Altair Engineering Inc. (NASDAQ:ALTR) CAO Sells $20,256.60 in Stock

Altair Engineering Inc. (NASDAQ:ALTR) CAO Brian Gayle sold 182 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $111.30, for a total transaction of $20,256.60. Following the completion of the sale, the chief accounting officer now owns 18,008 shares in the company, valued at $2,004,290.40. The trade was a 1.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Brian Gayle also recently made the following trade(s):

• On Monday, March 3rd, Brian Gayle sold 184 shares of Altair Engineering stock. The shares were sold at an average price of $111.45, for a total transaction of $20,506.80.
• On Wednesday, February 26th, Brian Gayle sold 137 shares of Altair Engineering stock. The shares were sold at an average price of $111.53, for a total transaction of $15,279.61.

Altair Engineering Price Performance

Altair Engineering stock traded up $0.10 during midday trading on Wednesday, reaching $111.54. The stock had a trading volume of 326,965 shares, compared to its average volume of 645,046. The firm’s fifty day simple moving average is $110.83 and its two-hundred day simple moving average is $104.25. Altair Engineering Inc. has a twelve month low of $75.71 and a twelve month high of $113.12. The firm has a market cap of $9.57 billion, a price-to-earnings ratio of 656.06, a PEG ratio of 10.75 and a beta of 1.45.

Altair Engineering (NASDAQ:ALTR) last posted its quarterly earnings data on Thursday, February 20th. The software reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.15). Altair Engineering had a return on equity of 8.08% and a net margin of 2.13%. The firm had revenue of $192.63 million during the quarter, compared to analyst estimates of $182.98 million. As a group, sell-side analysts predict that Altair Engineering Inc. will post 0.87 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on ALTR. Rosenblatt Securities restated a “neutral” rating and issued a $113.00 price target on shares of Altair Engineering in a research note on Monday, February 24th. Needham & Company LLC reiterated a “hold” rating on shares of Altair Engineering in a research note on Friday, February 21st. 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 price target of $100.83.

Institutional Investors Weigh In On Altair Engineering

Institutional investors have recently modified their holdings of the stock. NBT Bank N A NY boosted its stake in shares of Altair Engineering by 76.4% during the 4th quarter. NBT Bank N A NY now owns 247 shares of the software’s stock valued at $27,000 after buying an additional 107 shares during the period. UMB Bank n.a. boosted its stake in shares of Altair Engineering by 77.0% during the 4th quarter. UMB Bank n.a. now owns 285 shares of the software’s stock valued at $31,000 after buying an additional 124 shares during the period. Johnson Financial Group Inc. acquired a new stake in shares of Altair Engineering during the 4th quarter valued at $37,000. GAMMA Investing LLC boosted its stake in shares of Altair Engineering by 14.6% during the 4th quarter. GAMMA Investing LLC now owns 729 shares of the software’s stock valued at $80,000 after buying an additional 93 shares during the period. Finally, Blue Trust Inc. boosted its stake in shares of Altair Engineering by 185.5% during the 4th quarter. Blue Trust Inc. now owns 825 shares of the software’s stock valued at $90,000 after buying an additional 536 shares during the period. Institutional investors and hedge funds own 63.38% of the company’s stock.

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.