Altair Engineering Inc. (NASDAQ:ALTR) CAO Sells $14,597.74 in Stock

Altair Engineering Inc. (NASDAQ:ALTR) CAO Brian Gayle sold 173 shares of the company’s stock in a transaction dated Wednesday, May 8th. The stock was sold at an average price of $84.38, for a total value of $14,597.74. Following the sale, the chief accounting officer now owns 19,196 shares of the company’s stock, valued at $1,619,758.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Brian Gayle also recently made the following trade(s):

• On Monday, March 4th, Brian Gayle sold 193 shares of Altair Engineering stock. The stock was sold at an average price of $85.32, for a total value of $16,466.76.
• On Wednesday, February 28th, Brian Gayle sold 138 shares of Altair Engineering stock. The shares were sold at an average price of $83.65, for a total transaction of $11,543.70.

Altair Engineering Stock Performance

Shares of NASDAQ:ALTR traded up $0.11 on Friday, reaching $85.79. 33,499 shares of the company’s stock were exchanged, compared to its average volume of 410,856. The company has a fifty day moving average of $83.22 and a 200-day moving average of $79.88. The company has a market capitalization of $7.08 billion, a price-to-earnings ratio of 952.00, a PEG ratio of 10.86 and a beta of 1.42. The company has a current ratio of 2.46, a quick ratio of 2.46 and a debt-to-equity ratio of 0.30. Altair Engineering Inc. has a twelve month low of $57.59 and a twelve month high of $92.92.

Altair Engineering (NASDAQ:ALTR) last announced its earnings results on Thursday, May 2nd. The software reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.06. Altair Engineering had a return on equity of 5.60% and a net margin of 1.55%. The business had revenue of $172.91 million during the quarter, compared to analyst estimates of $169.29 million. During the same period last year, the company earned $0.13 EPS. Altair Engineering’s revenue for the quarter was up 4.1% compared to the same quarter last year. On average, research analysts predict that Altair Engineering Inc. will post 0.63 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Altair Engineering

Hedge funds have recently added to or reduced their stakes in the stock. ProShare Advisors LLC raised its holdings in Altair Engineering by 9.2% during the 1st quarter. ProShare Advisors LLC now owns 10,059 shares of the software’s stock valued at $867,000 after acquiring an additional 844 shares during the period. Russell Investments Group Ltd. lifted its stake in Altair Engineering by 5,564.8% in the first quarter. Russell Investments Group Ltd. now owns 31,043 shares of the software’s stock worth $2,676,000 after purchasing an additional 30,495 shares during the last quarter. QRG Capital Management Inc. grew its position in Altair Engineering by 9.5% during the 1st quarter. QRG Capital Management Inc. now owns 20,532 shares of the software’s stock worth $1,769,000 after acquiring an additional 1,781 shares during the last quarter. Sei Investments Co. grew its holdings in Altair Engineering by 40.6% in the 1st quarter. Sei Investments Co. now owns 30,813 shares of the software’s stock worth $2,655,000 after acquiring an additional 8,905 shares during the last quarter. Finally, Swiss National Bank raised its position in Altair Engineering by 1.2% during the 1st quarter. Swiss National Bank now owns 107,800 shares of the software’s stock valued at $9,287,000 after purchasing an additional 1,300 shares during the last quarter. Institutional investors and hedge funds own 63.38% of the company’s stock.

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.