Altair Engineering Inc. (NASDAQ:ALTR) Insider James Dagg Sells 10,000 Shares of Stock

Altair Engineering Inc. (NASDAQ:ALTR) insider James Dagg sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, April 5th. The shares were sold at an average price of $64.50, for a total value of $645,000.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Shares of ALTR stock opened at $64.05 on Thursday. The stock has a market cap of $4.78 billion, a P/E ratio of -320.25 and a beta of 1.53. The company has a quick ratio of 2.41, a current ratio of 2.41 and a debt-to-equity ratio of 0.60. Altair Engineering Inc. has a fifty-two week low of $25.45 and a fifty-two week high of $68.58. The business has a fifty day simple moving average of $61.52 and a 200-day simple moving average of $55.27.

Altair Engineering (NASDAQ:ALTR) last posted its earnings results on Thursday, February 25th. The software reported $0.17 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.27. Altair Engineering had a negative net margin of 3.08% and a positive return on equity of 1.10%. The firm had revenue of $133.44 million during the quarter, compared to the consensus estimate of $114.54 million. On average, sell-side analysts anticipate that Altair Engineering Inc. will post -0.12 earnings per share for the current year.

A number of equities analysts recently weighed in on the stock. Royal Bank of Canada lifted their price objective on shares of Altair Engineering from $49.00 to $58.00 and gave the company a “sector perform” rating in a research report on Friday, February 19th. Zacks Investment Research upgraded shares of Altair Engineering from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a research report on Thursday, March 4th. JPMorgan Chase & Co. raised Altair Engineering from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $50.00 to $65.00 in a research note on Wednesday, December 9th. Finally, The Goldman Sachs Group upgraded Altair Engineering from a “sell” rating to a “neutral” rating and lifted their price target for the company from $42.00 to $65.00 in a research note on Monday, March 8th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Altair Engineering currently has an average rating of “Buy” and an average price target of $60.50.

Several institutional investors have recently modified their holdings of ALTR. Steward Partners Investment Advisory LLC grew its holdings in Altair Engineering by 49.4% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 478 shares of the software’s stock valued at $28,000 after buying an additional 158 shares during the last quarter. Harvest Fund Management Co. Ltd acquired a new position in Altair Engineering in the 4th quarter valued at $32,000. Nisa Investment Advisors LLC lifted its stake in shares of Altair Engineering by 33.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,600 shares of the software’s stock worth $93,000 after purchasing an additional 400 shares during the period. Duality Advisers LP purchased a new stake in shares of Altair Engineering in the fourth quarter valued at $205,000. Finally, Teacher Retirement System of Texas purchased a new position in Altair Engineering during the fourth quarter worth about $208,000. Hedge funds and other institutional investors own 54.44% of the company’s stock.

About Altair Engineering

Altair Engineering Inc, together with its subsidiaries, provides software and cloud solutions in the areas of simulation, high-performance computing, data analytics, and artificial intelligence worldwide. The company operates through two segments, Software and Client Engineering Services. Its software segment includes solvers and optimization technology products, high-performance computing software applications and hardware products, modeling and visualization tools, data analytics and analysis products, and IoT platform and analytics tools, as well as support and complementary software products.

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

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