Altair Engineering Inc. (NASDAQ:ALTR) CRO Sells $185,982.30 in Stock

Altair Engineering Inc. (NASDAQ:ALTR) CRO Nelson Dias sold 1,671 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $111.30, for a total transaction of $185,982.30. Following the completion of the sale, the executive now owns 55,411 shares of the company’s stock, valued at $6,167,244.30. This trade represents a 2.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Nelson Dias also recently made the following trade(s):

• On Monday, March 3rd, Nelson Dias sold 491 shares of Altair Engineering stock. The shares were sold at an average price of $111.45, for a total transaction of $54,721.95.
• On Wednesday, February 26th, Nelson Dias sold 373 shares of Altair Engineering stock. The shares were sold at an average price of $111.53, for a total transaction of $41,600.69.

Altair Engineering Price Performance

Shares of ALTR stock opened at $111.54 on Friday. The firm has a market cap of $9.57 billion, a PE ratio of 656.12, a price-to-earnings-growth ratio of 10.75 and a beta of 1.45. The company has a 50-day moving average of $110.88 and a two-hundred day moving average of $104.35. Altair Engineering Inc. has a 1-year low of $75.71 and a 1-year high of $113.12.

Altair Engineering (NASDAQ:ALTR) last issued its quarterly 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). The business had revenue of $192.63 million for the quarter, compared to analyst estimates of $182.98 million. Altair Engineering had a return on equity of 8.08% and a net margin of 2.13%. Sell-side analysts anticipate that Altair Engineering Inc. will post 0.87 EPS for the current fiscal year.

Analysts Set New Price Targets

ALTR has been the subject of a number of analyst reports. Rosenblatt Securities reissued a “neutral” rating and issued a $113.00 price objective on shares of Altair Engineering in a report on Monday, February 24th. Needham & Company LLC reissued a “hold” rating on shares of Altair Engineering in a report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. According to data from MarketBeat.com, Altair Engineering has a consensus rating of “Hold” and a consensus price target of $100.83.

Institutional Trading of Altair Engineering

Several hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. lifted 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 lifted its position in shares of Altair Engineering by 3.3% during the third quarter. State Street Corp now owns 2,053,957 shares of the software’s stock worth $196,173,000 after purchasing an additional 65,589 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Altair Engineering by 3.9% during the third quarter. Geode Capital Management LLC now owns 1,423,880 shares of the software’s stock worth $136,020,000 after purchasing an additional 53,088 shares in the last quarter. Northern Trust Corp raised its holdings in Altair Engineering by 9.2% in the fourth quarter. Northern Trust Corp now owns 751,191 shares of the software’s stock valued at $81,962,000 after acquiring an additional 63,368 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Altair Engineering by 2.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 591,573 shares of the software’s stock valued at $64,547,000 after acquiring an additional 12,585 shares in the last quarter. Institutional investors and hedge funds 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.