Altair Engineering Inc. (NASDAQ:ALTR) CEO James Ralph Scapa Sells 2,520 Shares

Altair Engineering Inc. (NASDAQ:ALTRGet Rating) CEO James Ralph Scapa sold 2,520 shares of the firm’s stock in a transaction that occurred on Thursday, May 12th. The stock was sold at an average price of $49.31, for a total value of $124,261.20. Following the completion of the sale, the chief executive officer now owns 161,139 shares of the company’s stock, valued at approximately $7,945,764.09. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

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

  • On Saturday, March 12th, James Ralph Scapa sold 81 shares of Altair Engineering stock. The stock was sold at an average price of $59.50, for a total value of $4,819.50.
  • On Wednesday, March 16th, James Ralph Scapa sold 1,760 shares of Altair Engineering stock. The stock was sold at an average price of $58.50, for a total value of $102,960.00.
  • On Monday, March 14th, James Ralph Scapa sold 1,406 shares of Altair Engineering stock. The stock was sold at an average price of $59.96, for a total value of $84,303.76.
  • On Monday, March 7th, James Ralph Scapa sold 1,791 shares of Altair Engineering stock. The stock was sold at an average price of $64.55, for a total value of $115,609.05.

ALTR stock opened at $53.07 on Friday. The business has a fifty day moving average price of $59.11 and a 200 day moving average price of $65.70. Altair Engineering Inc. has a fifty-two week low of $48.77 and a fifty-two week high of $82.96. The stock has a market capitalization of $4.21 billion, a price-to-earnings ratio of -294.82 and a beta of 1.54.

Altair Engineering (NASDAQ:ALTRGet Rating) last released its earnings results on Thursday, May 5th. The software reported $0.38 EPS for the quarter, beating the consensus estimate of $0.30 by $0.08. The company had revenue of $159.78 million during the quarter, compared to analysts’ expectations of $154.16 million. Altair Engineering had a positive return on equity of 3.27% and a negative net margin of 2.15%. The business’s revenue for the quarter was up 6.4% on a year-over-year basis. During the same period last year, the firm earned $0.23 EPS. As a group, equities research analysts forecast that Altair Engineering Inc. will post 0.2 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Matrix Capital Management Company LP increased its stake in shares of Altair Engineering by 5.1% in the 4th quarter. Matrix Capital Management Company LP now owns 8,600,000 shares of the software’s stock valued at $664,952,000 after buying an additional 419,411 shares during the period. BlackRock Inc. increased its stake in shares of Altair Engineering by 7.5% in the 1st quarter. BlackRock Inc. now owns 4,879,144 shares of the software’s stock valued at $314,217,000 after buying an additional 339,610 shares during the period. Vanguard Group Inc. increased its stake in shares of Altair Engineering by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 4,645,906 shares of the software’s stock valued at $299,196,000 after buying an additional 18,157 shares during the period. Pictet Asset Management SA increased its stake in shares of Altair Engineering by 2.7% in the 4th quarter. Pictet Asset Management SA now owns 3,873,734 shares of the software’s stock valued at $299,517,000 after buying an additional 100,732 shares during the period. Finally, Conestoga Capital Advisors LLC increased its stake in shares of Altair Engineering by 1.4% in the 1st quarter. Conestoga Capital Advisors LLC now owns 2,362,649 shares of the software’s stock valued at $152,155,000 after buying an additional 32,010 shares during the period. 97.47% of the stock is owned by institutional investors.

ALTR has been the subject of a number of recent research reports. The Goldman Sachs Group dropped their target price on Altair Engineering from $78.00 to $67.00 and set a “neutral” rating for the company in a report on Monday, March 7th. Zacks Investment Research cut Altair Engineering from a “buy” rating to a “hold” rating in a report on Wednesday, March 2nd. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $80.60.

Altair Engineering Company Profile (Get Rating)

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 in two segments, Software and Client Engineering Services. The 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 Internet of Things platform and analytics tools, as well as support and the complementary software products.

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