Insider Selling: Altair Engineering Inc. (NASDAQ:ALTR) CAO Sells 137 Shares of Stock

Altair Engineering Inc. (NASDAQ:ALTR) CAO Brian Gayle sold 137 shares of Altair Engineering stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $111.53, for a total transaction of $15,279.61. Following the completion of the sale, the chief accounting officer now owns 18,374 shares in the company, valued at $2,049,252.22. This trade represents a 0.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Altair Engineering Trading Up 0.0 %

ALTR traded up $0.05 during trading on Thursday, hitting $111.65. 274,449 shares of the company traded hands, compared to its average volume of 767,923. The company has a market cap of $9.50 billion, a PE ratio of 656.82, a P/E/G ratio of 10.75 and a beta of 1.42. Altair Engineering Inc. has a 1 year low of $75.71 and a 1 year high of $113.12. The stock’s 50-day simple moving average is $110.21 and its two-hundred day simple moving average is $102.03.

Altair Engineering (NASDAQ:ALTR) last announced 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 net margin of 2.13% and a return on equity of 8.08%. The firm had revenue of $192.63 million during the quarter, compared to analysts’ expectations of $182.98 million. Equities analysts expect that Altair Engineering Inc. will post 0.87 EPS for the current year.

Institutional Investors Weigh In On Altair Engineering

A number of hedge funds have recently made changes to their positions in ALTR. Polar Asset Management Partners Inc. purchased a new position in Altair Engineering during the 4th quarter worth $5,456,000. GTS Securities LLC purchased a new stake in shares of Altair Engineering during the fourth quarter valued at $201,000. BCK Capital Management LP purchased a new position in Altair Engineering in the 4th quarter worth $1,506,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Altair Engineering by 201.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 381,061 shares of the software’s stock valued at $41,578,000 after purchasing an additional 254,448 shares during the last quarter. Finally, Voloridge Investment Management LLC acquired a new position in shares of Altair Engineering in the fourth quarter valued at about $4,580,000. 63.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada lifted their target price on Altair Engineering from $90.00 to $113.00 and gave the stock a “sector perform” rating in a report on Thursday, October 31st. Rosenblatt Securities reissued a “neutral” rating and issued a $113.00 price objective on shares of Altair Engineering in a research note on Monday. Loop Capital restated a “hold” rating and set a $113.00 price target on shares of Altair Engineering in a report on Thursday, October 31st. Needham & Company LLC reissued a “hold” rating on shares of Altair Engineering in a research report on Friday, February 21st. Finally, Wolfe Research lowered Altair Engineering from a “strong-buy” rating to a “hold” rating in a report on Sunday, November 3rd. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat.com, Altair Engineering currently has an average rating of “Hold” and an average target price of $100.83.

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.