Altair Engineering Inc. (NASDAQ:ALTR) CEO Sells $1,373,970.00 in Stock

Altair Engineering Inc. (NASDAQ:ALTR) CEO James Ralph Scapa sold 13,000 shares of Altair Engineering stock in a transaction on Friday, November 29th. The shares were sold at an average price of $105.69, for a total value of $1,373,970.00. Following the completion of the transaction, the chief executive officer now owns 134,045 shares in the company, valued at $14,167,216.05. This represents a 8.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

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

• On Monday, October 28th, James Ralph Scapa sold 13,000 shares of Altair Engineering stock. The shares were sold at an average price of $102.59, for a total value of $1,333,670.00.
• On Monday, September 30th, James Ralph Scapa sold 13,000 shares of Altair Engineering stock. The shares were sold at an average price of $95.10, for a total transaction of $1,236,300.00.

Altair Engineering Price Performance

Shares of ALTR opened at $105.30 on Wednesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.27 and a quick ratio of 3.27. The company’s fifty day moving average price is $100.72 and its 200-day moving average price is $94.70. Altair Engineering Inc. has a 1-year low of $70.07 and a 1-year high of $113.12. The firm has a market capitalization of $8.96 billion, a PE ratio of 277.11, a price-to-earnings-growth ratio of 12.16 and a beta of 1.44.

Institutional Trading of Altair Engineering

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. increased its holdings in shares of Altair Engineering by 572.1% in the third quarter. Blue Trust Inc. now owns 289 shares of the software’s stock valued at $28,000 after purchasing an additional 246 shares during the period. GAMMA Investing LLC boosted its position in Altair Engineering by 81.7% in the second quarter. GAMMA Investing LLC now owns 418 shares of the software’s stock valued at $41,000 after buying an additional 188 shares during the last quarter. FSC Wealth Advisors LLC boosted its position in Altair Engineering by 41.3% in the second quarter. FSC Wealth Advisors LLC now owns 832 shares of the software’s stock valued at $82,000 after buying an additional 243 shares during the last quarter. Van ECK Associates Corp increased its holdings in Altair Engineering by 41.7% in the 2nd quarter. Van ECK Associates Corp now owns 1,057 shares of the software’s stock worth $104,000 after buying an additional 311 shares during the period. Finally, KBC Group NV raised its position in Altair Engineering by 17.9% during the 3rd quarter. KBC Group NV now owns 1,640 shares of the software’s stock worth $157,000 after buying an additional 249 shares during the last quarter. Institutional investors and hedge funds own 63.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ALTR shares. Loop Capital reiterated a “hold” rating and set a $113.00 price objective on shares of Altair Engineering in a research note on Thursday, October 31st. Rosenblatt Securities upped their price target on Altair Engineering from $88.00 to $113.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. William Blair reissued a “market perform” rating on shares of Altair Engineering in a research report on Thursday, October 31st. Wolfe Research downgraded Altair Engineering from a “strong-buy” rating to a “hold” rating in a research note on Sunday, November 3rd. Finally, Needham & Company LLC reiterated a “hold” rating and issued a $100.00 price target on shares of Altair Engineering in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. According to MarketBeat.com, Altair Engineering has a consensus rating of “Hold” and a consensus price target of $100.71.

Altair Engineering Company Profile

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.