Altair Engineering Inc. (NASDAQ:ALTR - Get Free Report) CAO Brian Gayle sold 137 shares of the firm's stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $111.53, for a total transaction of $15,279.61. Following the sale, the chief accounting officer now directly owns 18,374 shares in the company, valued at approximately $2,049,252.22. The trade was a 0.74 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website.
Altair Engineering Stock Down 0.2 %
NASDAQ:ALTR traded down $0.17 during trading hours on Monday, reaching $111.43. 1,125,589 shares of the company's stock were exchanged, compared to its average volume of 779,175. Altair Engineering Inc. has a 1-year low of $75.71 and a 1-year high of $113.12. The firm has a market capitalization of $9.48 billion, a price-to-earnings ratio of 655.47, a P/E/G ratio of 10.75 and a beta of 1.42. The company has a 50-day moving average of $110.39 and a 200 day moving average of $102.59.
Altair Engineering (NASDAQ:ALTR - Get Free Report) last announced its earnings results on Thursday, February 20th. The software reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.15). Altair Engineering had a return on equity of 8.08% and a net margin of 2.13%. The business had revenue of $192.63 million for the quarter, compared to analyst estimates of $182.98 million. Research analysts forecast that Altair Engineering Inc. will post 0.87 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of research analysts recently commented on ALTR shares. Wolfe Research downgraded shares of Altair Engineering from a "strong-buy" rating to a "hold" rating in a research report on Sunday, November 3rd. Needham & Company LLC reaffirmed a "hold" rating on shares of Altair Engineering in a report on Friday, February 21st. Finally, Rosenblatt Securities reissued a "neutral" rating and issued a $113.00 target price on shares of Altair Engineering in a report on Monday, February 24th. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $100.83.
Read Our Latest Analysis on Altair Engineering
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently modified their holdings of the stock. NBT Bank N A NY raised its stake in shares of Altair Engineering by 76.4% during the fourth quarter. NBT Bank N A NY now owns 247 shares of the software's stock worth $27,000 after purchasing an additional 107 shares during the last quarter. Blue Trust Inc. increased its stake in Altair Engineering by 572.1% in the 3rd quarter. Blue Trust Inc. now owns 289 shares of the software's stock valued at $28,000 after buying an additional 246 shares during the period. UMB Bank n.a. raised its position in Altair Engineering by 77.0% during the 4th quarter. UMB Bank n.a. now owns 285 shares of the software's stock worth $31,000 after buying an additional 124 shares during the last quarter. Johnson Financial Group Inc. acquired a new stake in shares of Altair Engineering in the 4th quarter worth $37,000. Finally, GAMMA Investing LLC boosted its holdings in shares of 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 acquiring an additional 93 shares in the last quarter. 63.38% of the stock is currently owned by hedge funds and other institutional investors.
Altair Engineering Company Profile
(
Get Free Report)
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.
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