Insider Selling: Altair Engineering Inc (NASDAQ:ALTR) CEO Sells 62,993 Shares of Stock

Altair Engineering Inc (NASDAQ:ALTR) CEO James Ralph Scapa sold 62,993 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $40.93, for a total transaction of $2,578,303.49. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

  • On Monday, June 3rd, James Ralph Scapa sold 83,700 shares of Altair Engineering stock. The stock was sold at an average price of $36.86, for a total transaction of $3,085,182.00.
  • On Friday, May 3rd, James Ralph Scapa sold 78,150 shares of Altair Engineering stock. The stock was sold at an average price of $37.04, for a total transaction of $2,894,676.00.
  • On Wednesday, May 1st, James Ralph Scapa sold 20,112 shares of Altair Engineering stock. The shares were sold at an average price of $38.30, for a total transaction of $770,289.60.
  • On Wednesday, April 10th, James Ralph Scapa sold 28,727 shares of Altair Engineering stock. The shares were sold at an average price of $36.90, for a total transaction of $1,060,026.30.
  • On Monday, April 8th, James Ralph Scapa sold 16,814 shares of Altair Engineering stock. The shares were sold at an average price of $37.14, for a total transaction of $624,471.96.

Shares of ALTR stock opened at $41.57 on Friday. The firm has a market capitalization of $2.96 billion, a PE ratio of 112.35 and a beta of 1.40. The company has a current ratio of 1.09, a quick ratio of 1.06 and a debt-to-equity ratio of 0.12. Altair Engineering Inc has a fifty-two week low of $25.28 and a fifty-two week high of $43.99. The firm’s 50 day simple moving average is $37.89.

Altair Engineering (NASDAQ:ALTR) last announced its quarterly earnings results on Thursday, May 9th. The software reported $0.26 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.04. Altair Engineering had a net margin of 2.62% and a return on equity of 11.56%. The firm had revenue of $127.86 million for the quarter, compared to analysts’ expectations of $125.82 million. During the same period in the previous year, the company posted $0.35 earnings per share. Altair Engineering’s revenue was up 12.9% compared to the same quarter last year. On average, research analysts anticipate that Altair Engineering Inc will post 0.52 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Royce & Associates LP lifted its position in shares of Altair Engineering by 22.6% during the first quarter. Royce & Associates LP now owns 83,154 shares of the software’s stock worth $3,061,000 after purchasing an additional 15,338 shares in the last quarter. Well Done LLC lifted its position in shares of Altair Engineering by 0.7% during the first quarter. Well Done LLC now owns 52,106 shares of the software’s stock worth $1,918,000 after purchasing an additional 355 shares in the last quarter. Rhumbline Advisers lifted its position in shares of Altair Engineering by 30.8% during the fourth quarter. Rhumbline Advisers now owns 33,604 shares of the software’s stock worth $927,000 after purchasing an additional 7,916 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its position in shares of Altair Engineering by 53.2% during the first quarter. Oppenheimer Asset Management Inc. now owns 11,039 shares of the software’s stock worth $406,000 after purchasing an additional 3,835 shares in the last quarter. Finally, Tibra Equities Europe Ltd acquired a new position in shares of Altair Engineering during the fourth quarter worth $334,000. 38.54% of the stock is currently owned by institutional investors and hedge funds.

ALTR has been the topic of a number of recent research reports. Needham & Company LLC lifted their price target on shares of Altair Engineering from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Thursday, March 14th. Zacks Investment Research cut shares of Altair Engineering from a “buy” rating to a “hold” rating in a research report on Monday, March 18th. Guggenheim initiated coverage on shares of Altair Engineering in a research report on Tuesday, March 19th. They set a “neutral” rating and a $37.70 price target on the stock. Finally, ValuEngine cut shares of Altair Engineering from a “buy” rating to a “hold” rating in a research report on Saturday, May 18th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $39.28.

About Altair Engineering

Altair Engineering Inc, together with its subsidiaries, provides software and cloud solutions worldwide. The company operates through two segments, Software and Client Engineering Services. Its integrated suite of multi-disciplinary computer aided engineering software optimizes design performance across various disciplines, including structures, motion, fluids, thermal management, electromagnetics, system modeling and embedded systems.

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Insider Buying and Selling by Quarter for Altair Engineering (NASDAQ:ALTR)

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