Altair Engineering Inc. (NASDAQ:ALTR) CAO Brian Gayle Sells 184 Shares

Altair Engineering Inc. (NASDAQ:ALTR - Get Free Report) CAO Brian Gayle sold 184 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $111.45, for a total transaction of $20,506.80. Following the completion of the sale, the chief accounting officer now directly owns 18,190 shares of the company's stock, valued at $2,027,275.50. The trade was a 1.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Brian Gayle also recently made the following trade(s):

• On Wednesday, February 26th, Brian Gayle sold 137 shares of Altair Engineering stock. The stock was sold at an average price of $111.53, for a total value of $15,279.61.

Altair Engineering Stock Performance

Shares of ALTR stock traded up $0.13 on Friday, reaching $111.24. 658,832 shares of the company's stock traded hands, compared to its average volume of 794,160. The company has a market capitalization of $9.54 billion, a P/E ratio of 654.35, a price-to-earnings-growth ratio of 10.75 and a beta of 1.45. Altair Engineering Inc. has a 12-month low of $75.71 and a 12-month high of $113.12. The business's 50 day moving average price is $110.57 and its two-hundred day moving average price is $103.19.

Altair Engineering (NASDAQ:ALTR - Get Free Report) last released 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). The business had revenue of $192.63 million for the quarter, compared to analysts' expectations of $182.98 million. Altair Engineering had a net margin of 2.13% and a return on equity of 8.08%. Research analysts predict that Altair Engineering Inc. will post 0.87 earnings per share for the current year.

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Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Rosenblatt Securities reissued a "neutral" rating and issued a $113.00 price target on shares of Altair Engineering in a research note on Monday, February 24th. Needham & Company LLC reiterated a "hold" rating on shares of Altair Engineering in a report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $100.83.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ALTR. Vanguard Group Inc. raised its stake in shares of Altair Engineering by 4.8% during the 4th quarter. Vanguard Group Inc. now owns 6,894,230 shares of the software's stock worth $752,229,000 after purchasing an additional 317,575 shares in the last quarter. State Street Corp increased its holdings in Altair Engineering by 3.3% in the third quarter. State Street Corp now owns 2,053,957 shares of the software's stock worth $196,173,000 after buying an additional 65,589 shares during the last quarter. Geode Capital Management LLC increased its holdings in Altair Engineering by 3.9% in the third quarter. Geode Capital Management LLC now owns 1,423,880 shares of the software's stock worth $136,020,000 after buying an additional 53,088 shares during the last quarter. Northern Trust Corp raised its position in Altair Engineering by 9.2% during the fourth quarter. Northern Trust Corp now owns 751,191 shares of the software's stock valued at $81,962,000 after acquiring an additional 63,368 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in Altair Engineering by 2.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 591,573 shares of the software's stock valued at $64,547,000 after acquiring an additional 12,585 shares during the last quarter. Hedge funds and other institutional investors own 63.38% of the company's stock.

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.