Insider Selling: Altair Engineering Inc. (NASDAQ:ALTR) Insider Sells $13,383.60 in Stock

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

Altair Engineering Trading Up 0.1 %

Shares of ALTR stock opened at $111.60 on Friday. Altair Engineering Inc. has a twelve month low of $75.71 and a twelve month high of $113.12. The stock has a market capitalization of $9.50 billion, a price-to-earnings ratio of 656.47, a P/E/G ratio of 10.75 and a beta of 1.42. The stock has a fifty day simple moving average of $110.34 and a two-hundred day simple moving average of $102.36.

Altair Engineering (NASDAQ:ALTR) last issued its earnings results on Thursday, February 20th. The software reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.15). Altair Engineering had a return on equity of 8.08% and a net margin of 2.13%. The firm had revenue of $192.63 million during the quarter, compared to analysts’ expectations of $182.98 million. Research analysts predict that Altair Engineering Inc. will post 0.87 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on the company. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $113.00 price objective on shares of Altair Engineering in a research report on Monday, February 24th. Wolfe Research downgraded Altair Engineering from a “strong-buy” rating to a “hold” rating in a research report on Sunday, November 3rd. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Altair Engineering in a research report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus 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 made changes to their positions in the stock. Vanguard Group Inc. lifted its stake in shares of Altair Engineering by 4.8% during 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 last quarter. Conestoga Capital Advisors LLC lifted its stake in shares of Altair Engineering by 1.4% during 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 last quarter. State Street Corp lifted its stake in shares of Altair Engineering by 3.3% during 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 last quarter. Geode Capital Management LLC lifted its stake in shares of Altair Engineering by 3.9% during 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 last quarter. Finally, Northern Trust Corp lifted its stake in shares of Altair Engineering by 9.2% during 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 last quarter. 63.38% of the stock is currently owned by hedge funds and other institutional investors.

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.