Altair Engineering Inc. (NASDAQ:ALTR) Major Shareholder Sells $207,394.56 in Stock

Altair Engineering Inc. (NASDAQ:ALTR) major shareholder George J. Christ sold 2,176 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $95.31, for a total transaction of $207,394.56. Following the completion of the transaction, the insider now owns 300,000 shares in the company, valued at approximately $28,593,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

Altair Engineering Price Performance

NASDAQ ALTR opened at $95.79 on Friday. Altair Engineering Inc. has a fifty-two week low of $57.59 and a fifty-two week high of $101.39. The stock’s 50-day moving average is $91.25 and its two-hundred day moving average is $90.03. The firm has a market cap of $7.95 billion, a P/E ratio of 1,064.33, a price-to-earnings-growth ratio of 12.15 and a beta of 1.45. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.14 and a quick ratio of 3.14.

Altair Engineering (NASDAQ:ALTR) last issued its quarterly earnings data on Thursday, August 1st. The software reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. The business had revenue of $148.80 million for the quarter, compared to the consensus estimate of $146.88 million. Altair Engineering had a return on equity of 6.89% and a net margin of 4.26%. The firm’s revenue was up 5.4% compared to the same quarter last year. During the same period last year, the business earned ($0.15) EPS. On average, analysts anticipate that Altair Engineering Inc. will post 0.65 earnings per share for the current fiscal year.

Institutional Trading of Altair Engineering

Institutional investors and hedge funds have recently modified their holdings of the company. ProShare Advisors LLC lifted its position in Altair Engineering by 1.6% during the 2nd quarter. ProShare Advisors LLC now owns 10,219 shares of the software’s stock worth $1,002,000 after acquiring an additional 160 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Altair Engineering by 81.7% during the 2nd quarter. GAMMA Investing LLC now owns 418 shares of the software’s stock worth $41,000 after purchasing an additional 188 shares during the last quarter. American International Group Inc. boosted its stake in Altair Engineering by 0.7% during the 4th quarter. American International Group Inc. now owns 27,018 shares of the software’s stock valued at $2,274,000 after purchasing an additional 189 shares during the period. FSC Wealth Advisors LLC grew its holdings in Altair Engineering by 41.3% in the 2nd quarter. FSC Wealth Advisors LLC now owns 832 shares of the software’s stock valued at $82,000 after buying an additional 243 shares during the last quarter. Finally, Cullen Frost Bankers Inc. increased its position in Altair Engineering by 6.8% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 4,356 shares of the software’s stock worth $427,000 after buying an additional 276 shares during the period. 63.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

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.