Altair Engineering Inc. (NASDAQ:ALTR) CFO Sells $425,040.83 in Stock

Altair Engineering Inc. (NASDAQ:ALTR) CFO Matthew Charles Brown sold 3,811 shares of the firm’s stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $111.53, for a total value of $425,040.83. Following the completion of the transaction, the chief financial officer now owns 69,394 shares in the company, valued at $7,739,512.82. This represents a 5.21 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Matthew Charles Brown also recently made the following trade(s):

• On Monday, December 23rd, Matthew Charles Brown sold 1,048 shares of Altair Engineering stock. The stock was sold at an average price of $108.90, for a total transaction of $114,127.20.

Altair Engineering Stock Performance

Shares of NASDAQ:ALTR traded up $0.05 during midday trading on Thursday, reaching $111.65. 274,449 shares of the company’s stock traded hands, compared to its average volume of 767,923. Altair Engineering Inc. has a 1 year low of $75.71 and a 1 year high of $113.12. The company has a market cap of $9.50 billion, a P/E ratio of 656.82, a PEG ratio of 10.75 and a beta of 1.42. The company has a fifty day simple moving average of $110.21 and a two-hundred day simple moving average of $102.03.

Altair Engineering (NASDAQ:ALTR) last released its quarterly earnings results on Thursday, February 20th. The software reported $0.36 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.15). Altair Engineering had a return on equity of 8.08% and a net margin of 2.13%. The firm had revenue of $192.63 million for the quarter, compared to analysts’ expectations of $182.98 million. As a group, research analysts forecast that Altair Engineering Inc. will post 0.87 EPS for the current fiscal year.

Hedge Funds Weigh In On Altair Engineering

Several large investors have recently bought and sold shares of ALTR. GAMMA Investing LLC lifted its stake in shares of Altair Engineering by 14.6% in the 4th quarter. GAMMA Investing LLC now owns 729 shares of the software’s stock worth $80,000 after acquiring an additional 93 shares during the period. New York State Teachers Retirement System lifted its holdings in Altair Engineering by 1.2% in the 3rd quarter. New York State Teachers Retirement System now owns 8,500 shares of the software’s stock valued at $812,000 after purchasing an additional 100 shares in the last quarter. Louisiana State Employees Retirement System grew its position in shares of Altair Engineering by 0.6% in the fourth quarter. Louisiana State Employees Retirement System now owns 16,600 shares of the software’s stock valued at $1,811,000 after purchasing an additional 100 shares during the period. State of Michigan Retirement System grew its stake in shares of Altair Engineering by 0.7% during the 4th quarter. State of Michigan Retirement System now owns 14,200 shares of the software’s stock valued at $1,549,000 after buying an additional 100 shares during the period. Finally, Thrivent Financial for Lutherans increased its position in Altair Engineering by 0.7% during the 4th quarter. Thrivent Financial for Lutherans now owns 14,065 shares of the software’s stock worth $1,535,000 after purchasing an additional 104 shares in the last quarter. Institutional investors and hedge funds own 63.38% of the company’s stock.

Analyst Upgrades and Downgrades

ALTR has been the topic of several recent analyst reports. Needham & Company LLC reiterated a “hold” rating on shares of Altair Engineering in a research note on Friday, February 21st. Loop Capital reissued a “hold” rating and issued a $113.00 target price on shares of Altair Engineering in a research note on Thursday, October 31st. Wolfe Research downgraded shares of Altair Engineering from a “strong-buy” rating to a “hold” rating in a research note on Sunday, November 3rd. Rosenblatt Securities reissued a “neutral” rating and set a $113.00 price objective on shares of Altair Engineering in a research report on Monday. Finally, William Blair restated a “market perform” rating on shares of Altair Engineering in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $100.83.

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.