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

Altair Engineering Inc. (NASDAQ:ALTR) insider Ravi Kunju sold 120 shares of the stock in a transaction on 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 in the company, valued at approximately $3,874,329.14. This trade represents a 0.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Altair Engineering Stock Up 0.0 %

ALTR stock traded up $0.05 during trading on Thursday, reaching $111.65. The stock had a trading volume of 274,449 shares, compared to its average volume of 767,923. The company has a market capitalization of $9.50 billion, a price-to-earnings ratio of 656.82, a P/E/G ratio of 10.75 and a beta of 1.42. Altair Engineering Inc. has a one year low of $75.71 and a one year high of $113.12. The company’s 50 day moving average is $110.21 and its two-hundred day moving average is $102.03.

Altair Engineering (NASDAQ:ALTR) last issued its quarterly earnings results on Thursday, February 20th. The software reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.15). The business had revenue of $192.63 million for 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%. As a group, research analysts predict that Altair Engineering Inc. will post 0.87 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on ALTR shares. William Blair reiterated a “market perform” rating on shares of Altair Engineering in a research report on Thursday, October 31st. Rosenblatt Securities reaffirmed a “neutral” rating and set a $113.00 price target on shares of Altair Engineering in a report on Monday. Loop Capital restated a “hold” rating and set a $113.00 price objective on shares of Altair Engineering in a research report on Thursday, October 31st. Needham & Company LLC reissued a “hold” rating on shares of Altair Engineering in a research note on Friday, February 21st. Finally, Royal Bank of Canada raised their price target on shares of 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 analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $100.83.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of ALTR. Fisher Asset Management LLC raised its stake in shares of Altair Engineering by 27.0% during the 3rd quarter. Fisher Asset Management LLC now owns 401,612 shares of the software’s stock valued at $38,358,000 after purchasing an additional 85,303 shares during the period. Citigroup Inc. lifted its holdings in shares of Altair Engineering by 141.0% in the third quarter. Citigroup Inc. now owns 50,518 shares of the software’s stock worth $4,825,000 after buying an additional 29,556 shares in the last quarter. Principal Financial Group Inc. boosted its stake in Altair Engineering by 1.7% during the fourth quarter. Principal Financial Group Inc. now owns 168,665 shares of the software’s stock valued at $18,403,000 after buying an additional 2,872 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Altair Engineering in the 3rd quarter worth about $1,356,000. Finally, Versor Investments LP purchased a new stake in shares of Altair Engineering in the 3rd quarter valued at about $487,000. 63.38% of the stock is owned by 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.