Altair Engineering Inc. (NASDAQ:ALTR) CAO Brian Gayle Sells 182 Shares

Altair Engineering Inc. (NASDAQ:ALTR - Get Free Report) CAO Brian Gayle sold 182 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $111.30, for a total value of $20,256.60. Following the completion of the transaction, the chief accounting officer now owns 18,008 shares of the company's stock, valued at approximately $2,004,290.40. This trade represents a 1.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

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

• On Monday, March 3rd, Brian Gayle sold 184 shares of Altair Engineering stock. The shares were sold at an average price of $111.45, for a total transaction of $20,506.80.
• 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 Trading Up 0.2 %

Shares of ALTR traded up $0.21 during mid-day trading on Friday, hitting $111.75. The company's stock had a trading volume of 1,906,931 shares, compared to its average volume of 655,166. The firm has a market capitalization of $9.59 billion, a price-to-earnings ratio of 657.35, a PEG ratio of 10.75 and a beta of 1.45. Altair Engineering Inc. has a 52-week low of $75.71 and a 52-week high of $113.12. The company's 50-day moving average is $110.91 and its 200-day moving average is $104.62.

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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 EPS for the quarter, missing analysts' consensus estimates of $0.51 by ($0.15). Altair Engineering had a return on equity of 8.08% and a net margin of 2.13%. The firm had revenue of $192.63 million during the quarter, compared to the consensus estimate of $182.98 million. As a group, sell-side analysts predict that Altair Engineering Inc. will post 0.87 earnings per share for the current fiscal year.

Institutional Trading of Altair Engineering

Large investors have recently added to or reduced their stakes in the company. Magnetar Financial LLC purchased a new stake in Altair Engineering in the fourth quarter valued at $62,142,000. Norges Bank purchased a new position in Altair Engineering in the fourth quarter valued at $37,899,000. Schonfeld Strategic Advisors LLC boosted its position in Altair Engineering by 13,097.8% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 331,528 shares of the software's stock worth $36,173,000 after purchasing an additional 329,016 shares in the last quarter. Vanguard Group Inc. grew its holdings in Altair Engineering by 4.8% in the fourth quarter. Vanguard Group Inc. now owns 6,894,230 shares of the software's stock valued at $752,229,000 after purchasing an additional 317,575 shares during the period. Finally, Woodline Partners LP purchased a new stake in Altair Engineering in the 4th quarter worth $32,733,000. Hedge funds and other institutional investors own 63.38% of the company's stock.

Analyst Ratings Changes

Several research firms recently weighed in on ALTR. Rosenblatt Securities reaffirmed 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 restated a "hold" rating on shares of Altair Engineering in a research report on Friday, February 21st. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $100.83.

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.