Insider Selling: Altair Engineering Inc. (NASDAQ:ALTR) CEO Sells $1,145,430.00 in Stock

Altair Engineering Inc. (NASDAQ:ALTR) CEO James Ralph Scapa sold 13,000 shares of Altair Engineering stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $88.11, for a total transaction of $1,145,430.00. Following the completion of the transaction, the chief executive officer now owns 134,045 shares of the company’s stock, valued at $11,810,704.95. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Friday, June 28th, James Ralph Scapa sold 13,000 shares of Altair Engineering stock. The shares were sold at an average price of $98.26, for a total transaction of $1,277,380.00.
• On Monday, June 10th, James Ralph Scapa sold 13,000 shares of Altair Engineering stock. The shares were sold at an average price of $93.16, for a total transaction of $1,211,080.00.
• On Wednesday, May 8th, James Ralph Scapa sold 5,560 shares of Altair Engineering stock. The shares were sold at an average price of $84.37, for a total transaction of $469,097.20.

Altair Engineering Stock Performance

Altair Engineering stock opened at $85.32 on Friday. The company has a quick ratio of 2.46, a current ratio of 2.46 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $7.08 billion, a PE ratio of 948.00, a P/E/G ratio of 10.92 and a beta of 1.48. The firm has a fifty day simple moving average of $93.54 and a two-hundred day simple moving average of $88.16. Altair Engineering Inc. has a twelve month low of $57.59 and a twelve month high of $101.39.

Altair Engineering (NASDAQ:ALTR) last released its quarterly earnings data on Thursday, May 2nd. The software reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.06. Altair Engineering had a net margin of 1.55% and a return on equity of 5.60%. The firm had revenue of $172.91 million for the quarter, compared to analysts’ expectations of $169.29 million. During the same quarter in the previous year, the company earned $0.13 earnings per share. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. Research analysts expect that Altair Engineering Inc. will post 0.66 EPS for the current year.

Hedge Funds Weigh In On Altair Engineering

A number of hedge funds have recently modified their holdings of ALTR. EdgeRock Capital LLC purchased a new position in shares of Altair Engineering in the fourth quarter valued at about $33,000. GAMMA Investing LLC increased its position in shares of 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 acquiring an additional 188 shares during the period. FSC Wealth Advisors LLC increased its position in shares of 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 acquiring an additional 243 shares during the period. Harvest Fund Management Co. Ltd increased its position in shares of Altair Engineering by 1,157.7% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 981 shares of the software’s stock valued at $83,000 after acquiring an additional 903 shares during the period. Finally, Van ECK Associates Corp increased its position in shares of Altair Engineering by 41.7% in the second quarter. Van ECK Associates Corp now owns 1,057 shares of the software’s stock valued at $104,000 after acquiring an additional 311 shares during the period. Hedge funds and other institutional investors own 63.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ALTR shares. JPMorgan Chase & Co. downgraded shares of Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 price objective for the company. in a report on Monday, July 15th. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price objective on shares of Altair Engineering in a report on Friday, May 3rd. Finally, Rosenblatt Securities reissued a “neutral” rating and issued a $88.00 price target on shares of Altair Engineering in a research note on Monday, April 29th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $94.60.

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.