Insider Selling: Altair Engineering Inc. (NASDAQ:ALTR) Director Sells $58,974.40 in Stock

Altair Engineering Inc. (NASDAQ:ALTR) Director Teresa A. Harris sold 620 shares of Altair Engineering stock in a transaction on Tuesday, October 1st. The shares were sold at an average price of $95.12, for a total value of $58,974.40. Following the transaction, the director now owns 21,242 shares in the company, valued at $2,020,539.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Altair Engineering Stock Down 0.9 %

Shares of ALTR opened at $93.94 on Friday. The business’s 50 day moving average is $89.27 and its 200 day moving average is $89.26. The company has a current ratio of 3.14, a quick ratio of 3.14 and a debt-to-equity ratio of 0.29. Altair Engineering Inc. has a 12-month low of $57.59 and a 12-month high of $101.39. The company has a market capitalization of $7.80 billion, a PE ratio of 1,043.78, a price-to-earnings-growth ratio of 12.01 and a beta of 1.45.

Altair Engineering (NASDAQ:ALTR) last released its quarterly earnings data on Thursday, August 1st. The software reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.01. Altair Engineering had a net margin of 4.26% and a return on equity of 6.89%. The firm had revenue of $148.80 million for the quarter, compared to analysts’ expectations of $146.88 million. During the same quarter last year, the business posted ($0.15) earnings per share. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. Research analysts expect that Altair Engineering Inc. will post 0.65 earnings per share for the current fiscal year.

Institutional Trading of Altair Engineering

Hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP increased its holdings in shares of Altair Engineering by 97.3% in the fourth quarter. Wellington Management Group LLP now owns 1,182,339 shares of the software’s stock worth $99,494,000 after purchasing an additional 583,127 shares during the last quarter. Russell Investments Group Ltd. increased its stake in Altair Engineering by 5,564.8% in the 1st quarter. Russell Investments Group Ltd. now owns 31,043 shares of the software’s stock worth $2,676,000 after acquiring an additional 30,495 shares during the last quarter. Matrix Capital Management Company LP raised its holdings in shares of Altair Engineering by 8.3% during the 4th quarter. Matrix Capital Management Company LP now owns 12,233,174 shares of the software’s stock worth $1,029,422,000 after acquiring an additional 932,717 shares in the last quarter. Bain Capital Public Equity LP bought a new position in shares of Altair Engineering during the 4th quarter valued at approximately $6,376,000. Finally, Linden Thomas Advisory Services LLC purchased a new position in shares of Altair Engineering in the second quarter valued at $629,000. Hedge funds and other institutional investors own 63.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ALTR shares. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price objective on shares of Altair Engineering in a research note on Friday, August 2nd. The Goldman Sachs Group lowered shares of Altair Engineering from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $85.00 to $71.00 in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. downgraded shares of Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 price objective on the stock. in a research report on Monday, July 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, Altair Engineering presently has a consensus rating of “Hold” and an average price target of $90.67.

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.