James Ralph Scapa Sells 13,000 Shares of Altair Engineering Inc. (NASDAQ:ALTR) Stock

Altair Engineering Inc. (NASDAQ:ALTR) CEO James Ralph Scapa sold 13,000 shares of the stock in a transaction dated Friday, June 28th. The shares were sold at an average price of $98.26, for a total transaction of $1,277,380.00. Following the completion of the sale, the chief executive officer now owns 134,045 shares of the company’s stock, valued at approximately $13,171,261.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Monday, June 10th, James Ralph Scapa sold 13,000 shares of Altair Engineering stock. The stock was sold at an average price of $93.16, for a total value of $1,211,080.00.
• On Wednesday, May 8th, James Ralph Scapa sold 5,560 shares of Altair Engineering stock. The shares were sold at an average price of $84.37, for a total value of $469,097.20.

Altair Engineering Price Performance

Shares of Altair Engineering stock traded down $0.54 during mid-day trading on Monday, reaching $97.54. 373,999 shares of the stock were exchanged, compared to its average volume of 509,430. Altair Engineering Inc. has a fifty-two week low of $57.59 and a fifty-two week high of $100.79. The company has a market cap of $8.10 billion, a price-to-earnings ratio of 1,083.78, a price-to-earnings-growth ratio of 12.34 and a beta of 1.48. The firm has a 50-day simple moving average of $89.77 and a 200 day simple moving average of $85.99. 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 (NASDAQ:ALTR) last posted its quarterly earnings data on Thursday, May 2nd. The software reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.06. The company had revenue of $172.91 million during the quarter, compared to analyst estimates of $169.29 million. Altair Engineering had a net margin of 1.55% and a return on equity of 5.60%. The company’s revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the business posted $0.13 earnings per share. On average, sell-side analysts predict that Altair Engineering Inc. will post 0.66 EPS for the current fiscal year.

Hedge Funds Weigh In On Altair Engineering

Several institutional investors have recently bought and sold shares of ALTR. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Altair Engineering in the fourth quarter valued at $31,000. EdgeRock Capital LLC bought a new stake in Altair Engineering during the 4th quarter worth about $33,000. Harvest Fund Management Co. Ltd grew its holdings in Altair Engineering by 1,157.7% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 981 shares of the software’s stock worth $83,000 after acquiring an additional 903 shares during the last quarter. Natixis Investment Managers International increased its position in Altair Engineering by 68.7% in the 4th quarter. Natixis Investment Managers International now owns 1,940 shares of the software’s stock valued at $163,000 after acquiring an additional 790 shares in the last quarter. Finally, SG Americas Securities LLC bought a new position in shares of Altair Engineering in the first quarter worth about $177,000. Institutional investors own 63.38% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have weighed in on ALTR. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price target on shares of Altair Engineering in a research note on Friday, May 3rd. Rosenblatt Securities reiterated a “neutral” rating and set a $88.00 target price on shares of Altair Engineering in a research report on Monday, April 29th. Royal Bank of Canada reissued a “sector perform” rating and issued a $90.00 price target on shares of Altair Engineering in a research report on Thursday, March 21st. Finally, JPMorgan Chase & Co. lifted their price objective on Altair Engineering from $86.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, March 26th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $94.60.

About Altair Engineering

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.