Christ Revocable Trust Sells 50,048 Shares of Altair Engineering Inc. (NASDAQ:ALTR) Stock

Altair Engineering Inc. (NASDAQ:ALTR) major shareholder Christ Revocable Trust sold 50,048 shares of the stock in a transaction dated Friday, September 27th. The stock was sold at an average price of $95.07, for a total transaction of $4,758,063.36. Following the transaction, the insider now directly owns 149,952 shares of the company’s stock, valued at approximately $14,255,936.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

Altair Engineering Stock Performance

ALTR traded up $0.14 during trading hours on Monday, hitting $95.01. 168,559 shares of the stock were exchanged, compared to its average volume of 472,073. The stock has a 50-day simple moving average of $89.05 and a 200-day simple moving average of $89.04. Altair Engineering Inc. has a 12 month low of $57.59 and a 12 month high of $101.39. The stock has a market cap of $7.89 billion, a price-to-earnings ratio of 1,055.11, a price-to-earnings-growth ratio of 12.01 and a beta of 1.45. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.14 and a quick ratio of 3.14.

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

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ALTR. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price objective on shares of Altair Engineering in a research note on Friday, August 2nd. JPMorgan Chase & Co. lowered shares of Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 target price on the stock. in a research report on Monday, July 15th. Finally, The Goldman Sachs Group cut shares of Altair Engineering from a “neutral” rating to a “sell” rating and lowered their price objective for the company from $85.00 to $71.00 in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $90.67.

Institutional Investors Weigh In On Altair Engineering

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Matrix Capital Management Company LP raised its holdings in Altair Engineering by 1.6% during the first quarter. Matrix Capital Management Company LP now owns 12,430,000 shares of the software’s stock valued at $1,070,844,000 after buying an additional 196,826 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Altair Engineering by 3.2% during the 1st quarter. Vanguard Group Inc. now owns 5,944,285 shares of the software’s stock valued at $512,100,000 after acquiring an additional 182,840 shares during the last quarter. Conestoga Capital Advisors LLC increased its holdings in Altair Engineering by 2.0% in the second quarter. Conestoga Capital Advisors LLC now owns 2,488,566 shares of the software’s stock valued at $244,079,000 after purchasing an additional 48,485 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Altair Engineering by 97.3% in the 4th quarter. Wellington Management Group LLP now owns 1,182,339 shares of the software’s stock valued at $99,494,000 after acquiring an additional 583,127 shares during the period. Finally, William Blair Investment Management LLC acquired a new position in shares of Altair Engineering in the 2nd quarter valued at $91,589,000. 63.38% of the stock is currently owned by institutional investors.

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.