc. lifted its position in shares of Altair Engineering by 182.3% in the 2nd quarter. Ellevest Inc. now owns 573 shares of the software’s stock worth $30,000 after purchasing an additional 370 shares during the period. Finally, Prudential Financial Inc. lifted its position in shares of Altair Engineering by 12.0% in the 2nd quarter. Prudential Financial Inc. now owns 3,875 shares of the software’s stock worth $202,000 after purchasing an additional 415 shares during the period. 61.66% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on ALTR shares. Needham & Company LLC started coverage on shares of Altair Engineering in a report on Wednesday, November 16th. They set a “buy” rating and a $60.00 target price on the stock. Rosenblatt Securities reduced their target price on shares of Altair Engineering from $70.00 to $63.00 and set a “buy” rating on the stock in a report on Monday, October 24th. One analyst has rated the stock with a sell rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $58.80.

Altair Engineering Company Profile

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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.