Teresa A. Harris Sells 620 Shares of Altair Engineering Inc. (NASDAQ:ALTR) Stock

Altair Engineering Inc. (NASDAQ:ALTR) Director Teresa A. Harris sold 620 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $104.10, for a total transaction of $64,542.00. Following the completion of the transaction, the director now directly owns 21,242 shares of the company’s stock, valued at $2,211,292.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Altair Engineering Price Performance

NASDAQ:ALTR opened at $103.65 on Friday. Altair Engineering Inc. has a one year low of $68.25 and a one year high of $113.12. The company has a debt-to-equity ratio of 0.27, a quick ratio of 3.27 and a current ratio of 3.27. The firm has a market cap of $8.80 billion, a price-to-earnings ratio of 272.77, a PEG ratio of 13.28 and a beta of 1.44. The firm’s fifty day moving average is $95.72 and its two-hundred day moving average is $92.32.

Institutional Investors Weigh In On Altair Engineering

Hedge funds have recently modified their holdings of the company. GAMMA Investing LLC boosted its stake in shares of Altair Engineering by 52.2% during the 3rd quarter. GAMMA Investing LLC now owns 636 shares of the software’s stock worth $61,000 after acquiring an additional 218 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Altair Engineering by 5,564.8% during 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 in the last quarter. Moody Aldrich Partners LLC boosted its stake in shares of Altair Engineering by 15.2% during the 3rd quarter. Moody Aldrich Partners LLC now owns 75,233 shares of the software’s stock worth $7,186,000 after acquiring an additional 9,907 shares in the last quarter. Linden Thomas Advisory Services LLC purchased a new stake in shares of Altair Engineering during the 2nd quarter worth about $629,000. Finally, Jane Street Group LLC lifted its stake in Altair Engineering by 960.2% in the 1st quarter. Jane Street Group LLC now owns 303,672 shares of the software’s stock valued at $26,161,000 after buying an additional 275,030 shares in the last quarter. 63.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ALTR. Rosenblatt Securities upped their price target on Altair Engineering from $88.00 to $113.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. The Goldman Sachs Group downgraded Altair Engineering from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $85.00 to $71.00 in a research report on Friday, August 2nd. Needham & Company LLC reissued a “hold” rating and issued a $100.00 target price on shares of Altair Engineering in a research report on Thursday, October 31st. Loop Capital reissued a “hold” rating and issued a $113.00 target price on shares of Altair Engineering in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. downgraded Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 target price on the stock. in a research report on Monday, July 15th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $100.71.

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.