Altair Engineering Inc. (NASDAQ:ALTR) Director Teresa A. Harris Sells 2,700 Shares

Altair Engineering Inc. (NASDAQ:ALTR) Director Teresa A. Harris sold 2,700 shares of the stock in a transaction that occurred on Tuesday, February 25th. The stock was 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 owns 18,542 shares in the company, valued at approximately $2,069,472.62. This trade represents a 12.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Altair Engineering Stock Performance

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

Altair Engineering (NASDAQ:ALTR) last announced its quarterly 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). The business had revenue of $192.63 million during the quarter, compared to analysts’ expectations of $182.98 million. Altair Engineering had a net margin of 2.13% and a return on equity of 8.08%. On average, equities research analysts forecast that Altair Engineering Inc. will post 0.87 earnings per share for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in ALTR. Vanguard Group Inc. grew its stake in 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 acquiring an additional 317,575 shares during the period. Conestoga Capital Advisors LLC lifted its holdings 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 purchasing an additional 33,985 shares in the last quarter. State Street Corp grew its position in shares of Altair Engineering by 3.3% in the third quarter. State Street Corp now owns 2,053,957 shares of the software’s stock valued at $196,173,000 after purchasing an additional 65,589 shares during the period. Geode Capital Management LLC grew its position in shares of 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 purchasing an additional 53,088 shares during the period. Finally, Northern Trust Corp increased its stake in shares of Altair Engineering by 9.2% during the fourth 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 institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently commented on ALTR shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Altair Engineering in a report on Friday, February 21st. Loop Capital reaffirmed a “hold” rating and issued a $113.00 price target on shares of Altair Engineering in a report on Thursday, October 31st. Royal Bank of Canada increased their price target on Altair Engineering from $90.00 to $113.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 31st. Rosenblatt Securities reissued a “neutral” rating and issued a $113.00 price objective on shares of Altair Engineering in a report on Monday. Finally, Wolfe Research lowered Altair Engineering from a “strong-buy” rating to a “hold” rating in a report on Sunday, November 3rd. One equities 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.

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.