Insider Selling: Altair Engineering Inc. (NASDAQ:ALTR) CFO Sells 3,811 Shares of Stock

Altair Engineering Inc. (NASDAQ:ALTR) CFO Matthew Charles Brown sold 3,811 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $111.53, for a total transaction of $425,040.83. Following the completion of the transaction, the chief financial officer now owns 69,394 shares in the company, valued at approximately $7,739,512.82. This trade represents a 5.21 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

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

• On Monday, December 23rd, Matthew Charles Brown sold 1,048 shares of Altair Engineering stock. The shares were sold at an average price of $108.90, for a total transaction of $114,127.20.

Altair Engineering Stock Up 0.1 %

NASDAQ:ALTR opened at $111.60 on Friday. The stock has a market cap of $9.50 billion, a P/E ratio of 656.47, a price-to-earnings-growth ratio of 10.75 and a beta of 1.42. The firm’s fifty day simple moving average is $110.34 and its 200 day simple moving average is $102.26. Altair Engineering Inc. has a twelve month low of $75.71 and a twelve month high of $113.12.

Altair Engineering (NASDAQ:ALTR) last released its quarterly earnings results on Thursday, February 20th. The software reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.15). The company had revenue of $192.63 million during the quarter, compared to the consensus estimate of $182.98 million. Altair Engineering had a net margin of 2.13% and a return on equity of 8.08%. On average, analysts expect that Altair Engineering Inc. will post 0.87 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ALTR. Wolfe Research cut shares of Altair Engineering from a “strong-buy” rating to a “hold” rating in a research report on Sunday, November 3rd. Needham & Company LLC restated a “hold” rating on shares of Altair Engineering in a report on Friday, February 21st. Finally, Rosenblatt Securities restated a “neutral” rating and issued a $113.00 target price on shares of Altair Engineering in a report on Monday, February 24th. One equities research analyst has rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $100.83.

Hedge Funds Weigh In On Altair Engineering

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fisher Asset Management LLC increased its holdings in Altair Engineering by 27.0% in the 3rd quarter. Fisher Asset Management LLC now owns 401,612 shares of the software’s stock worth $38,358,000 after buying an additional 85,303 shares in the last quarter. Citigroup Inc. grew its stake in shares of Altair Engineering by 141.0% during the 3rd quarter. Citigroup Inc. now owns 50,518 shares of the software’s stock valued at $4,825,000 after acquiring an additional 29,556 shares during the period. Principal Financial Group Inc. grew its stake in shares of Altair Engineering by 1.7% during the 4th quarter. Principal Financial Group Inc. now owns 168,665 shares of the software’s stock valued at $18,403,000 after acquiring an additional 2,872 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Altair Engineering during the 3rd quarter valued at approximately $1,356,000. Finally, Versor Investments LP bought a new position in shares of Altair Engineering during the 3rd quarter valued at approximately $487,000. Hedge funds and other institutional investors own 63.38% of the company’s stock.

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.