Insider Selling: Altair Engineering Inc. (NASDAQ:ALTR) Insider Sells 120 Shares of Stock

Altair Engineering Inc. (NASDAQ:ALTR) insider Ravi Kunju sold 120 shares of the stock in a transaction dated 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 sale, the insider now owns 34,738 shares of the company’s stock, valued at approximately $3,874,329.14. This trade represents a 0.34 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Altair Engineering Stock Performance

Shares of ALTR stock opened at $111.60 on Friday. The stock’s 50-day simple moving average is $110.34 and its 200-day simple moving average is $102.36. The firm has a market capitalization of $9.50 billion, a PE ratio of 656.47, a P/E/G 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 data on Thursday, February 20th. The software reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.15). The firm had revenue of $192.63 million during the quarter, compared to analyst estimates of $182.98 million. Altair Engineering had a net margin of 2.13% and a return on equity of 8.08%. Sell-side analysts forecast that Altair Engineering Inc. will post 0.87 earnings per share for the current year.

Analysts Set New Price Targets

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

Institutional Trading of Altair Engineering

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Altair Engineering by 4.8% during the fourth quarter. Vanguard Group Inc. now owns 6,894,230 shares of the software’s stock worth $752,229,000 after acquiring an additional 317,575 shares during the period. Conestoga Capital Advisors LLC grew 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 worth $240,929,000 after acquiring an additional 33,985 shares during the period. State Street Corp grew its holdings in Altair Engineering by 3.3% during the third quarter. State Street Corp now owns 2,053,957 shares of the software’s stock worth $196,173,000 after acquiring an additional 65,589 shares during the period. Geode Capital Management LLC grew its holdings in Altair Engineering by 3.9% during the third quarter. Geode Capital Management LLC now owns 1,423,880 shares of the software’s stock worth $136,020,000 after acquiring an additional 53,088 shares during the period. Finally, Northern Trust Corp grew its holdings in 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 acquiring an additional 63,368 shares during the period. 63.38% of the stock is owned by institutional investors and hedge funds.

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.