Altair Engineering Inc. (NASDAQ:ALTR) Major Shareholder George J. Christ Sells 97,824 Shares of Stock

Altair Engineering Inc. (NASDAQ:ALTR) major shareholder George J. Christ sold 97,824 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $95.23, for a total value of $9,315,779.52. Following the completion of the transaction, the insider now owns 302,176 shares of the company’s stock, valued at approximately $28,776,220.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 Price Performance

Shares of Altair Engineering stock opened at $94.22 on Wednesday. The stock has a 50 day moving average of $90.93 and a 200 day moving average of $89.96. Altair Engineering Inc. has a 12 month low of $57.59 and a 12 month high of $101.39. The firm has a market cap of $7.82 billion, a PE ratio of 1,046.89, a PEG ratio of 12.15 and a beta of 1.45. The company has a current ratio of 3.14, a quick ratio of 3.14 and a debt-to-equity ratio of 0.29.

Altair Engineering (NASDAQ:ALTR) last issued its quarterly earnings data 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. Altair Engineering had a return on equity of 6.89% and a net margin of 4.26%. The business had revenue of $148.80 million for the quarter, compared to the consensus estimate of $146.88 million. During the same period in the prior year, the business posted ($0.15) earnings per share. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. On average, research analysts expect that Altair Engineering Inc. will post 0.65 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ALTR. The Goldman Sachs Group lowered Altair Engineering from a “neutral” rating to a “sell” rating and reduced their price objective for the company from $85.00 to $71.00 in a research report on Friday, August 2nd. Needham & Company LLC reissued a “buy” rating and issued a $100.00 target price on shares of Altair Engineering in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. lowered Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 target price for the company. in a report on Monday, July 15th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Altair Engineering currently has a consensus rating of “Hold” and a consensus target price of $90.67.

Institutional Investors Weigh In On Altair Engineering

Hedge funds and other institutional investors have recently modified their holdings of the business. Wellington Management Group LLP boosted its position in Altair Engineering by 97.3% during 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 in the last quarter. Russell Investments Group Ltd. lifted its position in Altair Engineering by 5,564.8% during the 1st quarter. Russell Investments Group Ltd. now owns 31,043 shares of the software’s stock worth $2,676,000 after acquiring an additional 30,495 shares during the period. Linden Thomas Advisory Services LLC purchased a new position in shares of Altair Engineering during the 2nd quarter valued at about $629,000. Jane Street Group LLC raised its stake in shares of Altair Engineering by 960.2% during the 1st quarter. Jane Street Group LLC now owns 303,672 shares of the software’s stock valued at $26,161,000 after buying an additional 275,030 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake 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 buying an additional 182,840 shares during the last quarter. 63.38% of the stock is currently owned by hedge funds and other 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.