Altair Engineering Inc. (NASDAQ:ALTR) CAO Sells $14,597.74 in Stock

Altair Engineering Inc. (NASDAQ:ALTR) CAO Brian Gayle sold 173 shares of the firm’s stock in a transaction that occurred on Wednesday, May 8th. The stock was sold at an average price of $84.38, for a total transaction of $14,597.74. Following the transaction, the chief accounting officer now directly owns 19,196 shares of the company’s stock, valued at $1,619,758.48. The sale was disclosed in a document filed with the SEC, which is available through this link.

Brian Gayle also recently made the following trade(s):

• On Monday, March 4th, Brian Gayle sold 193 shares of Altair Engineering stock. The stock was sold at an average price of $85.32, for a total value of $16,466.76.
• On Wednesday, February 28th, Brian Gayle sold 138 shares of Altair Engineering stock. The shares were sold at an average price of $83.65, for a total transaction of $11,543.70.

Altair Engineering Stock Performance

Shares of ALTR traded up $0.11 during midday trading on Friday, hitting $85.79. 33,499 shares of the stock traded hands, compared to its average volume of 410,856. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.46 and a current ratio of 2.46. The business’s 50 day moving average price is $83.22 and its two-hundred day moving average price is $79.88. The firm has a market capitalization of $7.08 billion, a PE ratio of 952.00, a price-to-earnings-growth ratio of 10.86 and a beta of 1.42. Altair Engineering Inc. has a 1-year low of $57.59 and a 1-year high of $92.92.

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. Altair Engineering had a return on equity of 5.60% and a net margin of 1.55%. The firm had revenue of $172.91 million during the quarter, compared to the consensus estimate of $169.29 million. During the same period in the prior year, the firm posted $0.13 earnings per share. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. Equities research analysts predict that Altair Engineering Inc. will post 0.63 EPS for the current fiscal year.

Institutional Trading of Altair Engineering

Large investors have recently added to or reduced their stakes in the business. SG Americas Securities LLC lifted its position in shares of Altair Engineering by 31.3% during the 3rd quarter. SG Americas Securities LLC now owns 2,171 shares of the software’s stock valued at $136,000 after acquiring an additional 518 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Altair Engineering by 6.6% during the third quarter. Bank of New York Mellon Corp now owns 269,932 shares of the software’s stock valued at $16,887,000 after buying an additional 16,768 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Altair Engineering by 9.1% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,438 shares of the software’s stock valued at $653,000 after buying an additional 870 shares in the last quarter. Strs Ohio boosted its holdings in shares of Altair Engineering by 95.7% in the third quarter. Strs Ohio now owns 9,000 shares of the software’s stock worth $563,000 after buying an additional 4,400 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Altair Engineering by 8.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,535 shares of the software’s stock worth $1,723,000 after acquiring an additional 2,039 shares in the last quarter. 63.38% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on ALTR shares. Rosenblatt Securities restated a “neutral” rating and issued a $88.00 target price on shares of Altair Engineering in a report on Monday, April 29th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $90.00 price objective on shares of Altair Engineering in a report on Thursday, March 21st. JPMorgan Chase & Co. lifted their target price on Altair Engineering from $86.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 26th. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 target price on shares of Altair Engineering in a research report on Friday, May 3rd. Finally, Oppenheimer upped their price target on shares of Altair Engineering from $95.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $94.60.

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.