Insider Selling: Altair Engineering Inc. (NASDAQ:ALTR) CRO Sells 373 Shares of Stock

Altair Engineering Inc. (NASDAQ:ALTR) CRO Nelson Dias sold 373 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $111.53, for a total value of $41,600.69. Following the completion of the sale, the executive now owns 57,573 shares of the company’s stock, valued at approximately $6,421,116.69. This represents a 0.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Tuesday, December 10th, Nelson Dias sold 22,500 shares of Altair Engineering stock. The shares were sold at an average price of $106.23, for a total value of $2,390,175.00.

Altair Engineering Stock Up 0.0 %

ALTR traded up $0.05 on Thursday, reaching $111.65. The company’s stock had a trading volume of 274,449 shares, compared to its average volume of 767,923. The company has a market capitalization of $9.50 billion, a price-to-earnings ratio of 656.82, a P/E/G ratio of 10.75 and a beta of 1.42. Altair Engineering Inc. has a fifty-two week low of $75.71 and a fifty-two week high of $113.12. The stock has a 50 day moving average of $110.21 and a two-hundred day moving average of $102.03.

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

Institutional Trading of Altair Engineering

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. NBT Bank N A NY increased its stake in shares of Altair Engineering by 76.4% during the 4th quarter. NBT Bank N A NY now owns 247 shares of the software’s stock valued at $27,000 after acquiring an additional 107 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Altair Engineering by 572.1% during the third quarter. Blue Trust Inc. now owns 289 shares of the software’s stock valued at $28,000 after acquiring an additional 246 shares in the last quarter. UMB Bank n.a. raised its position in shares of Altair Engineering by 77.0% in the 4th quarter. UMB Bank n.a. now owns 285 shares of the software’s stock valued at $31,000 after purchasing an additional 124 shares in the last quarter. Johnson Financial Group Inc. acquired a new stake in shares of Altair Engineering in the 4th quarter valued at about $37,000. Finally, GAMMA Investing LLC lifted its holdings in Altair Engineering by 14.6% during the 4th quarter. GAMMA Investing LLC now owns 729 shares of the software’s stock worth $80,000 after buying an additional 93 shares during the last quarter. Hedge funds and other institutional investors own 63.38% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on ALTR shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Altair Engineering in a research note on Friday, February 21st. Royal Bank of Canada raised their price objective on Altair Engineering from $90.00 to $113.00 and gave the company a “sector perform” rating in a research report on Thursday, October 31st. Rosenblatt Securities reaffirmed a “neutral” rating and set a $113.00 price target on shares of Altair Engineering in a report on Monday. Loop Capital restated a “hold” rating and set a $113.00 price target on shares of Altair Engineering in a research note on Thursday, October 31st. Finally, Wolfe Research lowered Altair Engineering from a “strong-buy” rating to a “hold” rating in a report on Sunday, November 3rd. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat, Altair Engineering currently has an average rating of “Hold” and a consensus target price of $100.83.

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.