Altair Engineering Inc. (NASDAQ:ALTR) Insider Ravi Kunju Sells 360 Shares

Altair Engineering Inc. (NASDAQ:ALTR) insider Ravi Kunju sold 360 shares of the stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $103.65, for a total transaction of $37,314.00. Following the completion of the transaction, the insider now directly owns 30,305 shares of the company’s stock, valued at approximately $3,141,113.25. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Altair Engineering Stock Performance

Shares of NASDAQ:ALTR opened at $104.00 on Wednesday. The firm has a market cap of $8.85 billion, a PE ratio of 273.69, a price-to-earnings-growth ratio of 11.91 and a beta of 1.44. The firm’s 50 day simple moving average is $96.33 and its 200-day simple moving average is $92.74. Altair Engineering Inc. has a one year low of $68.87 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.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Rosenblatt Securities increased their price target on shares of Altair Engineering from $88.00 to $113.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Wolfe Research downgraded shares of Altair Engineering from a “strong-buy” rating to a “hold” rating in a report on Sunday, November 3rd. Needham & Company LLC reaffirmed a “hold” rating and issued a $100.00 price target on shares of Altair Engineering in a report on Thursday, October 31st. Royal Bank of Canada raised their price objective on shares of Altair Engineering from $90.00 to $113.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 31st. Finally, William Blair reissued a “market perform” rating on shares of Altair Engineering in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $100.71.

Hedge Funds Weigh In On Altair Engineering

Institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC increased its position in shares of Altair Engineering by 52.2% during the third quarter. GAMMA Investing LLC now owns 636 shares of the software’s stock worth $61,000 after acquiring an additional 218 shares during the period. Russell Investments Group Ltd. increased its holdings in Altair Engineering by 5,564.8% during the first quarter. Russell Investments Group Ltd. now owns 31,043 shares of the software’s stock valued at $2,676,000 after buying an additional 30,495 shares during the period. Moody Aldrich Partners LLC increased its holdings in Altair Engineering by 15.2% during the third quarter. Moody Aldrich Partners LLC now owns 75,233 shares of the software’s stock valued at $7,186,000 after buying an additional 9,907 shares during the period. Linden Thomas Advisory Services LLC purchased a new position in Altair Engineering during the second quarter valued at approximately $629,000. Finally, Jane Street Group LLC increased its holdings in Altair Engineering by 960.2% during the first 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 during the period. 63.38% of the stock is owned by hedge funds and other institutional investors.

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.