Altair Engineering Inc. (NASDAQ:ALTR) Insider Sells $189,878.40 in Stock

Altair Engineering Inc. (NASDAQ:ALTR) insider Jeffrey Marraccini sold 1,824 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $104.10, for a total transaction of $189,878.40. Following the completion of the sale, the insider now directly owns 4,680 shares of the company’s stock, valued at approximately $487,188. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Altair Engineering Stock Performance

Shares of ALTR stock opened at $103.65 on Friday. The company’s fifty day simple moving average is $95.72 and its 200-day simple moving average is $92.38. The company has a quick ratio of 3.27, a current ratio of 3.27 and a debt-to-equity ratio of 0.27. The firm has a market cap of $8.82 billion, a PE ratio of 272.77, a P/E/G ratio of 11.95 and a beta of 1.44. Altair Engineering Inc. has a 12 month low of $68.25 and a 12 month high of $113.12.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ALTR. William Blair reiterated a “market perform” rating on shares of Altair Engineering in a research report on Thursday, October 31st. JPMorgan Chase & Co. cut shares of Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 price objective for the company. in a research report on Monday, July 15th. Loop Capital restated a “hold” rating and issued a $113.00 price objective on shares of Altair Engineering in a research report on Thursday, October 31st. Wolfe Research cut shares of Altair Engineering from a “strong-buy” rating to a “hold” rating in a research report on Sunday, November 3rd. Finally, Royal Bank of Canada raised their price objective on shares of Altair Engineering from $90.00 to $113.00 and gave the company a “sector perform” rating in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, seven have given 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 an average price target of $100.71.

Institutional Trading of Altair Engineering

A number of institutional investors have recently made changes to their positions in the business. Intech Investment Management LLC bought a new stake in shares of Altair Engineering in the third quarter worth $1,084,000. King Luther Capital Management Corp increased its holdings in Altair Engineering by 5.6% during the third quarter. King Luther Capital Management Corp now owns 174,733 shares of the software’s stock worth $16,689,000 after buying an additional 9,310 shares during the last quarter. Quest Partners LLC acquired a new position in Altair Engineering during the third quarter worth $617,000. Thrivent Financial for Lutherans increased its holdings in Altair Engineering by 1.5% during the third quarter. Thrivent Financial for Lutherans now owns 13,961 shares of the software’s stock worth $1,333,000 after buying an additional 201 shares during the last quarter. Finally, Zions Bancorporation N.A. increased its holdings in Altair Engineering by 17.4% during the third quarter. Zions Bancorporation N.A. now owns 22,493 shares of the software’s stock worth $2,148,000 after buying an additional 3,326 shares during the last quarter. 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.