Insider Selling: Altair Engineering Inc. (NASDAQ:ALTR) CFO Sells 742 Shares of Stock

Altair Engineering Inc. (NASDAQ:ALTR - Get Free Report) CFO Matthew Charles Brown sold 742 shares of the business's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $111.45, for a total value of $82,695.90. Following the transaction, the chief financial officer now directly owns 68,652 shares of the company's stock, valued at $7,651,265.40. The trade was a 1.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Matthew Charles Brown also recently made the following trade(s):

• On Wednesday, February 26th, Matthew Charles Brown sold 3,811 shares of Altair Engineering stock. The stock was sold at an average price of $111.53, for a total value of $425,040.83.
• On Monday, December 23rd, Matthew Charles Brown sold 1,048 shares of Altair Engineering stock. The stock was sold at an average price of $108.90, for a total value of $114,127.20.

Altair Engineering Trading Up 0.1 %

Shares of NASDAQ ALTR traded up $0.13 during trading hours on Friday, reaching $111.24. The stock had a trading volume of 658,832 shares, compared to its average volume of 794,160. The firm has a market cap of $9.54 billion, a price-to-earnings ratio of 654.35, a PEG ratio of 10.75 and a beta of 1.45. Altair Engineering Inc. has a fifty-two week low of $75.71 and a fifty-two week high of $113.12. The firm has a 50-day moving average of $110.57 and a 200-day moving average of $103.19.

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Altair Engineering (NASDAQ:ALTR - Get Free Report) last announced its earnings results on Thursday, February 20th. The software reported $0.36 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.51 by ($0.15). The firm had revenue of $192.63 million during the quarter, compared to analyst estimates of $182.98 million. Altair Engineering had a net margin of 2.13% and a return on equity of 8.08%. On average, equities analysts predict that Altair Engineering Inc. will post 0.87 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently commented on ALTR. Rosenblatt Securities reissued a "neutral" rating and set a $113.00 target price on shares of Altair Engineering in a research note on Monday, February 24th. Needham & Company LLC reaffirmed a "hold" rating on shares of Altair Engineering in a research report on Friday, February 21st. One investment 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, the company has a consensus rating of "Hold" and a consensus target price of $100.83.

Institutional Trading of Altair Engineering

A number of large investors have recently made changes to their positions in the company. Polar Asset Management Partners Inc. acquired a new stake in shares of Altair Engineering in the 4th quarter valued at about $5,456,000. GTS Securities LLC purchased a new stake in Altair Engineering during the 4th quarter valued at approximately $201,000. BCK Capital Management LP purchased a new stake in Altair Engineering during the 4th quarter valued at approximately $1,506,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Altair Engineering by 201.0% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 381,061 shares of the software's stock valued at $41,578,000 after acquiring an additional 254,448 shares during the last quarter. Finally, Voloridge Investment Management LLC purchased a new stake in Altair Engineering during the 4th quarter valued at approximately $4,580,000. 63.38% of the stock is owned by institutional investors and hedge funds.

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.