Altair Engineering Inc. (NASDAQ:ALTR - Get Free Report) major shareholder George J. Christ sold 12,783 shares of Altair Engineering stock in a transaction dated Tuesday, April 9th. The stock was 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 of the company's stock, valued at approximately $16,072,579.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more of a company's stock 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 stock was sold at an average price of $87.32, for a total transaction of $8,732,000.00.
Altair Engineering Price Performance
ALTR stock opened at $83.67 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.16 and a quick ratio of 2.16. Altair Engineering Inc. has a one year low of $57.59 and a one year high of $92.92. The stock has a market cap of $6.90 billion, a PE ratio of -643.62, a P/E/G ratio of 11.46 and a beta of 1.42. The firm has a 50 day simple moving average of $85.43 and a two-hundred day simple moving average of $77.29.
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Altair Engineering (NASDAQ:ALTR - Get Free Report) last released its quarterly earnings results on Thursday, February 22nd. The software reported $0.29 EPS for the quarter, topping analysts' consensus estimates of $0.22 by $0.07. Altair Engineering had a negative net margin of 1.46% and a positive return on equity of 3.77%. The business had revenue of $171.50 million during the quarter, compared to analysts' expectations of $172.48 million. On average, analysts predict that Altair Engineering Inc. will post 0.63 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on ALTR shares. Oppenheimer lifted their target price on shares of Altair Engineering from $95.00 to $100.00 and gave the stock an "outperform" rating in a research note on Friday, February 23rd. Needham & Company LLC reiterated a "buy" rating and issued a $100.00 target price on shares of Altair Engineering in a research note on Monday, March 25th. 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 note on Tuesday, March 26th. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $90.00 price objective on shares of Altair Engineering in a research note on Thursday, March 21st. Finally, Rosenblatt Securities reaffirmed a "neutral" rating and set a $88.00 price objective (up previously from $74.00) on shares of Altair Engineering in a research note on Friday, February 23rd. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Altair Engineering currently has an average rating of "Moderate Buy" and a consensus target price of $88.71.
Check Out Our Latest Research Report on Altair Engineering
Hedge Funds Weigh In On Altair Engineering
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Teachers Retirement System of The State of Kentucky purchased a new position in Altair Engineering in the 3rd quarter worth approximately $1,049,000. Comerica Bank bought a new stake in shares of Altair Engineering in the 3rd quarter worth approximately $11,051,000. Lazard Asset Management LLC lifted its holdings in shares of Altair Engineering by 168,148.1% in the 3rd quarter. Lazard Asset Management LLC now owns 45,427 shares of the software's stock worth $2,841,000 after acquiring an additional 45,400 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Altair Engineering by 4.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 415,538 shares of the software's stock worth $25,996,000 after acquiring an additional 16,075 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Altair Engineering by 22.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 951,698 shares of the software's stock worth $59,538,000 after acquiring an additional 176,780 shares during the last quarter. Hedge funds and other institutional investors own 63.38% of the company's stock.
Altair Engineering Company Profile
(
Get Free Report)
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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