Altair Engineering Inc. (NASDAQ:ALTR) CAO Sells $20,506.80 in Stock

Altair Engineering Inc. (NASDAQ:ALTR) CAO Brian Gayle sold 184 shares of Altair Engineering stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $111.45, for a total transaction of $20,506.80. Following the completion of the sale, the chief accounting officer now owns 18,190 shares in the company, valued at $2,027,275.50. This trade represents a 1.00 % 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.

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

• On Wednesday, February 26th, Brian Gayle sold 137 shares of Altair Engineering stock. The stock was sold at an average price of $111.53, for a total transaction of $15,279.61.

Altair Engineering Stock Down 0.0 %

ALTR opened at $111.32 on Thursday. Altair Engineering Inc. has a twelve month low of $75.71 and a twelve month high of $113.12. The company has a 50-day simple moving average of $110.49 and a 200 day simple moving average of $102.79. The stock has a market capitalization of $9.55 billion, a price-to-earnings ratio of 654.82, a P/E/G 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 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $182.98 million. Sell-side analysts anticipate that Altair Engineering Inc. will post 0.87 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC raised its stake in Altair Engineering by 14.6% during the fourth quarter. GAMMA Investing LLC now owns 729 shares of the software’s stock worth $80,000 after acquiring an additional 93 shares in the last quarter. New York State Teachers Retirement System raised its stake in Altair Engineering by 1.2% during the third quarter. New York State Teachers Retirement System now owns 8,500 shares of the software’s stock worth $812,000 after acquiring an additional 100 shares in the last quarter. Louisiana State Employees Retirement System raised its stake in Altair Engineering by 0.6% during the fourth quarter. Louisiana State Employees Retirement System now owns 16,600 shares of the software’s stock worth $1,811,000 after acquiring an additional 100 shares in the last quarter. State of Michigan Retirement System raised its stake in Altair Engineering by 0.7% during the fourth quarter. State of Michigan Retirement System now owns 14,200 shares of the software’s stock worth $1,549,000 after acquiring an additional 100 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in Altair Engineering by 0.7% during the fourth quarter. Thrivent Financial for Lutherans now owns 14,065 shares of the software’s stock worth $1,535,000 after acquiring an additional 104 shares in the last quarter. Institutional investors and hedge funds own 63.38% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on ALTR. Rosenblatt Securities restated a “neutral” rating and set a $113.00 target price on shares of Altair Engineering in a report on Monday, February 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of Altair Engineering in a research report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. According to data from MarketBeat, Altair Engineering presently has a consensus rating of “Hold” and a consensus target price of $100.83.

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.