Jeffrey Marraccini Sells 1,824 Shares of Altair Engineering Inc. (NASDAQ:ALTR) Stock

Altair Engineering Inc. (NASDAQ:ALTR) insider Jeffrey Marraccini sold 1,824 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $104.10, for a total transaction of $189,878.40. Following the completion of the transaction, the insider now directly owns 4,680 shares in the company, valued at $487,188. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Altair Engineering Stock Down 0.3 %

Altair Engineering stock opened at $103.65 on Friday. Altair Engineering Inc. has a fifty-two week low of $68.25 and a fifty-two week high of $113.12. 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 50 day moving average price of $95.72 and a 200 day moving average price of $92.32. The company has a market capitalization of $8.80 billion, a PE ratio of 272.77, a price-to-earnings-growth ratio of 13.28 and a beta of 1.44.

Institutional Trading of Altair Engineering

Institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. increased its holdings in Altair Engineering by 572.1% in the 3rd quarter. Blue Trust Inc. now owns 289 shares of the software’s stock valued at $28,000 after purchasing an additional 246 shares during the last quarter. GAMMA Investing LLC increased its holdings in Altair Engineering by 81.7% in the 2nd quarter. GAMMA Investing LLC now owns 418 shares of the software’s stock valued at $41,000 after purchasing an additional 188 shares during the last quarter. FSC Wealth Advisors LLC increased its holdings in Altair Engineering by 41.3% in the 2nd quarter. FSC Wealth Advisors LLC now owns 832 shares of the software’s stock valued at $82,000 after purchasing an additional 243 shares during the last quarter. Van ECK Associates Corp increased its holdings in Altair Engineering by 41.7% in the 2nd quarter. Van ECK Associates Corp now owns 1,057 shares of the software’s stock valued at $104,000 after purchasing an additional 311 shares during the last quarter. Finally, KBC Group NV increased its holdings in Altair Engineering by 17.9% in the 3rd quarter. KBC Group NV now owns 1,640 shares of the software’s stock valued at $157,000 after purchasing an additional 249 shares during the last quarter. Institutional investors and hedge funds own 63.38% of the company’s stock.

Wall Street Analysts Forecast Growth

ALTR has been the topic of a number of research reports. Loop Capital reissued a “hold” rating and issued a $113.00 target price on shares of Altair Engineering in a research note on Thursday, October 31st. Royal Bank of Canada raised their target price on shares of Altair Engineering from $90.00 to $113.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 31st. Wolfe Research lowered shares of Altair Engineering from a “strong-buy” rating to a “hold” rating in a research report on Sunday, November 3rd. William Blair reaffirmed a “market perform” rating on shares of Altair Engineering in a research report on Thursday, October 31st. Finally, Needham & Company LLC reaffirmed a “hold” rating and set a $100.00 price target on shares of Altair Engineering in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Altair Engineering currently has an average rating of “Hold” and a consensus 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.