Altair Engineering Inc. (NASDAQ:ALTR) CEO James Ralph Scapa Sells 5,560 Shares

Altair Engineering Inc. (NASDAQ:ALTR) CEO James Ralph Scapa sold 5,560 shares of the stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $84.37, for a total transaction of $469,097.20. Following the sale, the chief executive officer now owns 134,045 shares of the company’s stock, valued at approximately $11,309,376.65. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

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

• On Monday, March 18th, James Ralph Scapa sold 10,000 shares of Altair Engineering stock. The stock was sold at an average price of $80.74, for a total value of $807,400.00.
• On Wednesday, March 13th, James Ralph Scapa sold 1,686 shares of Altair Engineering stock. The stock was sold at an average price of $81.66, for a total value of $137,678.76.
• On Monday, March 4th, James Ralph Scapa sold 3,300 shares of Altair Engineering stock. The stock was sold at an average price of $85.32, for a total transaction of $281,556.00.
• On Friday, February 16th, James Ralph Scapa sold 10,000 shares of Altair Engineering stock. The stock was sold at an average price of $91.07, for a total transaction of $910,700.00.

Altair Engineering Stock Up 0.1 %

Shares of NASDAQ:ALTR traded up $0.11 during trading on Friday, hitting $85.79. 33,499 shares of the company’s stock traded hands, compared to its average volume of 410,856. The company has a current ratio of 2.46, a quick ratio of 2.46 and a debt-to-equity ratio of 0.30. The company has a 50-day moving average price of $83.22 and a 200-day moving average price of $79.88. Altair Engineering Inc. has a 52 week low of $57.59 and a 52 week high of $92.92. The company has a market cap of $7.08 billion, a price-to-earnings ratio of 952.00, a price-to-earnings-growth ratio of 10.86 and a beta of 1.42.

Altair Engineering (NASDAQ:ALTR) last released its earnings results on Thursday, May 2nd. The software reported $0.40 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.06. Altair Engineering had a return on equity of 5.60% and a net margin of 1.55%. The firm had revenue of $172.91 million during the quarter, compared to analysts’ expectations of $169.29 million. During the same quarter in the prior year, the company earned $0.13 EPS. The company’s revenue was up 4.1% on a year-over-year basis. As a group, research analysts forecast that Altair Engineering Inc. will post 0.63 EPS for the current fiscal year.

Analysts Set New Price Targets

ALTR has been the topic of a number of recent research reports. Oppenheimer increased their price objective on Altair Engineering from $95.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, February 23rd. Royal Bank of Canada reissued a “sector perform” rating and set a $90.00 price objective on shares of Altair Engineering in a report on Thursday, March 21st. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price target on shares of Altair Engineering in a research report on Friday, May 3rd. Rosenblatt Securities restated a “neutral” rating and issued a $88.00 price objective on shares of Altair Engineering in a report on Monday, April 29th. Finally, JPMorgan Chase & Co. lifted their price objective on Altair Engineering from $86.00 to $95.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 26th. Two investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Altair Engineering presently has an average rating of “Moderate Buy” and an average price target of $94.60.

Institutional Investors Weigh In On Altair Engineering

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Altair Engineering during the 4th quarter worth about $31,000. EdgeRock Capital LLC bought a new position in Altair Engineering in the fourth quarter valued at approximately $33,000. Harvest Fund Management Co. Ltd increased its position in shares of Altair Engineering by 1,157.7% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 981 shares of the software’s stock worth $83,000 after purchasing an additional 903 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in shares of Altair Engineering by 10.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,991 shares of the software’s stock worth $125,000 after purchasing an additional 190 shares in the last quarter. Finally, SG Americas Securities LLC boosted its holdings in shares of Altair Engineering by 31.3% in the 3rd quarter. SG Americas Securities LLC now owns 2,171 shares of the software’s stock valued at $136,000 after buying an additional 518 shares during the last quarter. 63.38% of the stock is currently owned by institutional investors and hedge funds.

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.