Insider Selling: Altair Engineering Inc. (NASDAQ:ALTR) CEO Sells 13,000 Shares of Stock

Altair Engineering Inc. (NASDAQ:ALTR) CEO James Ralph Scapa sold 13,000 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $102.59, for a total value of $1,333,670.00. Following the transaction, the chief executive officer now owns 134,045 shares of the company’s stock, valued at approximately $13,751,676.55. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

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

• On Monday, September 30th, James Ralph Scapa sold 13,000 shares of Altair Engineering stock. The stock was sold at an average price of $95.10, for a total value of $1,236,300.00.
• On Wednesday, August 28th, James Ralph Scapa sold 13,000 shares of Altair Engineering stock. The stock was sold at an average price of $89.04, for a total value of $1,157,520.00.

Altair Engineering Stock Performance

NASDAQ:ALTR traded up $8.91 during mid-day trading on Tuesday, hitting $110.91. The stock had a trading volume of 951,677 shares, compared to its average volume of 474,239. Altair Engineering Inc. has a twelve month low of $57.59 and a twelve month high of $113.12. The stock has a market cap of $9.21 billion, a price-to-earnings ratio of 1,146.33, a PEG ratio of 12.15 and a beta of 1.45. The company’s 50 day simple moving average is $92.85 and its 200 day simple moving average is $90.97. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.14 and a current ratio of 3.14.

Altair Engineering (NASDAQ:ALTR) last released its quarterly earnings results on Thursday, August 1st. The software reported $0.16 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.01. The firm had revenue of $148.80 million for the quarter, compared to analysts’ expectations of $146.88 million. Altair Engineering had a net margin of 4.26% and a return on equity of 6.89%. The business’s revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.15) EPS. On average, equities research analysts forecast that Altair Engineering Inc. will post 0.65 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. GAMMA Investing LLC increased its holdings in shares of Altair Engineering by 52.2% during the third quarter. GAMMA Investing LLC now owns 636 shares of the software’s stock worth $61,000 after purchasing an additional 218 shares during the period. Russell Investments Group Ltd. increased its holdings in shares of Altair Engineering by 5,564.8% during the first quarter. Russell Investments Group Ltd. now owns 31,043 shares of the software’s stock worth $2,676,000 after purchasing an additional 30,495 shares during the period. Moody Aldrich Partners LLC increased its holdings in shares of Altair Engineering by 15.2% during the third quarter. Moody Aldrich Partners LLC now owns 75,233 shares of the software’s stock worth $7,186,000 after purchasing an additional 9,907 shares during the period. Linden Thomas Advisory Services LLC bought a new position in shares of Altair Engineering during the second quarter worth approximately $629,000. Finally, Jane Street Group LLC increased its holdings in shares of Altair Engineering by 960.2% during the first quarter. Jane Street Group LLC now owns 303,672 shares of the software’s stock worth $26,161,000 after purchasing an additional 275,030 shares during the period. 63.38% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on ALTR shares. JPMorgan Chase & Co. cut Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 target price for the company. in a report on Monday, July 15th. Royal Bank of Canada restated a “sector perform” rating and set a $90.00 price objective on shares of Altair Engineering in a research note on Wednesday, October 23rd. The Goldman Sachs Group downgraded shares of Altair Engineering from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $85.00 to $71.00 in a research note on Friday, August 2nd. Finally, Needham & Company LLC restated a “buy” rating and set a $100.00 price objective on shares of Altair Engineering in a research note on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $90.67.

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.