Insider Selling: Altair Engineering Inc. (NASDAQ:ALTR) Major Shareholder Sells $1,106,419.60 in Stock

Altair Engineering Inc. (NASDAQ:ALTR) major shareholder George J. Christ sold 12,760 shares of the stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $86.71, for a total value of $1,106,419.60. Following the sale, the insider now directly owns 287,240 shares in the company, valued at $24,906,580.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their transactions with the SEC.

George J. Christ also recently made the following trade(s):

• On Tuesday, January 23rd, George J. Christ sold 100,000 shares of Altair Engineering stock. The shares were sold at an average price of $87.32, for a total value of $8,732,000.00.

Altair Engineering Trading Down 0.1 %

Shares of Altair Engineering stock opened at $86.15 on Friday. The firm has a market capitalization of $7.11 billion, a PE ratio of -662.69, a P/E/G ratio of 11.89 and a beta of 1.43. Altair Engineering Inc. has a twelve month low of $57.59 and a twelve month high of $92.92. The firm’s 50-day moving average price is $85.81 and its 200 day moving average price is $75.89. The company has a current ratio of 2.16, a quick ratio of 2.16 and a debt-to-equity ratio of 0.32.

Altair Engineering (NASDAQ:ALTR) last released its earnings results on Thursday, February 22nd. The software reported $0.29 earnings per share for the quarter, topping analysts’ consensus estimates of $0.22 by $0.07. Altair Engineering had a negative net margin of 1.46% and a positive return on equity of 3.77%. The business had revenue of $171.50 million for the quarter, compared to analyst estimates of $172.48 million. On average, sell-side analysts predict that Altair Engineering Inc. will post 0.6 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Rosenblatt Securities restated a “neutral” rating and set a $88.00 target price (up from $74.00) on shares of Altair Engineering in a research report on Friday, February 23rd. JPMorgan Chase & Co. raised their target price on Altair Engineering from $86.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday. Oppenheimer raised their target price on Altair Engineering from $95.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, February 23rd. Royal Bank of Canada restated a “sector perform” rating and set a $90.00 target price on shares of Altair Engineering in a research report on Thursday, March 21st. Finally, Needham & Company LLC restated a “buy” rating and set a $100.00 target price on shares of Altair Engineering in a research report on Monday. Three research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $88.71.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of ALTR. MetLife Investment Management LLC lifted its stake in Altair Engineering by 54.5% in the 1st quarter. MetLife Investment Management LLC now owns 24,032 shares of the software’s stock worth $1,548,000 after purchasing an additional 8,474 shares in the last quarter. Rhumbline Advisers lifted its stake in Altair Engineering by 1.5% in the 1st quarter. Rhumbline Advisers now owns 47,705 shares of the software’s stock worth $3,072,000 after purchasing an additional 704 shares in the last quarter. BlackRock Inc. lifted its stake in Altair Engineering by 7.5% in the 1st quarter. BlackRock Inc. now owns 4,879,144 shares of the software’s stock worth $314,217,000 after purchasing an additional 339,610 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Altair Engineering by 3.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 353,243 shares of the software’s stock worth $22,750,000 after purchasing an additional 10,216 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in Altair Engineering by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 4,645,906 shares of the software’s stock worth $299,196,000 after purchasing an additional 18,157 shares in the last quarter. 63.38% of the stock is owned by hedge funds and other institutional investors.

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.