Insider Selling: Altair Engineering Inc. (NASDAQ:ALTR) Director Sells $64,542.00 in Stock

Altair Engineering Inc. (NASDAQ:ALTR) Director Teresa A. Harris sold 620 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $104.10, for a total value of $64,542.00. Following the sale, the director now directly owns 21,242 shares in the company, valued at approximately $2,211,292.20. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Altair Engineering Stock Down 0.3 %

Shares of NASDAQ:ALTR opened at $103.65 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.27 and a quick ratio of 3.27. The firm has a market capitalization of $8.80 billion, a PE ratio of 272.77, a price-to-earnings-growth ratio of 13.28 and a beta of 1.44. The business has a 50 day simple moving average of $95.72 and a two-hundred day simple moving average of $92.32. Altair Engineering Inc. has a 1 year low of $68.25 and a 1 year high of $113.12.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Royal Bank of Canada raised their price target on Altair Engineering from $90.00 to $113.00 and gave the company a “sector perform” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. cut Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 target price on the stock. in a report on Monday, July 15th. Rosenblatt Securities lifted their target price on Altair Engineering from $88.00 to $113.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Wolfe Research cut Altair Engineering from a “strong-buy” rating to a “hold” rating in a research note on Sunday, November 3rd. Finally, Loop Capital reissued a “hold” rating and set a $113.00 price objective on shares of Altair Engineering in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. According to data from MarketBeat, Altair Engineering presently has a consensus rating of “Hold” and a consensus price target of $100.71.

Institutional Trading of Altair Engineering

A number of large investors have recently modified their holdings of ALTR. Blue Trust Inc. boosted its holdings in shares of Altair Engineering by 572.1% in the third quarter. Blue Trust Inc. now owns 289 shares of the software’s stock valued at $28,000 after purchasing an additional 246 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Altair Engineering by 81.7% in the second quarter. GAMMA Investing LLC now owns 418 shares of the software’s stock valued at $41,000 after purchasing an additional 188 shares during the period. FSC Wealth Advisors LLC boosted its holdings in shares of Altair Engineering by 41.3% in the second quarter. FSC Wealth Advisors LLC now owns 832 shares of the software’s stock valued at $82,000 after purchasing an additional 243 shares during the period. Van ECK Associates Corp boosted its holdings in shares of Altair Engineering by 41.7% in the second quarter. Van ECK Associates Corp now owns 1,057 shares of the software’s stock valued at $104,000 after purchasing an additional 311 shares during the period. Finally, KBC Group NV boosted its holdings in shares of Altair Engineering by 17.9% in the third quarter. KBC Group NV now owns 1,640 shares of the software’s stock valued at $157,000 after purchasing an additional 249 shares during the period. Hedge funds and other institutional investors own 63.38% of the company’s stock.

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.