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

Altair Engineering Inc. (NASDAQ:ALTR) CEO James Ralph Scapa sold 13,000 shares of the firm’s stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $95.10, for a total transaction of $1,236,300.00. Following the transaction, the chief executive officer now directly owns 134,045 shares of the company’s stock, valued at $12,747,679.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• On Wednesday, August 28th, James Ralph Scapa sold 13,000 shares of Altair Engineering stock. The stock was sold at an average price of $89.04, for a total transaction of $1,157,520.00.
• On Monday, July 29th, James Ralph Scapa sold 13,000 shares of Altair Engineering stock. The stock was sold at an average price of $88.11, for a total transaction of $1,145,430.00.

Altair Engineering Stock Performance

Altair Engineering stock traded down $3.35 during mid-day trading on Tuesday, hitting $92.16. 74,625 shares of the company’s stock traded hands, compared to its average volume of 471,532. The firm has a 50 day simple moving average of $89.13 and a two-hundred day simple moving average of $89.13. Altair Engineering Inc. has a fifty-two week low of $57.59 and a fifty-two week high of $101.39. The stock has a market cap of $7.65 billion, a price-to-earnings ratio of 1,030.22, a P/E/G 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 announced its quarterly earnings results on Thursday, August 1st. The software reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.01. The business had revenue of $148.80 million during the quarter, compared to the consensus estimate of $146.88 million. Altair Engineering had a return on equity of 6.89% and a net margin of 4.26%. The company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same quarter last year, the firm posted ($0.15) EPS. On average, research analysts expect that Altair Engineering Inc. will post 0.65 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. ProShare Advisors LLC grew its position in Altair Engineering by 1.6% in the second quarter. ProShare Advisors LLC now owns 10,219 shares of the software’s stock valued at $1,002,000 after acquiring an additional 160 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of Altair Engineering by 81.7% during the second quarter. GAMMA Investing LLC now owns 418 shares of the software’s stock valued at $41,000 after purchasing an additional 188 shares in the last quarter. American International Group Inc. boosted its stake in shares of Altair Engineering by 0.7% during the fourth quarter. American International Group Inc. now owns 27,018 shares of the software’s stock valued at $2,274,000 after purchasing an additional 189 shares in the last quarter. FSC Wealth Advisors LLC boosted its stake in shares of Altair Engineering by 41.3% during the second quarter. FSC Wealth Advisors LLC now owns 832 shares of the software’s stock valued at $82,000 after purchasing an additional 243 shares in the last quarter. Finally, Cullen Frost Bankers Inc. boosted its stake in shares of Altair Engineering by 6.8% during the second quarter. Cullen Frost Bankers Inc. now owns 4,356 shares of the software’s stock valued at $427,000 after purchasing an additional 276 shares in the last quarter. Institutional investors own 63.38% of the company’s stock.

Analysts Set New Price Targets

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