Altair Engineering Inc. (NASDAQ:ALTR) CFO Sells $114,127.20 in Stock

Altair Engineering Inc. (NASDAQ:ALTR) CFO Matthew Charles Brown sold 1,048 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $108.90, for a total transaction of $114,127.20. Following the completion of the sale, the chief financial officer now owns 55,519 shares in the company, valued at $6,046,019.10. This represents a 1.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Altair Engineering Stock Performance

NASDAQ ALTR opened at $109.01 on Friday. The business’s 50-day moving average price is $105.45 and its 200 day moving average price is $96.96. The company has a current ratio of 3.27, a quick ratio of 3.27 and a debt-to-equity ratio of 0.27. Altair Engineering Inc. has a twelve month low of $75.71 and a twelve month high of $113.12. The company has a market capitalization of $9.27 billion, a PE ratio of 286.88, a price-to-earnings-growth ratio of 12.16 and a beta of 1.44.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Blue Trust Inc. increased its position in Altair Engineering by 572.1% during the third quarter. Blue Trust Inc. now owns 289 shares of the software’s stock worth $28,000 after purchasing an additional 246 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of Altair Engineering by 52.2% during the 3rd quarter. GAMMA Investing LLC now owns 636 shares of the software’s stock valued at $61,000 after buying an additional 218 shares during the period. Van ECK Associates Corp increased its holdings in shares of Altair Engineering by 41.7% during the 2nd quarter. Van ECK Associates Corp now owns 1,057 shares of the software’s stock worth $104,000 after buying an additional 311 shares during the last quarter. KBC Group NV raised its position in shares of Altair Engineering by 17.9% in the 3rd quarter. KBC Group NV now owns 1,640 shares of the software’s stock worth $157,000 after buying an additional 249 shares during the period. Finally, Ballentine Partners LLC acquired a new position in Altair Engineering in the second quarter valued at $202,000. 63.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. William Blair reiterated a “market perform” rating on shares of Altair Engineering in a research report on Thursday, October 31st. Rosenblatt Securities raised their price target on Altair Engineering from $88.00 to $113.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Royal Bank of Canada upped their price objective on Altair Engineering from $90.00 to $113.00 and gave the company a “sector perform” rating in a research report on Thursday, October 31st. Wolfe Research cut Altair Engineering from a “strong-buy” rating to a “hold” rating in a research report on Sunday, November 3rd. Finally, Needham & Company LLC restated a “hold” rating and issued a $100.00 target price on shares of Altair Engineering in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target 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.