Altair Engineering Inc. (NASDAQ:ALTR) Major Shareholder Christ Revocable Trust Sells 100,000 Shares of Stock

Altair Engineering Inc. (NASDAQ:ALTR) major shareholder Christ Revocable Trust sold 100,000 shares of Altair Engineering stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $106.57, for a total transaction of $10,657,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Christ Revocable Trust also recently made the following trade(s):

• On Friday, September 27th, Christ Revocable Trust sold 50,048 shares of Altair Engineering stock. The stock was sold at an average price of $95.07, for a total transaction of $4,758,063.36.

Altair Engineering Trading Down 1.0 %

ALTR opened at $103.44 on Friday. The stock has a market capitalization of $8.59 billion, a P/E ratio of 1,149.33, a P/E/G ratio of 12.15 and a beta of 1.45. Altair Engineering Inc. has a 12 month low of $57.59 and a 12 month high of $112.15. The firm’s fifty day simple moving average is $92.65 and its 200 day simple moving average is $90.74. The company has a current ratio of 3.14, a quick ratio of 3.14 and a debt-to-equity ratio of 0.29.

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

Institutional Investors Weigh In On Altair Engineering

Several institutional investors have recently added to or reduced their stakes in ALTR. New York State Teachers Retirement System lifted its position in Altair Engineering by 1.2% during the 3rd quarter. New York State Teachers Retirement System now owns 8,500 shares of the software’s stock worth $812,000 after buying an additional 100 shares in the last quarter. State of Alaska Department of Revenue lifted its position in Altair Engineering by 11.5% during the 3rd quarter. State of Alaska Department of Revenue now owns 6,900 shares of the software’s stock worth $659,000 after buying an additional 710 shares in the last quarter. Louisiana State Employees Retirement System lifted its position in Altair Engineering by 2.5% during the 3rd quarter. Louisiana State Employees Retirement System now owns 16,500 shares of the software’s stock worth $1,576,000 after buying an additional 400 shares in the last quarter. Ballentine Partners LLC lifted its position in Altair Engineering by 8.5% during the 3rd quarter. Ballentine Partners LLC now owns 2,236 shares of the software’s stock worth $214,000 after buying an additional 175 shares in the last quarter. Finally, Moody Aldrich Partners LLC lifted its position in Altair Engineering by 15.2% during the 3rd quarter. Moody Aldrich Partners LLC now owns 75,233 shares of the software’s stock worth $7,186,000 after buying an additional 9,907 shares in the last quarter. 63.38% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ALTR has been the topic of a number of recent analyst reports. Needham & Company LLC reissued a “buy” rating and set a $100.00 price target on shares of Altair Engineering in a research report on Friday, August 2nd. JPMorgan Chase & Co. cut 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 report on Monday, July 15th. The Goldman Sachs Group cut shares of Altair Engineering from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $85.00 to $71.00 in a research report on Friday, August 2nd. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $90.00 price target on shares of Altair Engineering in a research report on Wednesday. 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 stock. Based on data from MarketBeat.com, Altair Engineering presently has an average rating of “Hold” and a consensus target price of $90.67.

About Altair Engineering

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.