Altair Engineering Inc. (NASDAQ:ALTR) CAO Sells $69,647.30 in Stock

Altair Engineering Inc. (NASDAQ:ALTRGet Free Report) CAO Brian Gayle sold 773 shares of the firm’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $90.10, for a total transaction of $69,647.30. Following the transaction, the chief accounting officer now directly owns 18,423 shares of the company’s stock, valued at $1,659,912.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

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

  • On Wednesday, May 8th, Brian Gayle sold 173 shares of Altair Engineering stock. The stock was sold at an average price of $84.38, for a total transaction of $14,597.74.
  • On Monday, March 4th, Brian Gayle sold 193 shares of Altair Engineering stock. The stock was sold at an average price of $85.32, for a total transaction of $16,466.76.
  • On Wednesday, February 28th, Brian Gayle sold 138 shares of Altair Engineering stock. The shares were sold at an average price of $83.65, for a total transaction of $11,543.70.

Altair Engineering Trading Down 0.1 %

Shares of Altair Engineering stock opened at $90.65 on Thursday. The business has a fifty day simple moving average of $84.33 and a two-hundred day simple moving average of $81.80. Altair Engineering Inc. has a 1 year low of $57.59 and a 1 year high of $92.92. The company has a market capitalization of $7.53 billion, a price-to-earnings ratio of 1,007.22, a P/E/G ratio of 11.51 and a beta of 1.42. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.46 and a quick ratio of 2.46.

Altair Engineering (NASDAQ:ALTRGet Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The software reported $0.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.06. Altair Engineering had a return on equity of 5.60% and a net margin of 1.55%. The business had revenue of $172.91 million during the quarter, compared to the consensus estimate of $169.29 million. During the same quarter last year, the firm posted $0.13 EPS. The company’s quarterly revenue was up 4.1% on a year-over-year basis. Research analysts forecast that Altair Engineering Inc. will post 0.66 EPS for the current year.

Institutional Investors Weigh In On Altair Engineering

Hedge funds have recently added to or reduced their stakes in the business. McGlone Suttner Wealth Management Inc. acquired a new stake in Altair Engineering during the 4th quarter valued at $31,000. EdgeRock Capital LLC acquired a new stake in shares of Altair Engineering during the fourth quarter worth $33,000. Harvest Fund Management Co. Ltd lifted its holdings in shares of Altair Engineering by 1,157.7% during the fourth 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. Natixis Investment Managers International lifted its holdings in shares of Altair Engineering by 68.7% during the fourth quarter. Natixis Investment Managers International now owns 1,940 shares of the software’s stock worth $163,000 after buying an additional 790 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Altair Engineering by 10.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,991 shares of the software’s stock worth $125,000 after buying an additional 190 shares in the last quarter. Institutional investors and hedge funds own 63.38% of the company’s stock.

Wall Street Analysts Forecast Growth

ALTR has been the subject of several analyst reports. Rosenblatt Securities reissued a “neutral” rating and issued a $88.00 target price on shares of Altair Engineering in a research note on Monday, April 29th. JPMorgan Chase & Co. raised their target price on shares of Altair Engineering from $86.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, March 26th. Royal Bank of Canada reissued a “sector perform” rating and issued a $90.00 target price on shares of Altair Engineering in a research note on Thursday, March 21st. Needham & Company LLC reissued a “buy” rating and issued a $100.00 target price on shares of Altair Engineering in a research note on Friday, May 3rd. Finally, Oppenheimer raised their target price on shares of Altair Engineering from $95.00 to $100.00 and gave the company an “outperform” rating in a research note on Friday, February 23rd. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $94.60.

View Our Latest Stock Analysis on Altair Engineering

Altair Engineering Company Profile

(Get Free Report)

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.

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