Insider Selling: Altair Engineering Inc. (NASDAQ:ALTR) Insider Sells 1,684 Shares of Stock

Altair Engineering Inc. (NASDAQ:ALTR) insider Gilma Saravia sold 1,684 shares of the stock in a transaction dated Friday, May 17th. The shares were sold at an average price of $91.08, for a total value of $153,378.72. Following the transaction, the insider now owns 17,080 shares in the company, valued at $1,555,646.40. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Altair Engineering Stock Down 0.1 %

ALTR stock opened at $90.65 on Thursday. Altair Engineering Inc. has a twelve month low of $57.59 and a twelve month high of $92.92. The company has a quick ratio of 2.46, a current ratio of 2.46 and a debt-to-equity ratio of 0.30. The firm has a market cap of $7.53 billion, a PE ratio of 1,007.22, a price-to-earnings-growth ratio of 11.51 and a beta of 1.42. The business has a 50 day moving average of $84.33 and a 200 day moving average of $81.80.

Altair Engineering (NASDAQ:ALTR) last posted its quarterly earnings data on Thursday, May 2nd. The software reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.06. Altair Engineering had a return on equity of 5.60% and a net margin of 1.55%. The company had revenue of $172.91 million during the quarter, compared to analyst estimates of $169.29 million. During the same quarter last year, the company earned $0.13 EPS. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. On average, research analysts forecast that Altair Engineering Inc. will post 0.66 EPS for the current fiscal year.

Institutional Trading of Altair Engineering

A number of institutional investors and hedge funds have recently modified their holdings of ALTR. Bank of New York Mellon Corp increased its holdings in shares of Altair Engineering by 6.6% in the 3rd quarter. Bank of New York Mellon Corp now owns 269,932 shares of the software’s stock worth $16,887,000 after purchasing an additional 16,768 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of Altair Engineering by 8.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,535 shares of the software’s stock worth $1,723,000 after acquiring an additional 2,039 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in shares of Altair Engineering by 10.5% in the third 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. Victory Capital Management Inc. grew its holdings in shares of Altair Engineering by 95.7% in the third quarter. Victory Capital Management Inc. now owns 392,414 shares of the software’s stock worth $24,549,000 after acquiring an additional 191,866 shares during the period. Finally, Arizona State Retirement System grew its holdings in shares of Altair Engineering by 3.3% in the third quarter. Arizona State Retirement System now owns 15,208 shares of the software’s stock worth $951,000 after acquiring an additional 492 shares during the period. Institutional investors own 63.38% of the company’s stock.

Wall Street Analyst Weigh In

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

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.