Altair Engineering Inc. (NASDAQ:ALTR - Get Free Report) CAO Brian Gayle sold 773 shares of Altair Engineering stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $90.10, for a total transaction of $69,647.30. Following the completion of the sale, the chief accounting officer now directly owns 18,423 shares of the company's stock, valued at $1,659,912.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Brian Gayle also recently made the following trade(s):
- On Wednesday, May 8th, Brian Gayle sold 173 shares of Altair Engineering stock. The shares were sold at an average price of $84.38, for a total transaction of $14,597.74.
- On Monday, March 4th, Brian Gayle sold 193 shares of Altair Engineering stock. The shares were sold at an average price of $85.32, for a total transaction of $16,466.76.
- On Wednesday, February 28th, Brian Gayle sold 138 shares of Altair Engineering stock. The shares were sold at an average price of $83.65, for a total transaction of $11,543.70.
Altair Engineering Price Performance
ALTR stock traded up $0.97 on Monday, hitting $91.47. 409,197 shares of the company's stock traded hands, compared to its average volume of 409,437. Altair Engineering Inc. has a 1-year low of $57.59 and a 1-year high of $92.92. The stock has a market cap of $7.59 billion, a price-to-earnings ratio of 1,020.67, a P/E/G ratio of 11.38 and a beta of 1.42. The stock has a fifty day moving average of $83.80 and a 200-day moving average of $81.33. 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 - Get Free Report) last released its earnings results on Thursday, May 2nd. The software reported $0.40 EPS for the quarter, beating the consensus estimate of $0.34 by $0.06. Altair Engineering had a net margin of 1.55% and a return on equity of 5.60%. The business had revenue of $172.91 million during the quarter, compared to analyst estimates of $169.29 million. During the same period in the prior year, the business earned $0.13 earnings per share. The business's quarterly revenue was up 4.1% on a year-over-year basis. On average, analysts forecast that Altair Engineering Inc. will post 0.66 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented on ALTR shares. Oppenheimer boosted their price objective on shares of Altair Engineering from $95.00 to $100.00 and gave the stock an "outperform" rating in a report on Friday, February 23rd. Royal Bank of Canada reissued a "sector perform" rating and issued a $90.00 target price on shares of Altair Engineering in a research report on Thursday, March 21st. JPMorgan Chase & Co. boosted their price objective on shares of Altair Engineering from $86.00 to $95.00 and gave the company an "overweight" rating in a research report on Tuesday, March 26th. Needham & Company LLC reaffirmed a "buy" rating and set a $100.00 price objective on shares of Altair Engineering in a research report on Friday, May 3rd. Finally, Rosenblatt Securities reaffirmed a "neutral" rating and set a $88.00 price objective on shares of Altair Engineering in a research report on Monday, April 29th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $94.60.
Read Our Latest Report on Altair Engineering
Institutional Investors Weigh In On Altair Engineering
A number of large investors have recently made changes to their positions in ALTR. McGlone Suttner Wealth Management Inc. acquired a new position in Altair Engineering in the 4th quarter valued at approximately $31,000. EdgeRock Capital LLC acquired a new position in Altair Engineering in the 4th quarter valued at approximately $33,000. Harvest Fund Management Co. Ltd increased its stake in Altair Engineering by 1,157.7% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 981 shares of the software's stock valued at $83,000 after buying an additional 903 shares during the period. Allspring Global Investments Holdings LLC increased its stake in Altair Engineering by 10.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,991 shares of the software's stock valued at $125,000 after buying an additional 190 shares during the period. Finally, Natixis Investment Managers International increased its stake 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 buying an additional 790 shares during the period. Institutional investors and hedge funds own 63.38% of the company's stock.
About Altair Engineering
(
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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.
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