James Ralph Scapa Sells 13,000 Shares of Altair Engineering Inc. (NASDAQ:ALTR) Stock

Altair Engineering Inc. (NASDAQ:ALTR) CEO James Ralph Scapa sold 13,000 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $98.26, for a total transaction of $1,277,380.00. Following the completion of the transaction, the chief executive officer now directly owns 134,045 shares of the company’s stock, valued at $13,171,261.70. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

James Ralph Scapa also recently made the following trade(s):

• On Monday, June 10th, James Ralph Scapa sold 13,000 shares of Altair Engineering stock. The stock was sold at an average price of $93.16, for a total value of $1,211,080.00.
• On Wednesday, May 8th, James Ralph Scapa sold 5,560 shares of Altair Engineering stock. The shares were sold at an average price of $84.37, for a total value of $469,097.20.

Altair Engineering Trading Up 0.9 %

Shares of ALTR opened at $98.41 on Wednesday. Altair Engineering Inc. has a 1-year low of $57.59 and a 1-year high of $100.79. The company has a market capitalization of $8.17 billion, a P/E ratio of 1,093.44, a P/E/G ratio of 12.34 and a beta of 1.48. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.46 and a quick ratio of 2.46. The firm’s 50 day simple moving average is $90.36 and its 200 day simple moving average is $86.32.

Altair Engineering (NASDAQ:ALTR) last posted its quarterly earnings data on Thursday, May 2nd. The software reported $0.40 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $169.29 million. During the same quarter last year, the company posted $0.13 EPS. The business’s quarterly revenue was up 4.1% on a year-over-year basis. Sell-side analysts forecast that Altair Engineering Inc. will post 0.66 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $90.00 target price on shares of Altair Engineering in a report on Thursday, March 21st. JPMorgan Chase & Co. upped their target price on shares of Altair Engineering from $86.00 to $95.00 and gave the stock an “overweight” rating in a report on Tuesday, March 26th. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price target on shares of Altair Engineering in a report on Friday, May 3rd. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and issued a $88.00 price target on shares of Altair Engineering in a report on Monday, April 29th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $94.60.

Hedge Funds Weigh In On Altair Engineering

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Matrix Capital Management Company LP lifted its position in Altair Engineering by 8.3% in the 4th quarter. Matrix Capital Management Company LP now owns 12,233,174 shares of the software’s stock worth $1,029,422,000 after buying an additional 932,717 shares during the last quarter. Bain Capital Public Equity Management II LLC bought a new stake in shares of Altair Engineering in the 4th quarter worth approximately $57,728,000. Wellington Management Group LLP purchased a new stake in shares of Altair Engineering in the 3rd quarter valued at $37,487,000. Jane Street Group LLC grew its holdings in shares of Altair Engineering by 960.2% during the 1st quarter. Jane Street Group LLC now owns 303,672 shares of the software’s stock valued at $26,161,000 after purchasing an additional 275,030 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Altair Engineering by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 5,944,285 shares of the software’s stock worth $512,100,000 after purchasing an additional 182,840 shares during the period. 63.38% of the stock is currently owned by hedge funds and other institutional investors.

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.