Altair Engineering Inc. (NASDAQ:ALTR) CEO James Ralph Scapa Sells 13,000 Shares of Stock

Altair Engineering Inc. (NASDAQ:ALTR) CEO James Ralph Scapa sold 13,000 shares of the firm’s stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $98.26, for a total value of $1,277,380.00. Following the completion of the sale, the chief executive officer now directly owns 134,045 shares of the company’s stock, valued at approximately $13,171,261.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

James Ralph Scapa also recently made the following trade(s):

• On Monday, June 10th, James Ralph Scapa sold 13,000 shares of Altair Engineering stock. The stock was sold at an average price of $93.16, for a total transaction of $1,211,080.00.
• On Wednesday, May 8th, James Ralph Scapa sold 5,560 shares of Altair Engineering stock. The shares were sold at an average price of $84.37, for a total transaction of $469,097.20.

Altair Engineering Price Performance

Shares of ALTR opened at $97.54 on Tuesday. The business’s 50-day moving average is $90.07 and its two-hundred day moving average is $86.15. The company has a market capitalization of $8.10 billion, a P/E ratio of 1,083.78, a P/E/G ratio of 12.34 and a beta of 1.48. Altair Engineering Inc. has a fifty-two week low of $57.59 and a fifty-two week high of $100.79. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.46 and a current ratio of 2.46.

Altair Engineering (NASDAQ:ALTR) last posted its earnings results on Thursday, May 2nd. The software reported $0.40 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $169.29 million. During the same period last year, the company earned $0.13 earnings per share. Altair Engineering’s revenue for the quarter was up 4.1% compared to the same quarter last year. Research analysts predict that Altair Engineering Inc. will post 0.66 earnings per share for the current year.

Hedge Funds Weigh In On Altair Engineering

Several large investors have recently made changes to their positions in ALTR. McGlone Suttner Wealth Management Inc. acquired a new stake in Altair Engineering during the fourth quarter valued at $31,000. EdgeRock Capital LLC acquired a new position in Altair Engineering in the 4th quarter worth about $33,000. Harvest Fund Management Co. Ltd grew its holdings in Altair Engineering by 1,157.7% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 981 shares of the software’s stock valued at $83,000 after purchasing an additional 903 shares during the period. Natixis Investment Managers International increased its position in shares of Altair Engineering by 68.7% in the fourth quarter. Natixis Investment Managers International now owns 1,940 shares of the software’s stock valued at $163,000 after buying an additional 790 shares in the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Altair Engineering during the 1st quarter worth approximately $177,000. 63.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ALTR. Royal Bank of Canada reissued a “sector perform” rating and set a $90.00 price objective on shares of Altair Engineering in a report on Thursday, March 21st. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price target on shares of Altair Engineering in a research note on Friday, May 3rd. JPMorgan Chase & Co. raised their price objective on Altair Engineering from $86.00 to $95.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 26th. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $88.00 target price on shares of Altair Engineering in a research report on Monday, April 29th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price 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.