Altair Engineering Inc. (NASDAQ:ALTR) Director Sells $301,347.00 in Stock

Altair Engineering Inc. (NASDAQ:ALTR) Director Teresa A. Harris sold 2,700 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $111.61, for a total value of $301,347.00. Following the sale, the director now owns 18,542 shares in the company, valued at approximately $2,069,472.62. The trade was a 12.71 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Altair Engineering Price Performance

NASDAQ ALTR traded up $0.03 on Thursday, hitting $111.63. 142,172 shares of the stock were exchanged, compared to its average volume of 764,544. The company has a market capitalization of $9.50 billion, a PE ratio of 656.62, a P/E/G ratio of 10.75 and a beta of 1.42. Altair Engineering Inc. has a 52 week low of $75.71 and a 52 week high of $113.12. The business’s fifty day moving average is $110.21 and its 200 day moving average is $102.03.

Altair Engineering (NASDAQ:ALTR) last issued its quarterly earnings data on Thursday, February 20th. The software reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.15). Altair Engineering had a return on equity of 8.08% and a net margin of 2.13%. The firm had revenue of $192.63 million for the quarter, compared to the consensus estimate of $182.98 million. Analysts predict that Altair Engineering Inc. will post 0.87 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ALTR has been the topic of several recent analyst reports. Needham & Company LLC restated a “hold” rating on shares of Altair Engineering in a report on Friday, February 21st. Rosenblatt Securities restated a “neutral” rating and set a $113.00 target price on shares of Altair Engineering in a report on Monday. Loop Capital reaffirmed a “hold” rating and issued a $113.00 target price on shares of Altair Engineering in a research report on Thursday, October 31st. Wolfe Research downgraded Altair Engineering from a “strong-buy” rating to a “hold” rating in a report on Sunday, November 3rd. Finally, William Blair reissued a “market perform” rating on shares of Altair Engineering in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $100.83.

Hedge Funds Weigh In On Altair Engineering

A number of hedge funds have recently bought and sold shares of ALTR. Vanguard Group Inc. grew its position in shares of Altair Engineering by 4.8% during the 4th quarter. Vanguard Group Inc. now owns 6,894,230 shares of the software’s stock valued at $752,229,000 after acquiring an additional 317,575 shares during the period. Conestoga Capital Advisors LLC lifted its holdings in shares of Altair Engineering by 1.4% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 2,522,551 shares of the software’s stock worth $240,929,000 after acquiring an additional 33,985 shares during the last quarter. State Street Corp lifted its position in Altair Engineering by 3.3% in the third quarter. State Street Corp now owns 2,053,957 shares of the software’s stock valued at $196,173,000 after purchasing an additional 65,589 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Altair Engineering by 3.9% in the third quarter. Geode Capital Management LLC now owns 1,423,880 shares of the software’s stock worth $136,020,000 after purchasing an additional 53,088 shares during the last quarter. Finally, Northern Trust Corp lifted its holdings in Altair Engineering by 9.2% in the fourth quarter. Northern Trust Corp now owns 751,191 shares of the software’s stock worth $81,962,000 after buying an additional 63,368 shares during the period. 63.38% of the stock is owned by hedge funds and other institutional investors.

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.