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

Altair Engineering Inc. (NASDAQ:ALTR) CFO Matthew Charles Brown sold 3,811 shares of the business’s stock in a transaction dated 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 directly owns 69,394 shares in the company, valued at $7,739,512.82. This trade represents a 5.21 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.

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 stock was sold at an average price of $108.90, for a total transaction of $114,127.20.

Altair Engineering Stock Up 0.1 %

Shares of ALTR opened at $111.60 on Friday. The business’s 50-day moving average price is $110.34 and its 200-day moving average price is $102.26. Altair Engineering Inc. has a twelve month low of $75.71 and a twelve month high of $113.12. The stock has a market cap of $9.50 billion, a PE ratio of 656.47, a P/E/G 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 for the quarter, missing the consensus estimate of $0.51 by ($0.15). Altair Engineering had a net margin of 2.13% and a return on equity of 8.08%. The company had revenue of $192.63 million for the quarter, compared to the consensus estimate of $182.98 million. Analysts expect that Altair Engineering Inc. will post 0.87 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on ALTR shares. Rosenblatt Securities restated a “neutral” rating and issued a $113.00 price objective on shares of Altair Engineering in a research note on Monday, February 24th. Needham & Company LLC restated a “hold” rating on shares of Altair Engineering in a research note on Friday, February 21st. Finally, Wolfe Research cut Altair Engineering from a “strong-buy” rating to a “hold” rating in a research note 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’s stock. According to data from MarketBeat.com, Altair Engineering has a consensus rating of “Hold” and a consensus price target of $100.83.

Institutional Investors Weigh In On Altair Engineering

Hedge funds and other institutional investors have recently modified their holdings of the stock. NBT Bank N A NY increased its position in shares of Altair Engineering by 76.4% during the fourth quarter. NBT Bank N A NY now owns 247 shares of the software’s stock valued at $27,000 after buying an additional 107 shares during the period. UMB Bank n.a. increased its position in shares of Altair Engineering by 77.0% in the fourth quarter. UMB Bank n.a. now owns 285 shares of the software’s stock worth $31,000 after purchasing an additional 124 shares during the last quarter. Blue Trust Inc. increased its position in shares of Altair Engineering by 572.1% in the third quarter. Blue Trust Inc. now owns 289 shares of the software’s stock worth $28,000 after purchasing an additional 246 shares during the last quarter. Johnson Financial Group Inc. bought a new position in shares of Altair Engineering in the fourth quarter worth approximately $37,000. Finally, GAMMA Investing LLC increased its position in shares of Altair Engineering by 14.6% in the fourth quarter. GAMMA Investing LLC now owns 729 shares of the software’s stock worth $80,000 after purchasing an additional 93 shares during the last quarter. 63.38% of the stock is currently owned by institutional investors.

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.