James Ralph Scapa Sells 36,722 Shares of Altair Engineering Inc. (NASDAQ:ALTR) Stock

Altair Engineering Inc. (NASDAQ:ALTR) CEO James Ralph Scapa sold 36,722 shares of the firm’s stock in a transaction that occurred on Friday, September 17th. The shares were sold at an average price of $74.67, for a total transaction of $2,742,031.74. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

  • On Wednesday, September 15th, James Ralph Scapa sold 16,382 shares of Altair Engineering stock. The shares were sold at an average price of $75.41, for a total transaction of $1,235,366.62.
  • On Wednesday, August 18th, James Ralph Scapa sold 23,628 shares of Altair Engineering stock. The stock was sold at an average price of $70.93, for a total transaction of $1,675,934.04.
  • On Monday, August 16th, James Ralph Scapa sold 33,434 shares of Altair Engineering stock. The stock was sold at an average price of $72.12, for a total transaction of $2,411,260.08.
  • On Monday, July 19th, James Ralph Scapa sold 15,922 shares of Altair Engineering stock. The shares were sold at an average price of $64.97, for a total transaction of $1,034,452.34.
  • On Thursday, July 15th, James Ralph Scapa sold 26,003 shares of Altair Engineering stock. The shares were sold at an average price of $66.02, for a total transaction of $1,716,718.06.

ALTR traded down $3.10 during trading on Monday, hitting $71.79. 1,959 shares of the stock were exchanged, compared to its average volume of 270,404. Altair Engineering Inc. has a 1 year low of $39.37 and a 1 year high of $76.91. The firm has a 50 day simple moving average of $71.57 and a 200 day simple moving average of $67.19. The firm has a market cap of $5.42 billion, a price-to-earnings ratio of -832.11 and a beta of 1.50.

Altair Engineering (NASDAQ:ALTR) last announced its quarterly earnings results on Thursday, August 5th. The software reported ($0.04) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.11) by $0.07. Altair Engineering had a positive return on equity of 4.74% and a negative net margin of 1.10%. The business had revenue of $119.91 million for the quarter, compared to the consensus estimate of $111.50 million. As a group, equities analysts forecast that Altair Engineering Inc. will post 0.13 EPS for the current year.

ALTR has been the topic of a number of recent research reports. William Blair restated a “buy” rating on shares of Altair Engineering in a report on Tuesday, September 7th. Zacks Investment Research upgraded shares of Altair Engineering from a “hold” rating to a “buy” rating and set a $79.00 price target on the stock in a report on Tuesday, August 10th. Royal Bank of Canada raised their target price on shares of Altair Engineering from $64.00 to $74.00 and gave the stock a “sector perform” rating in a report on Friday, August 6th. Rosenblatt Securities increased their price target on shares of Altair Engineering from $79.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, August 6th. Finally, Guggenheim restated a “hold” rating on shares of Altair Engineering in a research report on Sunday, May 30th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Altair Engineering has a consensus rating of “Buy” and an average target price of $71.00.

A number of hedge funds have recently made changes to their positions in the stock. Parametric Portfolio Associates LLC grew its stake in Altair Engineering by 5.2% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 23,356 shares of the software’s stock worth $1,611,000 after buying an additional 1,150 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Altair Engineering during the 2nd quarter worth about $254,000. Comerica Bank lifted its position in Altair Engineering by 2.3% during the 2nd quarter. Comerica Bank now owns 159,592 shares of the software’s stock worth $11,625,000 after acquiring an additional 3,646 shares during the period. Invesco Ltd. lifted its position in Altair Engineering by 6,725.4% during the 2nd quarter. Invesco Ltd. now owns 1,353,131 shares of the software’s stock worth $93,326,000 after acquiring an additional 1,333,306 shares during the period. Finally, Metropolitan Life Insurance Co NY lifted its position in Altair Engineering by 105,475.0% during the 2nd quarter. Metropolitan Life Insurance Co NY now owns 12,669 shares of the software’s stock worth $874,000 after acquiring an additional 12,657 shares during the period. Hedge funds and other institutional investors own 58.53% of the company’s stock.

Altair Engineering Company Profile

Altair Engineering, Inc engages in the provision of software and cloud solutions for product design & development, high performance cloud computing and data intelligence. It operates through the following segments: Software and Client Engineering Services. The Software segment includes a portfolio of software products; as well as solvers and optimization technology products, modelling and visualization tools.

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