Altair Engineering Inc. (NASDAQ:ALTR) CRO Sells $2,390,175.00 in Stock

Altair Engineering Inc. (NASDAQ:ALTR) CRO Nelson Dias sold 22,500 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $106.23, for a total transaction of $2,390,175.00. Following the completion of the transaction, the executive now directly owns 48,437 shares in the company, valued at $5,145,462.51. The trade was a 31.72 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Altair Engineering Trading Up 0.5 %

ALTR opened at $106.65 on Friday. The business has a fifty day moving average price of $102.83 and a 200 day moving average price of $95.57. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.27 and a quick ratio of 3.27. Altair Engineering Inc. has a 12 month low of $73.21 and a 12 month high of $113.12. The stock has a market capitalization of $9.07 billion, a price-to-earnings ratio of 280.67, a PEG ratio of 12.16 and a beta of 1.44.

Hedge Funds Weigh In On Altair Engineering

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Conestoga Capital Advisors LLC raised its holdings 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 acquiring an additional 33,985 shares in the last quarter. State Street Corp raised its holdings in shares of Altair Engineering by 3.3% in the 3rd quarter. State Street Corp now owns 2,053,957 shares of the software’s stock valued at $196,173,000 after purchasing an additional 65,589 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Altair Engineering by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,423,880 shares of the software’s stock worth $136,020,000 after purchasing an additional 53,088 shares during 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 increased 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 last quarter. 63.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ALTR has been the topic of a number of research analyst reports. Loop Capital reissued a “hold” rating and issued a $113.00 price target on shares of Altair Engineering in a research note on Thursday, October 31st. Wolfe Research cut Altair Engineering from a “strong-buy” rating to a “hold” rating in a research note on Sunday, November 3rd. Royal Bank of Canada lifted their price objective 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. William Blair reissued a “market perform” rating on shares of Altair Engineering in a research note on Thursday, October 31st. Finally, Rosenblatt Securities lifted 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. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target 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.