Altair Engineering Inc. (NASDAQ:ALTR) CFO Matthew Charles Brown Sells 3,811 Shares

Altair Engineering Inc. (NASDAQ:ALTR) CFO Matthew Charles Brown sold 3,811 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $111.53, for a total transaction of $425,040.83. Following the completion of the transaction, the chief financial officer now owns 69,394 shares in the company, valued at approximately $7,739,512.82. This represents a 5.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Matthew Charles Brown also recently made the following trade(s):

• On Monday, December 23rd, Matthew Charles Brown sold 1,048 shares of Altair Engineering stock. The shares were sold at an average price of $108.90, for a total value of $114,127.20.

Altair Engineering Stock Down 0.1 %

NASDAQ ALTR opened at $111.49 on Friday. Altair Engineering Inc. has a 52 week low of $75.71 and a 52 week high of $113.12. The firm has a 50 day moving average of $110.29 and a two-hundred day moving average of $102.10. The stock has a market capitalization of $9.49 billion, a PE ratio of 655.82, a price-to-earnings-growth ratio of 10.75 and a beta of 1.42.

Altair Engineering (NASDAQ:ALTR) last announced its quarterly 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). Altair Engineering had a return on equity of 8.08% and a net margin of 2.13%. The business had revenue of $192.63 million for the quarter, compared to analysts’ expectations of $182.98 million. On average, equities research analysts expect that Altair Engineering Inc. will post 0.87 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Altair Engineering

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. NBT Bank N A NY raised its holdings in Altair Engineering by 76.4% during the fourth quarter. NBT Bank N A NY now owns 247 shares of the software’s stock worth $27,000 after purchasing an additional 107 shares in the last quarter. Blue Trust Inc. grew its position in shares of Altair Engineering by 572.1% in the 3rd quarter. Blue Trust Inc. now owns 289 shares of the software’s stock valued at $28,000 after buying an additional 246 shares during the last quarter. UMB Bank n.a. lifted its position in Altair Engineering by 77.0% in the fourth quarter. UMB Bank n.a. now owns 285 shares of the software’s stock valued at $31,000 after acquiring an additional 124 shares during the last quarter. Johnson Financial Group Inc. purchased a new stake in Altair Engineering in the fourth quarter valued at $37,000. Finally, GAMMA Investing LLC boosted its stake in Altair Engineering by 14.6% in the fourth quarter. GAMMA Investing LLC now owns 729 shares of the software’s stock valued at $80,000 after acquiring an additional 93 shares in the last quarter. 63.38% of the stock is owned by institutional investors and hedge funds.

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.