Matthew Charles Brown Sells 742 Shares of Altair Engineering Inc. (NASDAQ:ALTR) Stock

Altair Engineering Inc. (NASDAQ:ALTR) CFO Matthew Charles Brown sold 742 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $111.45, for a total value of $82,695.90. Following the sale, the chief financial officer now owns 68,652 shares of the company’s stock, valued at approximately $7,651,265.40. The trade was a 1.07 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Wednesday, February 26th, Matthew Charles Brown sold 3,811 shares of Altair Engineering stock. The shares were sold at an average price of $111.53, for a total value of $425,040.83.
• On Monday, December 23rd, Matthew Charles Brown sold 1,048 shares of Altair Engineering stock. The stock was sold at an average price of $108.90, for a total value of $114,127.20.

Altair Engineering Price Performance

ALTR stock opened at $111.32 on Thursday. The business has a fifty day moving average price of $110.49 and a 200 day moving average price of $102.79. 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 market capitalization of $9.55 billion, a price-to-earnings ratio of 654.82, a P/E/G ratio of 10.75 and a beta of 1.45.

Altair Engineering (NASDAQ:ALTR) last released its earnings results on Thursday, February 20th. The software reported $0.36 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.15). The firm had revenue of $192.63 million during 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, equities analysts expect that Altair Engineering Inc. will post 0.87 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Altair Engineering

Several hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in shares of Altair Engineering by 14.6% in the 4th quarter. GAMMA Investing LLC now owns 729 shares of the software’s stock valued at $80,000 after buying an additional 93 shares during the period. New York State Teachers Retirement System boosted its position in shares of Altair Engineering by 1.2% in the 3rd quarter. New York State Teachers Retirement System now owns 8,500 shares of the software’s stock worth $812,000 after purchasing an additional 100 shares during the last quarter. Louisiana State Employees Retirement System boosted its position in shares of Altair Engineering by 0.6% in the 4th quarter. Louisiana State Employees Retirement System now owns 16,600 shares of the software’s stock worth $1,811,000 after purchasing an additional 100 shares during the last quarter. State of Michigan Retirement System boosted its position in shares of Altair Engineering by 0.7% in the 4th quarter. State of Michigan Retirement System now owns 14,200 shares of the software’s stock worth $1,549,000 after purchasing an additional 100 shares during the last quarter. Finally, Thrivent Financial for Lutherans boosted its position in shares of Altair Engineering by 0.7% in the 4th quarter. Thrivent Financial for Lutherans now owns 14,065 shares of the software’s stock worth $1,535,000 after purchasing an additional 104 shares during the last quarter. 63.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ALTR shares. Needham & Company LLC reiterated a “hold” rating on shares of Altair Engineering in a research report on Friday, February 21st. Rosenblatt Securities restated a “neutral” rating and set a $113.00 target price 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 given a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average 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.