Insider Selling: Altair Engineering Inc. (NASDAQ:ALTR) CRO Sells 491 Shares of Stock

Altair Engineering Inc. (NASDAQ:ALTR) CRO Nelson Dias sold 491 shares of the business’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $111.45, for a total transaction of $54,721.95. Following the transaction, the executive now directly owns 57,082 shares of the company’s stock, valued at approximately $6,361,788.90. This trade represents a 0.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Nelson Dias also recently made the following trade(s):

• On Wednesday, February 26th, Nelson Dias sold 373 shares of Altair Engineering stock. The shares were sold at an average price of $111.53, for a total transaction of $41,600.69.
• On Tuesday, December 10th, Nelson Dias sold 22,500 shares of Altair Engineering stock. The shares were sold at an average price of $106.23, for a total transaction of $2,390,175.00.

Altair Engineering Price Performance

Shares of NASDAQ:ALTR opened at $111.24 on Friday. The stock has a market cap of $9.54 billion, a price-to-earnings ratio of 654.35, a PEG ratio of 10.75 and a beta of 1.45. Altair Engineering Inc. has a 12 month low of $75.71 and a 12 month high of $113.12. The stock’s 50 day moving average price is $110.53 and its 200 day moving average price is $102.84.

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

Institutional Investors Weigh In On Altair Engineering

A number of institutional investors and hedge funds have recently bought and sold shares of ALTR. Fisher Asset Management LLC grew its stake in shares of 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 purchasing an additional 85,303 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Altair Engineering by 1.7% during the fourth quarter. Principal Financial Group Inc. now owns 168,665 shares of the software’s stock worth $18,403,000 after buying an additional 2,872 shares in the last quarter. Citigroup Inc. grew its position in Altair Engineering by 141.0% in the third quarter. Citigroup Inc. now owns 50,518 shares of the software’s stock worth $4,825,000 after buying an additional 29,556 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of Altair Engineering in the third quarter valued at $1,356,000. Finally, Versor Investments LP acquired a new stake in shares of Altair Engineering during the 3rd quarter valued at $487,000. 63.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Rosenblatt Securities reiterated a “neutral” rating and set a $113.00 price objective on shares of Altair Engineering in a research report on Monday, February 24th. Needham & Company LLC reiterated a “hold” rating on shares of Altair Engineering in a research report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to MarketBeat, Altair Engineering has a consensus rating of “Hold” and an average price target of $100.83.

Altair Engineering Company Profile

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.