Uwe Schramm Sells 4,449 Shares of Altair Engineering Inc. (NASDAQ:ALTR) Stock

Altair Engineering Inc. (NASDAQ:ALTR) insider Uwe Schramm sold 4,449 shares of the business’s stock in a transaction that occurred on Tuesday, June 8th. The stock was sold at an average price of $66.83, for a total value of $297,326.67. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

Uwe Schramm also recently made the following trade(s):

  • On Friday, June 4th, Uwe Schramm sold 3,551 shares of Altair Engineering stock. The stock was sold at an average price of $66.63, for a total transaction of $236,603.13.

Altair Engineering stock opened at $65.47 on Friday. The firm has a 50 day moving average price of $65.25. Altair Engineering Inc. has a 12 month low of $35.79 and a 12 month high of $69.00. The firm has a market cap of $4.92 billion, a PE ratio of -1,309.40 and a beta of 1.50.

Altair Engineering (NASDAQ:ALTR) last posted its earnings results on Thursday, May 6th. The software reported $0.31 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.10. The business had revenue of $150.16 million for the quarter, compared to analysts’ expectations of $139.40 million. Altair Engineering had a negative net margin of 0.44% and a positive return on equity of 4.01%. The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.16 earnings per share. On average, equities analysts expect that Altair Engineering Inc. will post -0.04 earnings per share for the current year.

Several research analysts have recently weighed in on ALTR shares. William Blair raised shares of Altair Engineering from a “market perform” rating to an “outperform” rating in a research report on Friday, May 7th. Guggenheim reissued a “hold” rating on shares of Altair Engineering in a research note on Sunday, May 30th. Royal Bank of Canada increased their price target on shares of Altair Engineering from $49.00 to $58.00 and gave the stock a “sector perform” rating in a research note on Friday, February 19th. Zacks Investment Research downgraded Altair Engineering from a “hold” rating to a “sell” rating in a report on Wednesday, May 19th. Finally, The Goldman Sachs Group assumed coverage on Altair Engineering in a research note on Friday, May 14th. They set a “buy” rating and a $68.00 target price for the company. One analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. Altair Engineering currently has an average rating of “Buy” and a consensus price target of $61.00.

Several institutional investors and hedge funds have recently modified their holdings of ALTR. Steward Partners Investment Advisory LLC boosted its stake in Altair Engineering by 49.4% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 478 shares of the software’s stock valued at $28,000 after buying an additional 158 shares in the last quarter. Quantbot Technologies LP boosted its stake in shares of Altair Engineering by 1,620.0% in the 1st quarter. Quantbot Technologies LP now owns 516 shares of the software’s stock valued at $32,000 after purchasing an additional 486 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in shares of Altair Engineering in the 4th quarter valued at $32,000. Meeder Asset Management Inc. bought a new stake in shares of Altair Engineering in the 1st quarter worth about $40,000. Finally, FORA Capital LLC acquired a new stake in shares of Altair Engineering during the 1st quarter worth about $79,000. 57.05% of the stock is owned by institutional investors and hedge funds.

Altair Engineering Company Profile

Altair Engineering Inc, together with its subsidiaries, provides software and cloud solutions in the areas of simulation, high-performance computing, data analytics, and artificial intelligence worldwide. The company operates through two segments, Software and Client Engineering Services. Its software segment includes solvers and optimization technology products, high-performance computing software applications and hardware products, modeling and visualization tools, data analytics and analysis products, and IoT platform and analytics tools, as well as support and complementary software products.

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Insider Buying and Selling by Quarter for Altair Engineering (NASDAQ:ALTR)

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