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

Altair Engineering Inc. (NASDAQ:ALTR) insider Ravi Kunju sold 120 shares of the business’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $111.53, for a total transaction of $13,383.60. Following the completion of the sale, the insider now owns 34,738 shares in the company, valued at $3,874,329.14. This represents a 0.34 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Altair Engineering Price Performance

Altair Engineering stock opened at $111.49 on Friday. The stock has a market cap of $9.49 billion, a price-to-earnings ratio of 655.82, a price-to-earnings-growth ratio of 10.75 and a beta of 1.42. The firm has a 50-day moving average of $110.29 and a two-hundred day moving average of $102.10. Altair Engineering Inc. has a 1 year low of $75.71 and a 1 year 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 (EPS) 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 analysts’ expectations of $182.98 million. Altair Engineering had a net margin of 2.13% and a return on equity of 8.08%. Research analysts expect that Altair Engineering Inc. will post 0.87 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ALTR. Loop Capital reaffirmed a “hold” rating and issued a $113.00 price objective on shares of Altair Engineering in a research note on Thursday, October 31st. Wolfe Research downgraded shares of Altair Engineering from a “strong-buy” rating to a “hold” rating in a research note on Sunday, November 3rd. Rosenblatt Securities restated a “neutral” rating and issued a $113.00 target price on shares of Altair Engineering in a report on Monday. William Blair reissued a “market perform” rating on shares of Altair Engineering in a research report on Thursday, October 31st. Finally, Royal Bank of Canada upped their target price on Altair Engineering from $90.00 to $113.00 and gave the company a “sector perform” rating in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $100.83.

Institutional Trading of Altair Engineering

Several institutional investors and hedge funds have recently made changes to their positions in the company. NBT Bank N A NY grew its holdings in Altair Engineering by 76.4% during the 4th quarter. NBT Bank N A NY now owns 247 shares of the software’s stock worth $27,000 after acquiring an additional 107 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Altair Engineering by 572.1% in the 3rd quarter. Blue Trust Inc. now owns 289 shares of the software’s stock worth $28,000 after purchasing an additional 246 shares during the period. UMB Bank n.a. lifted its position in shares of Altair Engineering by 77.0% in the 4th quarter. UMB Bank n.a. now owns 285 shares of the software’s stock worth $31,000 after purchasing an additional 124 shares during the period. Johnson Financial Group Inc. bought a new position in shares of Altair Engineering during the fourth quarter valued at approximately $37,000. Finally, GAMMA Investing LLC increased its holdings in Altair Engineering by 14.6% during the fourth quarter. GAMMA Investing LLC now owns 729 shares of the software’s stock valued at $80,000 after buying an additional 93 shares during the period. 63.38% of the stock is currently owned by institutional investors.

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.