Insider Selling: Altair Engineering Inc. (NASDAQ:ALTR) CRO Sells $41,600.69 in Stock

Altair Engineering Inc. (NASDAQ:ALTR) CRO Nelson Dias sold 373 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $111.53, for a total transaction of $41,600.69. Following the transaction, the executive now owns 57,573 shares in the company, valued at $6,421,116.69. The trade was a 0.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Nelson Dias also recently made the following trade(s):

• On Tuesday, December 10th, Nelson Dias sold 22,500 shares of Altair Engineering stock. The shares were sold at an average price of $106.23, for a total transaction of $2,390,175.00.

Altair Engineering Stock Performance

Shares of NASDAQ:ALTR opened at $111.60 on Friday. Altair Engineering Inc. has a 52 week low of $75.71 and a 52 week high of $113.12. The company has a market capitalization of $9.50 billion, a PE ratio of 656.47, a PEG ratio of 10.75 and a beta of 1.42. The company has a 50 day moving average price of $110.34 and a two-hundred day moving average price of $102.36.

Altair Engineering (NASDAQ:ALTR) last issued its earnings results on Thursday, February 20th. The software reported $0.36 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.15). Altair Engineering had a net margin of 2.13% and a return on equity of 8.08%. The firm had revenue of $192.63 million during the quarter, compared to the consensus estimate of $182.98 million. On average, sell-side analysts forecast that Altair Engineering Inc. will post 0.87 earnings per share for the current year.

Institutional Investors Weigh In On Altair Engineering

Large investors have recently made changes to their positions in the stock. Fisher Asset Management LLC increased its position in shares of Altair Engineering by 27.0% during the third quarter. Fisher Asset Management LLC now owns 401,612 shares of the software’s stock worth $38,358,000 after acquiring an additional 85,303 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Altair Engineering by 1.7% during the fourth quarter. Principal Financial Group Inc. now owns 168,665 shares of the software’s stock worth $18,403,000 after acquiring an additional 2,872 shares in the last quarter. Citigroup Inc. increased its position in shares of Altair Engineering by 141.0% during the third quarter. Citigroup Inc. now owns 50,518 shares of the software’s stock worth $4,825,000 after acquiring an additional 29,556 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Altair Engineering during the third quarter worth $1,356,000. Finally, Versor Investments LP bought a new stake in shares of Altair Engineering during the third quarter worth $487,000. Institutional investors own 63.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Needham & Company LLC restated a “hold” rating on shares of Altair Engineering in a report on Friday, February 21st. Rosenblatt Securities restated a “neutral” rating and issued a $113.00 price objective on shares of Altair Engineering in a report on Monday, February 24th. Finally, Wolfe Research lowered shares of Altair Engineering from a “strong-buy” rating to a “hold” rating in a report on Sunday, November 3rd. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $100.83.

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.