Nelson Dias Sells 1,671 Shares of Altair Engineering Inc. (NASDAQ:ALTR) Stock

Altair Engineering Inc. (NASDAQ:ALTR) CRO Nelson Dias sold 1,671 shares of Altair Engineering stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $111.30, for a total transaction of $185,982.30. Following the completion of the transaction, the executive now owns 55,411 shares in the company, valued at approximately $6,167,244.30. This trade represents a 2.93 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Nelson Dias also recently made the following trade(s):

• On Monday, March 3rd, Nelson Dias sold 491 shares of Altair Engineering stock. The stock was sold at an average price of $111.45, for a total transaction of $54,721.95.
• On Wednesday, February 26th, Nelson Dias sold 373 shares of Altair Engineering stock. The stock was sold at an average price of $111.53, for a total transaction of $41,600.69.

Altair Engineering Stock Performance

NASDAQ ALTR opened at $111.75 on Friday. Altair Engineering Inc. has a twelve month low of $75.71 and a twelve month high of $113.12. The stock has a market cap of $9.59 billion, a price-to-earnings ratio of 657.35, a PEG ratio of 10.75 and a beta of 1.45. The firm’s 50 day moving average price is $110.91 and its two-hundred day moving average price is $104.50.

Altair Engineering (NASDAQ:ALTR) last issued its earnings results on Thursday, February 20th. The software reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.15). The company had revenue of $192.63 million for the quarter, compared to analyst estimates of $182.98 million. Altair Engineering had a net margin of 2.13% and a return on equity of 8.08%. On average, research analysts forecast that Altair Engineering Inc. will post 0.87 EPS for the current fiscal year.

Institutional Investors Weigh In On Altair Engineering

A number of institutional investors have recently modified their holdings of the stock. California State Teachers Retirement System boosted its stake in shares of Altair Engineering by 2.5% during the 4th quarter. California State Teachers Retirement System now owns 55,226 shares of the software’s stock valued at $6,026,000 after buying an additional 1,340 shares during the period. Polar Asset Management Partners Inc. acquired a new stake in shares of Altair Engineering during the 4th quarter valued at $5,456,000. GTS Securities LLC acquired a new stake in shares of Altair Engineering during the 4th quarter valued at $201,000. BCK Capital Management LP acquired a new stake in shares of Altair Engineering during the 4th quarter valued at $1,506,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of 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 buying an additional 254,448 shares during the period. Institutional investors and hedge funds own 63.38% of the company’s stock.

Analysts Set New Price Targets

ALTR has been the topic of several recent research reports. Needham & Company LLC restated a “hold” rating on shares of Altair Engineering in a research report on Friday, February 21st. Rosenblatt Securities reiterated a “neutral” rating and set a $113.00 price objective on shares of Altair Engineering in a research report on Monday, February 24th. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat.com, 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.