James Ralph Scapa Sells 13,000 Shares of Altair Engineering Inc. (NASDAQ:ALTR) Stock

by · The Markets Daily

Altair Engineering Inc. (NASDAQ:ALTR – Get Free Report) CEO James Ralph Scapa sold 13,000 shares of the stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $95.10, for a total value of $1,236,300.00. Following the sale, the chief executive officer now owns 134,045 shares of the company’s stock, valued at $12,747,679.50. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

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

  • On Wednesday, August 28th, James Ralph Scapa sold 13,000 shares of Altair Engineering stock. The shares were sold at an average price of $89.04, for a total value of $1,157,520.00.
  • On Monday, July 29th, James Ralph Scapa sold 13,000 shares of Altair Engineering stock. The stock was sold at an average price of $88.11, for a total value of $1,145,430.00.

Altair Engineering Price Performance

Shares of ALTR opened at $94.83 on Thursday. The stock has a market cap of $7.87 billion, a P/E ratio of 1,053.67, a P/E/G ratio of 12.01 and a beta of 1.45. The business’s fifty day moving average is $89.27 and its 200 day moving average is $89.26. The company has a quick ratio of 3.14, a current ratio of 3.14 and a debt-to-equity ratio of 0.29. Altair Engineering Inc. has a 12-month low of $57.59 and a 12-month high of $101.39.

Altair Engineering (NASDAQ:ALTR – Get Free Report) last issued its quarterly earnings data on Thursday, August 1st. The software reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. The firm had revenue of $148.80 million during the quarter, compared to analysts’ expectations of $146.88 million. Altair Engineering had a net margin of 4.26% and a return on equity of 6.89%. The business’s revenue was up 5.4% on a year-over-year basis. During the same period last year, the company earned ($0.15) earnings per share. Sell-side analysts anticipate that Altair Engineering Inc. will post 0.65 earnings per share for the current fiscal year.

Institutional Trading of Altair Engineering

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sanctuary Advisors LLC purchased a new position in shares of Altair Engineering during the second quarter valued at approximately $293,000. Teachers Retirement System of The State of Kentucky lifted its stake in Altair Engineering by 59.9% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 26,261 shares of the software’s stock valued at $2,576,000 after acquiring an additional 9,834 shares in the last quarter. Creative Planning boosted its holdings in Altair Engineering by 97.3% during the 2nd quarter. Creative Planning now owns 10,648 shares of the software’s stock worth $1,044,000 after acquiring an additional 5,252 shares during the last quarter. Algert Global LLC bought a new stake in shares of Altair Engineering in the 2nd quarter worth $562,000. Finally, Select Equity Group L.P. raised its holdings in shares of Altair Engineering by 2.3% in the second quarter. Select Equity Group L.P. now owns 21,789 shares of the software’s stock valued at $2,137,000 after purchasing an additional 495 shares during the last quarter. 63.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several brokerages have recently commented on ALTR. 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, August 2nd. The Goldman Sachs Group cut shares of Altair Engineering from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $85.00 to $71.00 in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. lowered shares of Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 price objective on the stock. in a report on Monday, July 15th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $90.67.

Check Out Our Latest Analysis on ALTR

About Altair Engineering

(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.

See Also