Altair Engineering Inc. (NASDAQ:ALTR – Get Free Report) major shareholder George J. Christ sold 100,000 shares of the stock in a transaction on Thursday, June 27th. The stock was sold at an average price of $98.40, for a total transaction of $9,840,000.00. Following the sale, the insider now owns 200,000 shares of the company’s stock, valued at $19,680,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Altair Engineering Stock Up 0.2 %
Shares of NASDAQ ALTR opened at $98.08 on Friday. The firm has a market cap of $8.14 billion, a PE ratio of 1,089.78, a P/E/G ratio of 12.39 and a beta of 1.45. Altair Engineering Inc. has a 12-month low of $57.59 and a 12-month high of $100.79. The company’s fifty day simple moving average is $89.77 and its 200 day simple moving average is $85.82. The company has a quick ratio of 2.46, a current ratio of 2.46 and a debt-to-equity ratio of 0.30.
Altair Engineering (NASDAQ:ALTR – Get Free Report) last released its quarterly earnings data on Thursday, May 2nd. The software reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.06. Altair Engineering had a net margin of 1.55% and a return on equity of 5.60%. The firm had revenue of $172.91 million for the quarter, compared to analyst estimates of $169.29 million. During the same period last year, the firm earned $0.13 earnings per share. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Altair Engineering Inc. will post 0.66 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
Wall Street Analyst Weigh In
Several research firms have recently weighed in on ALTR. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price objective on shares of Altair Engineering in a research report on Friday, May 3rd. JPMorgan Chase & Co. increased their price objective on shares of Altair Engineering from $86.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 26th. Royal Bank of Canada reissued a “sector perform” rating and set a $90.00 target price on shares of Altair Engineering in a research note on Thursday, March 21st. Finally, Rosenblatt Securities reissued a “neutral” rating and set a $88.00 target price on shares of Altair Engineering in a research note on Monday, April 29th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $94.60.
Get Our Latest Report on Altair Engineering
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.
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