Insider Selling: Altair Engineering Inc. (NASDAQ:ALTR) Director Sells 2,700 Shares of Stock

Altair Engineering Inc. (NASDAQ:ALTR) Director Teresa A. Harris sold 2,700 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $111.61, for a total transaction of $301,347.00. Following the completion of the transaction, the director now directly owns 18,542 shares in the company, valued at approximately $2,069,472.62. The trade was a 12.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website.

Altair Engineering Stock Up 0.1 %

Altair Engineering stock opened at $111.60 on Friday. Altair Engineering Inc. has a 52 week low of $75.71 and a 52 week high of $113.12. The company’s 50 day moving average price is $110.34 and its two-hundred day moving average price is $102.26. The stock has a market cap of $9.50 billion, a P/E ratio of 656.47, a P/E/G ratio of 10.75 and a beta of 1.42.

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

Analyst Ratings Changes

Several equities analysts recently weighed in on ALTR shares. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $113.00 price target on shares of Altair Engineering in a research report on Monday, February 24th. Needham & Company LLC reissued a “hold” rating on shares of Altair Engineering in a research report on Friday, February 21st. Finally, Wolfe Research cut shares of Altair Engineering from a “strong-buy” rating to a “hold” rating in a research report on Sunday, November 3rd. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $100.83.

Institutional Investors Weigh In On Altair Engineering

A number of hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. raised 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 worth $752,229,000 after purchasing an additional 317,575 shares during the period. Conestoga Capital Advisors LLC raised its holdings in shares of Altair Engineering by 1.4% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 2,522,551 shares of the software’s stock worth $240,929,000 after purchasing an additional 33,985 shares during the period. State Street Corp raised its holdings in shares of Altair Engineering by 3.3% in the 3rd quarter. State Street Corp now owns 2,053,957 shares of the software’s stock worth $196,173,000 after purchasing an additional 65,589 shares during the period. Geode Capital Management LLC raised its holdings in shares of Altair Engineering by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,423,880 shares of the software’s stock worth $136,020,000 after purchasing an additional 53,088 shares during the period. Finally, Northern Trust Corp raised its holdings in shares of 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 during the period. Institutional investors 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.