Shares of Altair Engineering (ALTR) may see additional trading volatility on Monday when a lock-up expires on a number of shares of its stock. Lock-up agreements, a typical feature of company stock offerings, prevent certain shareholders from selling for a set amount of time after the offering. WHAT’S NEW: Altair Engineering insiders will be able to sell shares for the first time on Monday, when a post-initial public offering lock-up is lifted from the stock, Bloomberg reported. The 180-day lock-up period has restricted stock sales by directors, executive officers and some other shareholders of the company and Altair has said in a filing that the lock-up expiration could harm its stock price. The company, which said it may also sell new equity, warned the expiration may cause additional share sales or increase the perception that sales may occur. WHAT’S NOTABLE: On March 22, RBC Capital Markets analyst Matthew Hedberg kept a Sector Perform rating on Altair and raised his price target to $31 from $29. The analyst said finished 2017 strong, which was highlighted by its software billings outperformance as the company shows strong execution. Hedberg said an improving mix of software revenue is positive for long-term gross margins and profitability, however incremental investments in sales and marketing as well as research and development may result in a slight near-term headwind. The analyst said he remains bullish on Altair’s fundamentals and its ability to execute against an attractive macro environment. On March 26, Needham analyst Richard Valera initiated Altair with a Buy rating and a $36 price target. Valera said while the company’s shares did not appear to be inexpensive following its strong post-IPO performance, he believes if Altair can continue to deliver strong billings growth, an accelerating top line and expanding margin, shares can see upside. The analyst noted Altair is “a leading player” in the simulation and analysis software market and he sees multiple secular drivers to the market. In addition, Valero said strong billings growth in the fourth quarter and 2017 suggest the company is seeing early success with its initiative to add direct sales capacity and accelerate software revenue growth. The analyst also sees high performance computing offering another growth vector and adds that the company’s patented units-based licensing model supports proliferation and the use of new products. PRICE ACTION: Altair was up 2.2%, or 62c, to $28.61 in afternoon trading. “Before the Move” is The Fly’s recurring series of exclusive stories that identify potentially market moving events, along with analyst predictions, ahead of the news.