Altair Engineering Inc. (NASDAQ:ALTR – Get Free Report) major shareholder Christ Revocable Trust sold 3,904 shares of the company’s stock in a transaction on Tuesday, March 26th. The stock was sold at an average price of $85.42, for a total transaction of $333,479.68. Following the transaction, the insider now owns 283,336 shares of the company’s stock, valued at $24,202,561.12. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.
Altair Engineering Price Performance
Altair Engineering stock traded down $0.29 during mid-day trading on Thursday, hitting $85.98. The stock had a trading volume of 194,493 shares, compared to its average volume of 428,055. The firm has a market capitalization of $7.09 billion, a P/E ratio of -659.69, a P/E/G ratio of 11.89 and a beta of 1.43. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.32. The firm’s 50 day moving average is $85.79 and its 200 day moving average is $75.82. Altair Engineering Inc. has a one year low of $57.59 and a one year high of $92.92.
Altair Engineering (NASDAQ:ALTR – Get Free Report) last announced its quarterly earnings results on Thursday, February 22nd. The software reported $0.29 EPS for the quarter, topping the consensus estimate of $0.22 by $0.07. The business had revenue of $171.50 million for the quarter, compared to analysts’ expectations of $172.48 million. Altair Engineering had a negative net margin of 1.46% and a positive return on equity of 3.77%. On average, sell-side analysts forecast that Altair Engineering Inc. will post 0.6 earnings per share for the current fiscal year.
Institutional Trading of Altair Engineering
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on ALTR shares. Royal Bank of Canada reiterated a “sector perform” rating and set a $90.00 price target on shares of Altair Engineering in a report on Thursday, March 21st. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price objective on shares of Altair Engineering in a research note on Monday. Rosenblatt Securities reissued a “neutral” rating and set a $88.00 price objective (up from $74.00) on shares of Altair Engineering in a report on Friday, February 23rd. Oppenheimer increased their target price on Altair Engineering from $95.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Finally, JPMorgan Chase & Co. increased their price objective on Altair Engineering from $86.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $88.71.
Get Our Latest Stock Analysis on Altair Engineering
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.
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