Altair Engineering Inc. (NASDAQ:ALTR) Major Shareholder George J. Christ Sells 12,783 Shares of Stock

Altair Engineering Inc. (NASDAQ:ALTR) major shareholder George J. Christ sold 12,783 shares of the company’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $85.85, for a total transaction of $1,097,420.55. Following the completion of the transaction, the insider now directly owns 187,217 shares in the company, valued at $16,072,579.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

George J. Christ also recently made the following trade(s):

• On Tuesday, January 23rd, George J. Christ sold 100,000 shares of Altair Engineering stock. The stock was sold at an average price of $87.32, for a total transaction of $8,732,000.00.

Altair Engineering Price Performance

Shares of ALTR stock opened at $83.67 on Friday. Altair Engineering Inc. has a 12-month low of $57.59 and a 12-month high of $92.92. The firm has a market capitalization of $6.90 billion, a price-to-earnings ratio of -643.62, a price-to-earnings-growth ratio of 11.46 and a beta of 1.42. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.32. The firm has a fifty day moving average of $85.43 and a 200-day moving average of $77.29.

Altair Engineering (NASDAQ:ALTR) last announced its quarterly earnings results on Thursday, February 22nd. The software reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.07. Altair Engineering had a negative net margin of 1.46% and a positive return on equity of 3.77%. The company had revenue of $171.50 million during the quarter, compared to analyst estimates of $172.48 million. On average, equities research analysts forecast that Altair Engineering Inc. will post 0.63 earnings per share for the current year.

Institutional Investors Weigh In On Altair Engineering

Several institutional investors have recently added to or reduced their stakes in the stock. McGlone Suttner Wealth Management Inc. bought a new stake in Altair Engineering during the 4th quarter worth about $31,000. EdgeRock Capital LLC bought a new stake in Altair Engineering during the 4th quarter worth about $33,000. UBS Group AG lifted its position in Altair Engineering by 48.7% during the 4th quarter. UBS Group AG now owns 938 shares of the software’s stock worth $43,000 after buying an additional 307 shares in the last quarter. Harvest Fund Management Co. Ltd lifted its position in Altair Engineering by 1,157.7% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 981 shares of the software’s stock worth $83,000 after buying an additional 903 shares in the last quarter. Finally, Tower Research Capital LLC TRC lifted its position in Altair Engineering by 17.2% during the 3rd quarter. Tower Research Capital LLC TRC now owns 1,481 shares of the software’s stock worth $93,000 after buying an additional 217 shares in the last quarter. 63.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on ALTR shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $90.00 price objective on shares of Altair Engineering in a report on Thursday, March 21st. Rosenblatt Securities reiterated a “neutral” rating and issued a $88.00 price objective (up from $74.00) on shares of Altair Engineering in a report on Friday, February 23rd. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price objective on shares of Altair Engineering in a report on Monday, March 25th. JPMorgan Chase & Co. upped their price objective on shares of Altair Engineering from $86.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, March 26th. Finally, Oppenheimer upped their price objective on shares of Altair Engineering from $95.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $88.71.

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.