James Ralph Scapa Sells 10,000 Shares of Altair Engineering Inc. (NASDAQ:ALTR) Stock

Altair Engineering Inc. (NASDAQ:ALTR – Get Rating) CEO James Ralph Scapa sold 10,000 shares of the stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $67.94, for a total transaction of $679,400.00. Following the transaction, the chief executive officer now directly owns 112,858 shares in the company, valued at $7,667,572.52. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

James Ralph Scapa also recently made the following trade(s):

• On Friday, May 12th, James Ralph Scapa sold 548 shares of Altair Engineering stock. The shares were sold at an average price of $67.40, for a total transaction of $36,935.20.
• On Wednesday, May 10th, James Ralph Scapa sold 5,358 shares of Altair Engineering stock. The shares were sold at an average price of $67.82, for a total transaction of $363,379.56.
• On Monday, April 17th, James Ralph Scapa sold 10,000 shares of Altair Engineering stock. The shares were sold at an average price of $70.33, for a total transaction of $703,300.00.
• On Wednesday, March 15th, James Ralph Scapa sold 35,000 shares of Altair Engineering stock. The shares were sold at an average price of $66.16, for a total transaction of $2,315,600.00.

Altair Engineering Price Performance

Shares of ALTR stock opened at $69.82 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.83 and a quick ratio of 1.83. The firm’s 50-day moving average is $69.15 and its two-hundred day moving average is $57.55. Altair Engineering Inc. has a 12 month low of $43.17 and a 12 month high of $72.66. The company has a market capitalization of $5.63 billion, a PE ratio of -95.64, a price-to-earnings-growth ratio of 22.35 and a beta of 1.50.

Altair Engineering (NASDAQ:ALTR – Get Rating) last issued its earnings results on Thursday, February 23rd. The software reported $0.14 EPS for the quarter. Altair Engineering had a negative net margin of 9.84% and a negative return on equity of 0.23%. The company had revenue of $160.43 million for the quarter, compared to the consensus estimate of $146.01 million. Analysts predict that Altair Engineering Inc. will post 0.25 earnings per share for the current year.

Hedge Funds Weigh In On Altair Engineering

A number of institutional investors have recently bought and sold shares of the company. 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 valued at $43,000 after acquiring an additional 307 shares during the last quarter. Global Retirement Partners LLC increased its position in shares of Altair Engineering by 91.6% during the first quarter. Global Retirement Partners LLC now owns 801 shares of the software’s stock valued at $54,000 after acquiring an additional 383 shares during the last quarter. Harvest Fund Management Co. Ltd increased its position in shares of Altair Engineering by 138.6% during the first quarter. Harvest Fund Management Co. Ltd now owns 1,348 shares of the software’s stock valued at $97,000 after acquiring an additional 783 shares during the last quarter. Counterpoint Mutual Funds LLC acquired a new stake in shares of Altair Engineering during the fourth quarter valued at about $123,000. Finally, Prudential Financial Inc. increased its position in shares of Altair Engineering by 12.0% during the second quarter. Prudential Financial Inc. now owns 3,875 shares of the software’s stock valued at $202,000 after acquiring an additional 415 shares during the last quarter. 61.66% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ALTR has been the topic of several research reports. Loop Capital raised their price target on shares of Altair Engineering from $70.00 to $81.00 and gave the stock a “buy” rating in a research note on Tuesday, April 18th. Needham & Company LLC raised their price target on shares of Altair Engineering from $70.00 to $77.00 in a research note on Monday, May 8th. Rosenblatt Securities raised their price target on shares of Altair Engineering from $63.00 to $67.00 and gave the stock a “buy” rating in a research note on Friday, February 24th. The Goldman Sachs Group raised shares of Altair Engineering from a “sell” rating to a “neutral” rating and raised their price target for the stock from $44.00 to $67.00 in a research note on Friday, May 5th. Finally, TheStreet raised shares of Altair Engineering from a “d+” rating to a “c” rating in a research note on Friday, February 24th. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Altair Engineering currently has an average rating of “Moderate Buy” and an average price target of $71.17.

Altair Engineering Company Profile

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Altair Engineering, Inc engages in the provision of software and cloud solutions for product design & development, high performance cloud computing, and data intelligence. It operates through the following segments: Software and Client Engineering Services. The Software segment includes a portfolio of software products, as well as solvers and optimization technology products, modelling and visualization tools.