Insider Selling: Altair Engineering Inc. (NASDAQ:ALTR) Insider Sells 360 Shares of Stock

Altair Engineering Inc. (NASDAQ:ALTR) insider Ravi Kunju sold 360 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $103.65, for a total value of $37,314.00. Following the sale, the insider now owns 30,305 shares in the company, valued at $3,141,113.25. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Altair Engineering Stock Performance

Shares of Altair Engineering stock traded down $0.20 on Tuesday, reaching $103.80. 438,407 shares of the company were exchanged, compared to its average volume of 568,353. The company’s 50-day moving average is $95.99 and its two-hundred day moving average is $92.59. 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 $8.83 billion, a price-to-earnings ratio of 273.69, a P/E/G ratio of 11.91 and a beta of 1.44. Altair Engineering Inc. has a 1-year low of $68.87 and a 1-year high of $113.12.

Institutional Trading of Altair Engineering

Several hedge funds and other institutional investors have recently modified their holdings of the company. Matrix Capital Management Company LP raised its stake in shares of Altair Engineering by 1.6% in the first quarter. Matrix Capital Management Company LP now owns 12,430,000 shares of the software’s stock valued at $1,070,844,000 after acquiring an additional 196,826 shares during the last quarter. Vanguard Group Inc. increased its stake in Altair Engineering by 3.2% in the first quarter. Vanguard Group Inc. now owns 5,944,285 shares of the software’s stock valued at $512,100,000 after acquiring an additional 182,840 shares during the last quarter. Conestoga Capital Advisors LLC boosted its position in Altair Engineering by 1.4% in the third quarter. Conestoga Capital Advisors LLC now owns 2,522,551 shares of the software’s stock valued at $240,929,000 after buying an additional 33,985 shares in the last quarter. William Blair Investment Management LLC acquired a new position in shares of Altair Engineering during the second quarter worth $91,589,000. Finally, Bank of New York Mellon Corp lifted its holdings in Altair Engineering by 121.7% in the second quarter. Bank of New York Mellon Corp now owns 569,109 shares of the software’s stock valued at $55,818,000 after buying an additional 312,448 shares during the period. 63.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. JPMorgan Chase & Co. downgraded Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 price objective on the stock. in a research note on Monday, July 15th. Wolfe Research downgraded shares of Altair Engineering from a “strong-buy” rating to a “hold” rating in a research report on Sunday, November 3rd. Needham & Company LLC restated a “hold” rating and issued a $100.00 target price on shares of Altair Engineering in a research note on Thursday, October 31st. Rosenblatt Securities upped their target price on Altair Engineering from $88.00 to $113.00 and gave the company a “neutral” rating 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 report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $100.71.

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.