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

Altair Engineering Inc. (NASDAQ:ALTR) CEO James Ralph Scapa sold 13,000 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $105.69, for a total value of $1,373,970.00. Following the sale, the chief executive officer now owns 134,045 shares in the company, valued at approximately $14,167,216.05. The trade was a 8.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Monday, October 28th, James Ralph Scapa sold 13,000 shares of Altair Engineering stock. The shares were sold at an average price of $102.59, for a total value of $1,333,670.00.
• On Monday, September 30th, James Ralph Scapa sold 13,000 shares of Altair Engineering stock. The shares were sold at an average price of $95.10, for a total value of $1,236,300.00.

Altair Engineering Stock Performance

Shares of ALTR traded up $0.23 during mid-day trading on Monday, hitting $105.84. The stock had a trading volume of 391,510 shares, compared to its average volume of 586,695. The company has a market cap of $9.00 billion, a PE ratio of 276.82, a PEG ratio of 12.14 and a beta of 1.44. The company’s fifty day simple moving average is $100.49 and its two-hundred day simple moving average is $94.60. The company has a quick ratio of 3.27, a current ratio of 3.27 and a debt-to-equity ratio of 0.27. Altair Engineering Inc. has a fifty-two week low of $70.07 and a fifty-two week high of $113.12.

Analysts Set New Price Targets

Several research firms have issued reports on ALTR. Royal Bank of Canada lifted their price objective on Altair Engineering from $90.00 to $113.00 and gave the stock a “sector perform” rating in a report on Thursday, October 31st. William Blair restated a “market perform” rating on shares of Altair Engineering in a report on Thursday, October 31st. Loop Capital restated a “hold” rating and set a $113.00 price objective on shares of Altair Engineering in a report on Thursday, October 31st. Rosenblatt Securities lifted their price objective on Altair Engineering from $88.00 to $113.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, Needham & Company LLC restated a “hold” rating and set a $100.00 price objective on shares of Altair Engineering in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $100.71.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. New York State Teachers Retirement System boosted its position in Altair Engineering by 1.2% during the 3rd quarter. New York State Teachers Retirement System now owns 8,500 shares of the software’s stock valued at $812,000 after purchasing an additional 100 shares during the period. ProShare Advisors LLC boosted its position in Altair Engineering by 1.6% during the 2nd quarter. ProShare Advisors LLC now owns 10,219 shares of the software’s stock valued at $1,002,000 after purchasing an additional 160 shares during the period. Ballentine Partners LLC boosted its position in Altair Engineering by 8.5% during the 3rd quarter. Ballentine Partners LLC now owns 2,236 shares of the software’s stock valued at $214,000 after purchasing an additional 175 shares during the period. GAMMA Investing LLC grew its stake in shares of Altair Engineering by 81.7% in the second quarter. GAMMA Investing LLC now owns 418 shares of the software’s stock worth $41,000 after purchasing an additional 188 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its stake in shares of Altair Engineering by 1.5% in the third quarter. Thrivent Financial for Lutherans now owns 13,961 shares of the software’s stock worth $1,333,000 after purchasing an additional 201 shares in the last quarter. Institutional investors and hedge funds own 63.38% of the company’s stock.

Altair Engineering Company Profile

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.