James Ralph Scapa Sells 13,000 Shares of Altair Engineering Inc. (NASDAQ:ALTR) Stock

Altair Engineering Inc. (NASDAQ:ALTR) CEO James Ralph Scapa sold 13,000 shares of the business’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $98.26, for a total transaction of $1,277,380.00. Following the sale, the chief executive officer now directly owns 134,045 shares in the company, valued at $13,171,261.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

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

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

Altair Engineering Price Performance

ALTR traded down $0.54 during midday trading on Monday, hitting $97.54. 373,999 shares of the company traded hands, compared to its average volume of 509,430. The company has a current ratio of 2.46, a quick ratio of 2.46 and a debt-to-equity ratio of 0.30. Altair Engineering Inc. has a 52-week low of $57.59 and a 52-week high of $100.79. The company has a market capitalization of $8.10 billion, a price-to-earnings ratio of 1,083.78, a PEG ratio of 12.34 and a beta of 1.48. The business has a 50 day simple moving average of $89.77 and a two-hundred day simple moving average of $85.99.

Altair Engineering (NASDAQ:ALTR) last released its earnings results on Thursday, May 2nd. The software reported $0.40 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.06. The business had revenue of $172.91 million for the quarter, compared to analyst estimates of $169.29 million. Altair Engineering had a net margin of 1.55% and a return on equity of 5.60%. The business’s revenue was up 4.1% on a year-over-year basis. During the same period last year, the company posted $0.13 EPS. On average, equities analysts forecast that Altair Engineering Inc. will post 0.66 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ALTR has been the topic of several research reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $90.00 price target on shares of Altair Engineering in a report on Thursday, March 21st. JPMorgan Chase & Co. increased their price objective on shares of Altair Engineering from $86.00 to $95.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 26th. Needham & Company LLC restated a “buy” rating and set a $100.00 target price on shares of Altair Engineering in a research report on Friday, May 3rd. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and set a $88.00 price target on shares of Altair Engineering in a research report on Monday, April 29th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $94.60.

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 stock. McGlone Suttner Wealth Management Inc. purchased a new position in shares of Altair Engineering during the 4th quarter worth $31,000. EdgeRock Capital LLC purchased a new position in Altair Engineering during the fourth quarter worth about $33,000. Harvest Fund Management Co. Ltd boosted its holdings in Altair Engineering by 1,157.7% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 981 shares of the software’s stock valued at $83,000 after purchasing an additional 903 shares during the last quarter. Natixis Investment Managers International grew its stake in shares of Altair Engineering by 68.7% in the 4th quarter. Natixis Investment Managers International now owns 1,940 shares of the software’s stock valued at $163,000 after buying an additional 790 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in shares of Altair Engineering during the 1st quarter worth approximately $177,000. Institutional investors and hedge funds own 63.38% of the company’s stock.

Altair Engineering Company Profile

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.