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 company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $89.04, for a total value of $1,157,520.00. Following the sale, the chief executive officer now owns 134,045 shares of the company’s stock, valued at approximately $11,935,366.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, July 29th, James Ralph Scapa sold 13,000 shares of Altair Engineering stock. The shares were sold at an average price of $88.11, for a total value of $1,145,430.00.
• On Friday, June 28th, James Ralph Scapa sold 13,000 shares of Altair Engineering stock. The shares were sold at an average price of $98.26, for a total transaction of $1,277,380.00.
• On Monday, June 10th, James Ralph Scapa sold 13,000 shares of Altair Engineering stock. The shares were sold at an average price of $93.16, for a total transaction of $1,211,080.00.

Altair Engineering Stock Up 1.0 %

ALTR opened at $90.36 on Friday. The stock has a market cap of $7.50 billion, a price-to-earnings ratio of 1,004.00, a price-to-earnings-growth ratio of 10.73 and a beta of 1.48. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.46 and a current ratio of 2.46. The firm’s fifty day moving average is $91.82 and its 200 day moving average is $88.37. Altair Engineering Inc. has a fifty-two week low of $57.59 and a fifty-two week high of $101.39.

Altair Engineering (NASDAQ:ALTR) last announced its quarterly earnings data on Thursday, August 1st. The software reported $0.16 EPS for the quarter, beating the consensus estimate of $0.15 by $0.01. Altair Engineering had a return on equity of 7.11% and a net margin of 4.26%. The business had revenue of $148.80 million for the quarter, compared to the consensus estimate of $146.88 million. During the same period in the previous year, the business earned ($0.15) earnings per share. The business’s revenue was up 5.4% on a year-over-year basis. On average, sell-side analysts forecast that Altair Engineering Inc. will post 0.66 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group cut shares of Altair Engineering from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $85.00 to $71.00 in a research note on Friday, August 2nd. Needham & Company LLC reiterated a “buy” rating and set a $100.00 target price on shares of Altair Engineering in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. cut Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 price target for the company. in a research report on Monday, July 15th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $90.67.

Institutional Investors Weigh In On Altair Engineering

A number of institutional investors have recently added to or reduced their stakes in the stock. EdgeRock Capital LLC purchased a new position in shares of Altair Engineering during the fourth quarter valued at about $33,000. GAMMA Investing LLC boosted its position in shares of Altair Engineering by 81.7% during the 2nd quarter. GAMMA Investing LLC now owns 418 shares of the software’s stock valued at $41,000 after acquiring an additional 188 shares during the last quarter. FSC Wealth Advisors LLC boosted its position in shares of Altair Engineering by 41.3% during the 2nd quarter. FSC Wealth Advisors LLC now owns 832 shares of the software’s stock valued at $82,000 after acquiring an additional 243 shares during the last quarter. Van ECK Associates Corp grew its holdings in shares of Altair Engineering by 41.7% in the second quarter. Van ECK Associates Corp now owns 1,057 shares of the software’s stock valued at $104,000 after purchasing an additional 311 shares in the last quarter. Finally, Natixis Investment Managers International increased its position in Altair Engineering by 68.7% in the fourth quarter. Natixis Investment Managers International now owns 1,940 shares of the software’s stock worth $163,000 after purchasing an additional 790 shares during the last quarter. 63.38% of the stock is 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.