Altair Engineering Inc. (NASDAQ:ALTR) Insider Sells $37,314.00 in Stock

Altair Engineering Inc. (NASDAQ:ALTR) insider Ravi Kunju sold 360 shares of Altair Engineering stock in a transaction on Monday, November 11th. The stock was sold at an average price of $103.65, for a total transaction of $37,314.00. Following the completion of the transaction, the insider now directly owns 30,305 shares in the company, valued at $3,141,113.25. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Altair Engineering Stock Performance

Shares of Altair Engineering stock opened at $104.00 on Wednesday. The firm has a 50-day simple moving average of $96.33 and a two-hundred day simple moving average of $92.74. The company has a market cap of $8.85 billion, a P/E ratio of 273.69, a price-to-earnings-growth ratio of 11.91 and a beta of 1.44. Altair Engineering Inc. has a fifty-two week low of $68.87 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.

Institutional Trading of Altair Engineering

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Fisher Asset Management LLC grew its stake in Altair Engineering by 27.0% during the 3rd quarter. Fisher Asset Management LLC now owns 401,612 shares of the software’s stock valued at $38,358,000 after acquiring an additional 85,303 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in Altair Engineering by 44.1% during the 3rd quarter. Daiwa Securities Group Inc. now owns 24,500 shares of the software’s stock valued at $2,340,000 after acquiring an additional 7,500 shares in the last quarter. Citigroup Inc. grew its stake in Altair Engineering by 141.0% during the 3rd quarter. Citigroup Inc. now owns 50,518 shares of the software’s stock valued at $4,825,000 after acquiring an additional 29,556 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Altair Engineering by 9.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 505,470 shares of the software’s stock valued at $48,277,000 after acquiring an additional 42,592 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in Altair Engineering by 31.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 392,343 shares of the software’s stock valued at $37,473,000 after acquiring an additional 94,219 shares in the last quarter. Hedge funds and other institutional investors own 63.38% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on ALTR shares. Wolfe Research downgraded shares of Altair Engineering from a “strong-buy” rating to a “hold” rating in a research note on Sunday, November 3rd. Rosenblatt Securities lifted their price objective on shares of Altair Engineering from $88.00 to $113.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Needham & Company LLC reiterated a “hold” rating and set a $100.00 price objective on shares of Altair Engineering in a research note on Thursday, October 31st. Loop Capital reiterated a “hold” rating and set a $113.00 price objective on shares of Altair Engineering in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group downgraded shares of Altair Engineering from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $85.00 to $71.00 in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company 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.