Teresa A. Harris Sells 620 Shares of Altair Engineering Inc. (NASDAQ:ALTR) Stock

Altair Engineering Inc. (NASDAQ:ALTR) Director Teresa A. Harris sold 620 shares of the firm’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $82.89, for a total value of $51,391.80. Following the transaction, the director now owns 18,895 shares in the company, valued at approximately $1,566,206.55. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Altair Engineering Trading Down 1.0 %

NASDAQ:ALTR opened at $85.20 on Thursday. Altair Engineering Inc. has a 52 week low of $57.59 and a 52 week high of $92.92. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.46 and a current ratio of 2.46. The firm’s fifty day moving average is $83.21 and its 200-day moving average is $79.84. The firm has a market cap of $7.03 billion, a P/E ratio of 946.67, a P/E/G ratio of 10.86 and a beta of 1.42.

Altair Engineering (NASDAQ:ALTR) last posted its earnings results on Thursday, May 2nd. The software reported $0.40 EPS for the quarter, topping the consensus estimate of $0.34 by $0.06. The company had revenue of $172.91 million during the quarter, compared to the consensus estimate of $169.29 million. Altair Engineering had a net margin of 1.55% and a return on equity of 5.60%. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.13 earnings per share. Equities analysts expect that Altair Engineering Inc. will post 0.63 earnings per share for the current year.

Hedge Funds Weigh In On Altair Engineering

Hedge funds and other institutional investors have recently made changes to their positions in the stock. McGlone Suttner Wealth Management Inc. purchased a new stake in Altair Engineering during the fourth quarter valued at about $31,000. EdgeRock Capital LLC purchased a new stake in Altair Engineering during the 4th quarter worth about $33,000. Harvest Fund Management Co. Ltd grew its holdings in Altair Engineering by 1,157.7% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 981 shares of the software’s stock valued at $83,000 after buying an additional 903 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Altair Engineering by 10.5% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,991 shares of the software’s stock worth $125,000 after acquiring an additional 190 shares during the period. Finally, SG Americas Securities LLC boosted its stake in Altair Engineering by 31.3% during the third quarter. SG Americas Securities LLC now owns 2,171 shares of the software’s stock valued at $136,000 after buying an additional 518 shares during the period. 63.38% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Oppenheimer upped their price objective on shares of Altair Engineering from $95.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, February 23rd. JPMorgan Chase & Co. lifted their price objective on shares of Altair Engineering from $86.00 to $95.00 and gave the company an “overweight” rating in a report on Tuesday, March 26th. Rosenblatt Securities reissued a “neutral” rating and set a $88.00 price target on shares of Altair Engineering in a research report on Monday, April 29th. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 target price on shares of Altair Engineering in a report on Friday, May 3rd. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $90.00 price target on shares of Altair Engineering in a report on Thursday, March 21st. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Altair Engineering currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.60.

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.