Altair Engineering Inc. (NASDAQ:ALTR) Major Shareholder George J. Christ Sells 12,783 Shares

Altair Engineering Inc. (NASDAQ:ALTR - Get Free Report) major shareholder George J. Christ sold 12,783 shares of the stock in a transaction that occurred on Tuesday, April 9th. The shares were sold at an average price of $85.85, for a total transaction of $1,097,420.55. Following the completion of the transaction, the insider now owns 187,217 shares in the company, valued at $16,072,579.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own 10% or more of a company's shares are required to disclose their sales and purchases 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 transaction of $8,732,000.00.

Altair Engineering Price Performance

Shares of ALTR traded up $1.54 during trading hours on Thursday, reaching $83.67. The stock had a trading volume of 298,667 shares, compared to its average volume of 418,942. The stock has a market capitalization of $6.90 billion, a PE ratio of -643.62, a PEG ratio of 11.46 and a beta of 1.42. Altair Engineering Inc. has a 12 month low of $57.59 and a 12 month high of $92.92. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.16 and a current ratio of 2.16. The company's 50-day moving average is $85.43 and its two-hundred day moving average is $77.29.

Altair Engineering (NASDAQ:ALTR - Get Free Report) last posted 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. The firm had revenue of $171.50 million for the quarter, compared to analyst estimates of $172.48 million. Altair Engineering had a negative net margin of 1.46% and a positive return on equity of 3.77%. Research analysts expect that Altair Engineering Inc. will post 0.63 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ALTR. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $90.00 price objective on shares of Altair Engineering in a research report on Thursday, March 21st. JPMorgan Chase & Co. lifted their target price on shares of Altair Engineering from $86.00 to $95.00 and gave the stock an "overweight" rating in a report on Tuesday, March 26th. Needham & Company LLC reaffirmed a "buy" rating and issued a $100.00 target price on shares of Altair Engineering in a research report on Monday, March 25th. Rosenblatt Securities reissued a "neutral" rating and set a $88.00 target price (up previously from $74.00) on shares of Altair Engineering in a report on Friday, February 23rd. Finally, Oppenheimer boosted their price target on Altair Engineering from $95.00 to $100.00 and gave the company an "outperform" rating in a research note on Friday, February 23rd. Three equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $88.71.

Institutional Trading of Altair Engineering

Institutional investors and hedge funds have recently bought and sold shares of the stock. McGlone Suttner Wealth Management Inc. acquired a new stake in Altair Engineering during the 4th quarter valued at approximately $31,000. EdgeRock Capital LLC acquired a new stake in shares of Altair Engineering during the fourth quarter worth $33,000. UBS Group AG increased its position in shares of Altair Engineering by 48.7% during the fourth quarter. UBS Group AG now owns 938 shares of the software's stock worth $43,000 after buying an additional 307 shares during the period. Harvest Fund Management Co. Ltd raised its stake in Altair Engineering by 1,157.7% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 981 shares of the software's stock worth $83,000 after buying an additional 903 shares during the last quarter. Finally, Tower Research Capital LLC TRC lifted its holdings in Altair Engineering by 17.2% in the third quarter. Tower Research Capital LLC TRC now owns 1,481 shares of the software's stock valued at $93,000 after buying an additional 217 shares during the period. 63.38% of the stock is currently owned by institutional investors and hedge funds.

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.