Insider Selling: Altair Engineering Inc. (NASDAQ:ALTR) CEO Sells 13,000 Shares of Stock

by · The Cerbat Gem

Altair Engineering Inc. (NASDAQ:ALTR – Get Free Report) CEO James Ralph Scapa sold 13,000 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $95.10, for a total value of $1,236,300.00. Following the completion of the transaction, the chief executive officer now owns 134,045 shares of the company’s stock, valued at $12,747,679.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

  • On Wednesday, August 28th, James Ralph Scapa sold 13,000 shares of Altair Engineering stock. The shares were sold at an average price of $89.04, for a total value of $1,157,520.00.
  • On Monday, July 29th, James Ralph Scapa sold 13,000 shares of Altair Engineering stock. The stock was sold at an average price of $88.11, for a total transaction of $1,145,430.00.

Altair Engineering Stock Performance

Shares of ALTR stock opened at $93.94 on Friday. Altair Engineering Inc. has a 52 week low of $57.59 and a 52 week high of $101.39. The company has a market capitalization of $7.80 billion, a price-to-earnings ratio of 1,043.78, a PEG ratio of 12.01 and a beta of 1.45. The company has a 50-day simple moving average of $89.27 and a 200 day simple moving average of $89.26. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.14 and a current ratio of 3.14.

Altair Engineering (NASDAQ:ALTR – Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The software reported $0.16 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.01. The company had revenue of $148.80 million during the quarter, compared to analysts’ expectations of $146.88 million. Altair Engineering had a return on equity of 6.89% and a net margin of 4.26%. The business’s revenue was up 5.4% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.15) earnings per share. On average, sell-side analysts predict that Altair Engineering Inc. will post 0.65 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ALTR. Matrix Capital Management Company LP lifted its holdings in shares of Altair Engineering by 1.6% during the first quarter. Matrix Capital Management Company LP now owns 12,430,000 shares of the software’s stock worth $1,070,844,000 after buying an additional 196,826 shares in the last quarter. Vanguard Group Inc. raised its stake in Altair Engineering by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 5,944,285 shares of the software’s stock worth $512,100,000 after purchasing an additional 182,840 shares in the last quarter. Conestoga Capital Advisors LLC boosted its holdings in Altair Engineering by 2.0% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 2,488,566 shares of the software’s stock valued at $244,079,000 after purchasing an additional 48,485 shares during the period. Wellington Management Group LLP grew its position in shares of Altair Engineering by 97.3% during the 4th quarter. Wellington Management Group LLP now owns 1,182,339 shares of the software’s stock worth $99,494,000 after purchasing an additional 583,127 shares in the last quarter. Finally, William Blair Investment Management LLC bought a new position in shares of Altair Engineering during the second quarter worth approximately $91,589,000. 63.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Needham & Company LLC restated a “buy” rating and set a $100.00 price objective on shares of Altair Engineering in a research note on Friday, August 2nd. The Goldman Sachs Group downgraded Altair Engineering from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $85.00 to $71.00 in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. cut Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 price objective for the company. in a research report on Monday, July 15th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $90.67.

Read Our Latest Research Report on ALTR

About Altair Engineering

(Get Free Report)

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.

Further Reading