Altair Engineering Inc. (NASDAQ:ALTR) CFO Matthew Charles Brown Sells 742 Shares

Altair Engineering Inc. (NASDAQ:ALTR) CFO Matthew Charles Brown sold 742 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $111.45, for a total value of $82,695.90. Following the sale, the chief financial officer now owns 68,652 shares in the company, valued at approximately $7,651,265.40. This trade represents a 1.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Wednesday, February 26th, Matthew Charles Brown sold 3,811 shares of Altair Engineering stock. The stock was sold at an average price of $111.53, for a total value of $425,040.83.
• On Monday, December 23rd, Matthew Charles Brown sold 1,048 shares of Altair Engineering stock. The stock was sold at an average price of $108.90, for a total value of $114,127.20.

Altair Engineering Price Performance

Altair Engineering stock opened at $111.24 on Friday. The stock’s 50 day moving average is $110.53 and its 200 day moving average is $102.84. The firm has a market cap of $9.54 billion, a P/E ratio of 654.35, a P/E/G ratio of 10.75 and a beta of 1.45. Altair Engineering Inc. has a one year low of $75.71 and a one year high of $113.12.

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

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Rosenblatt Securities restated a “neutral” rating and set a $113.00 price target on shares of Altair Engineering in a report on Monday, February 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of Altair Engineering in a research note on Friday, February 21st. One research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $100.83.

Hedge Funds Weigh In On Altair Engineering

A number of institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC boosted its holdings in shares of Altair Engineering by 14.6% during the 4th quarter. GAMMA Investing LLC now owns 729 shares of the software’s stock worth $80,000 after buying an additional 93 shares in the last quarter. New York State Teachers Retirement System boosted its holdings in shares of Altair Engineering by 1.2% during the 3rd quarter. New York State Teachers Retirement System now owns 8,500 shares of the software’s stock worth $812,000 after buying an additional 100 shares in the last quarter. Louisiana State Employees Retirement System boosted its holdings in shares of Altair Engineering by 0.6% during the 4th quarter. Louisiana State Employees Retirement System now owns 16,600 shares of the software’s stock worth $1,811,000 after buying an additional 100 shares in the last quarter. State of Michigan Retirement System boosted its holdings in shares of Altair Engineering by 0.7% during the 4th quarter. State of Michigan Retirement System now owns 14,200 shares of the software’s stock worth $1,549,000 after buying an additional 100 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its holdings in shares of Altair Engineering by 0.7% during the 4th quarter. Thrivent Financial for Lutherans now owns 14,065 shares of the software’s stock worth $1,535,000 after buying an additional 104 shares in the last quarter. 63.38% of the stock is currently owned by 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.