Insider Selling: Altair Engineering Inc. (NASDAQ:ALTR) Insider Sells 120 Shares of Stock

Altair Engineering Inc. (NASDAQ:ALTR) insider Ravi Kunju sold 120 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $111.53, for a total value of $13,383.60. Following the sale, the insider now directly owns 34,738 shares in the company, valued at approximately $3,874,329.14. The trade was a 0.34 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Altair Engineering Stock Down 0.1 %

Altair Engineering stock opened at $111.49 on Friday. The stock has a 50-day moving average price of $110.29 and a 200 day moving average price of $102.10. The company has a market capitalization of $9.49 billion, a price-to-earnings ratio of 655.82, a price-to-earnings-growth ratio of 10.75 and a beta of 1.42. Altair Engineering Inc. has a 52 week low of $75.71 and a 52 week high of $113.12.

Altair Engineering (NASDAQ:ALTR) last announced its quarterly earnings data on Thursday, February 20th. The software reported $0.36 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.15). The business had revenue of $192.63 million for the quarter, compared to analyst estimates of $182.98 million. Altair Engineering had a net margin of 2.13% and a return on equity of 8.08%. Research analysts anticipate that Altair Engineering Inc. will post 0.87 EPS for the current fiscal year.

Analyst Ratings Changes

ALTR has been the subject of several recent analyst reports. Loop Capital reiterated a “hold” rating and set a $113.00 price objective on shares of Altair Engineering in a research note on Thursday, October 31st. Royal Bank of Canada raised their price target on Altair Engineering from $90.00 to $113.00 and gave the stock a “sector perform” rating in a report on Thursday, October 31st. Rosenblatt Securities restated a “neutral” rating and set a $113.00 price target on shares of Altair Engineering in a research note on Monday. Needham & Company LLC reaffirmed a “hold” rating on shares of Altair Engineering in a research report on Friday, February 21st. Finally, William Blair reiterated a “market perform” rating on shares of Altair Engineering in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $100.83.

Institutional Investors Weigh In On Altair Engineering

Several hedge funds have recently added to or reduced their stakes in ALTR. Vanguard Group Inc. lifted its holdings in shares of Altair Engineering by 4.8% in the 4th quarter. Vanguard Group Inc. now owns 6,894,230 shares of the software’s stock valued at $752,229,000 after buying an additional 317,575 shares during the period. Conestoga Capital Advisors LLC raised its position in Altair Engineering by 1.4% during the third quarter. Conestoga Capital Advisors LLC now owns 2,522,551 shares of the software’s stock valued at $240,929,000 after acquiring an additional 33,985 shares in the last quarter. State Street Corp raised its position in Altair Engineering by 3.3% during the third quarter. State Street Corp now owns 2,053,957 shares of the software’s stock valued at $196,173,000 after acquiring an additional 65,589 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Altair Engineering by 3.9% in the third quarter. Geode Capital Management LLC now owns 1,423,880 shares of the software’s stock valued at $136,020,000 after acquiring an additional 53,088 shares during the period. Finally, Northern Trust Corp boosted its position in Altair Engineering by 9.2% in the 4th quarter. Northern Trust Corp now owns 751,191 shares of the software’s stock worth $81,962,000 after purchasing an additional 63,368 shares in the last quarter. 63.38% of the stock is owned by hedge funds and other institutional investors.

About Altair Engineering

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.