James Ralph Scapa sells 35,000 shares of Altair Engineering Inc. (NASDAQ:ALTR).

Altair Engineering Inc. (NASDAQ:ALTR – Get Rating) CEO James Ralph Scapa sold 35,000 shares of the company’s stock in a transaction that took place on Monday, January 9th. The shares sold at an average price of $48.45 for a total value of $1,695,750.00. Upon completion of the transaction, the Chief Executive Officer now directly owns 83,962 shares of the Company, valued at $4,067,958.90. The sale was disclosed in a document filed with the SEC, which can be accessed at this link.

James Ralph Scapa also recently made the following trades:

  • On Tuesday November 15, James Ralph Scapa sold 57,915 shares of Altair Engineering. The shares sold at an average price of $49.97 for a total transaction of $2,894,012.55.

Altair Engineering Trading up 1.5%

Shares of ALTR stock rose $0.74 on Tuesday midday to reach $48.90. The stock had a trading volume of 119,187 shares compared to an average volume of 231,615. Altair Engineering Inc. has a yearly low of $43.17 and a yearly high of $69.64. The company’s 50-day simple moving average is $46.83 and its 200-day simple moving average is $49.55. The company has a gearing ratio of 0.57, a current ratio of 2.35 and a quick ratio of 2.35.

Altair Engineering (NASDAQ:ALTR – Get Rating) last issued its earnings results on Thursday, November 3rd. The software reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.19) by $0.03. The company had revenue of $119.35 million for the quarter, compared to analysts’ expectations of $118.47 million. Altair Engineering had a negative return on equity of 0.13% and a negative net margin of 10.30%. On average, equities analysts are forecasting that Altair Engineering Inc. will report earnings per share of 0.02 for the current year.

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Institutional inflows and outflows

A number of hedge funds and other institutional investors have recently added to or reduced their holdings in ALTR. US Bancorp DE increased its stake in Altair Engineering by 6.6% in the second quarter. US Bancorp DE now owns 3,885 shares of the software, valued at $204,000, after purchasing an additional 240 shares last quarter. The Arizona State Retirement System increased its holdings of Altair Engineering stock by 1.8% during the second quarter. The Arizona State Retirement System now owns 13,976 shares of the software, valued at $734,000, after purchasing an additional 247 shares last quarter. Nisa Investment Advisors LLC increased its position in Altair Engineering by 15.7% in the second quarter. Nisa Investment Advisors LLC now owns 2,140 shares of the software, valued at $112,000, after purchasing an additional 290 shares last quarter. Ellevest Inc. increased its stake in Altair Engineering by 182.3% in the second quarter. Ellevest Inc. now owns 573 shares of the software, valued at $30,000, after purchasing an additional 370 shares last quarter. Finally, Prudential Financial Inc. increased its stake in Altair Engineering by 12.0% during the second quarter. Prudential Financial Inc. now owns 3,875 shares of the software, valued at $202,000, after purchasing an additional 415 shares last quarter. Institutional investors own 61.66% of the company’s shares.

Wall Street analysts forecast growth

A number of research analysts recently issued reports on the stock. Rosenblatt Securities lowered its price target on Altair Engineering shares to $63.00 from $70.00 and issued a research note on Monday, October 24, with a “buy” rating of the stock. Needham & Company LLC began reporting on Altair Engineering in a research report on Wednesday, November 16th. They provided a buy rating and a price target of $60.00 on the stock. Finally, TheStreet downgraded Altair Engineering from a “c-” rating to a “d+” rating in a research report on Monday, September 19th. One equities research analyst has rated the stock with a sell rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, Altair Engineering currently has a consensus rating of “Moderate Buy” and an average target price of $58.80.

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Company Profile of Altair Engineering

(received rating)

Altair Engineering Inc, together with its subsidiaries, provides simulation, high-performance computing, data analysis and artificial intelligence software and cloud solutions worldwide. The Company operates through two segments, Software and Client Engineering Services. The Software segment includes solvers and optimization technology products, high-performance computing software applications and hardware products, modeling and visualization tools, data analysis and analysis products, and IoT platform and analysis tools, and support and the complementary software products.

Selected Stories

Insider Buying and Sales by Quarter for Altair Engineering (NASDAQ:ALTR)

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