Insider Selling: Altair Engineering Inc. (NASDAQ:ALTR) CRO Sells 1,671 Shares of Stock

Altair Engineering Inc. (NASDAQ:ALTR) CRO Nelson Dias sold 1,671 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $111.30, for a total value of $185,982.30. Following the sale, the executive now directly owns 55,411 shares of the company’s stock, valued at approximately $6,167,244.30. This represents a 2.93 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Nelson Dias also recently made the following trade(s):

• On Monday, March 3rd, Nelson Dias sold 491 shares of Altair Engineering stock. The shares were sold at an average price of $111.45, for a total value of $54,721.95.
• On Wednesday, February 26th, Nelson Dias sold 373 shares of Altair Engineering stock. The stock was sold at an average price of $111.53, for a total value of $41,600.69.

Altair Engineering Price Performance

Shares of NASDAQ ALTR traded up $0.10 during trading on Wednesday, hitting $111.54. 326,965 shares of the company were exchanged, compared to its average volume of 645,046. 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 $9.57 billion, a price-to-earnings ratio of 656.06, a PEG ratio of 10.75 and a beta of 1.45. The firm’s fifty day moving average price is $110.83 and its 200 day moving average price is $104.25.

Altair Engineering (NASDAQ:ALTR) last announced its quarterly earnings data 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 net margin of 2.13% and a return on equity of 8.08%. The company had revenue of $192.63 million during the quarter, compared to analyst estimates of $182.98 million. On average, research analysts forecast that Altair Engineering Inc. will post 0.87 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Needham & Company LLC restated a “hold” rating on shares of Altair Engineering in a research report on Friday, February 21st. Rosenblatt Securities reiterated a “neutral” rating and set a $113.00 price target on shares of Altair Engineering in a research note on Monday, February 24th. One research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $100.83.

Institutional Investors Weigh In On Altair Engineering

Institutional investors have recently modified their holdings of the company. NBT Bank N A NY increased its stake in Altair Engineering by 76.4% in the 4th quarter. NBT Bank N A NY now owns 247 shares of the software’s stock valued at $27,000 after purchasing an additional 107 shares in the last quarter. UMB Bank n.a. boosted its position in Altair Engineering by 77.0% during the fourth quarter. UMB Bank n.a. now owns 285 shares of the software’s stock worth $31,000 after purchasing an additional 124 shares in the last quarter. Johnson Financial Group Inc. acquired a new stake in Altair Engineering in the fourth quarter valued at $37,000. GAMMA Investing LLC grew its holdings in Altair Engineering by 14.6% in the fourth quarter. GAMMA Investing LLC now owns 729 shares of the software’s stock valued at $80,000 after purchasing an additional 93 shares during the last quarter. Finally, Blue Trust Inc. increased its position in shares of Altair Engineering by 185.5% in the fourth quarter. Blue Trust Inc. now owns 825 shares of the software’s stock valued at $90,000 after buying an additional 536 shares in the last quarter. Hedge funds and other institutional investors own 63.38% of the company’s stock.

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.