Raoul Maitra Sells 1,030 Shares of Altair Engineering Inc. (NASDAQ:ALTR) Stock

Altair Engineering Inc. (NASDAQ:ALTRGet Free Report) insider Raoul Maitra sold 1,030 shares of Altair Engineering stock in a transaction that occurred on Friday, June 14th. The shares were sold at an average price of $96.31, for a total transaction of $99,199.30. Following the completion of the transaction, the insider now owns 26,230 shares of the company’s stock, valued at approximately $2,526,211.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Altair Engineering Stock Down 2.1 %

Shares of NASDAQ:ALTR opened at $96.37 on Friday. The company has a market capitalization of $8.00 billion, a PE ratio of 1,070.78, a P/E/G ratio of 12.38 and a beta of 1.45. The company has a current ratio of 2.46, a quick ratio of 2.46 and a debt-to-equity ratio of 0.30. Altair Engineering Inc. has a twelve month low of $57.59 and a twelve month high of $100.79. The firm has a 50 day simple moving average of $87.60 and a 200-day simple moving average of $84.66.

Altair Engineering (NASDAQ:ALTRGet Free Report) last issued its quarterly earnings data on Thursday, May 2nd. The software reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.06. The business 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 company’s revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.13 EPS. On average, equities analysts predict that Altair Engineering Inc. will post 0.66 EPS for the current fiscal year.

Institutional Trading of Altair Engineering

Institutional investors have recently modified their holdings of the stock. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Altair Engineering during the 4th quarter worth approximately $31,000. EdgeRock Capital LLC purchased a new stake in Altair Engineering in the 4th quarter valued at $33,000. Harvest Fund Management Co. Ltd raised its position in Altair Engineering by 1,157.7% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 981 shares of the software’s stock valued at $83,000 after purchasing an additional 903 shares during the last quarter. Natixis Investment Managers International raised its position in Altair Engineering by 68.7% in the 4th quarter. Natixis Investment Managers International now owns 1,940 shares of the software’s stock valued at $163,000 after purchasing an additional 790 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in Altair Engineering in the 1st quarter valued at $177,000. Hedge funds and other institutional investors own 63.38% of the company’s stock.

Wall Street Analyst Weigh In

ALTR has been the subject of a number of research reports. Needham & Company LLC restated a “buy” rating and issued a $100.00 price objective on shares of Altair Engineering in a report on Friday, May 3rd. Oppenheimer lifted their price target on shares of Altair Engineering from $95.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. Rosenblatt Securities reiterated a “neutral” rating and issued a $88.00 price target on shares of Altair Engineering in a research note on Monday, April 29th. JPMorgan Chase & Co. lifted their price target on shares of Altair Engineering from $86.00 to $95.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 26th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $90.00 price target on shares of Altair Engineering in a research note on Thursday, March 21st. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $94.60.

Read Our Latest Stock Report on ALTR

Altair Engineering Company Profile

(Get Free Report)

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.

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Insider Buying and Selling by Quarter for Altair Engineering (NASDAQ:ALTR)

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