Insider Selling: Altair Engineering Inc. (NASDAQ:ALTR) CRO Sells 22,500 Shares of Stock

Altair Engineering Inc. (NASDAQ:ALTR) CRO Nelson Dias sold 22,500 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $106.23, for a total transaction of $2,390,175.00. Following the completion of the sale, the executive now directly owns 48,437 shares of the company’s stock, valued at approximately $5,145,462.51. The trade was a 31.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

Altair Engineering Stock Down 0.3 %

Altair Engineering stock traded down $0.32 during mid-day trading on Wednesday, reaching $105.84. The stock had a trading volume of 522,932 shares, compared to its average volume of 589,384. The stock’s 50-day simple moving average is $102.14 and its 200-day simple moving average is $95.33. Altair Engineering Inc. has a fifty-two week low of $72.29 and a fifty-two week high of $113.12. The firm has a market capitalization of $9.00 billion, a PE ratio of 279.38, a price-to-earnings-growth ratio of 12.20 and a beta of 1.44. 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 Inflows and Outflows

A number of hedge funds have recently modified their holdings of ALTR. Blue Trust Inc. boosted its stake in shares of Altair Engineering by 572.1% during the 3rd quarter. Blue Trust Inc. now owns 289 shares of the software’s stock worth $28,000 after acquiring an additional 246 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Altair Engineering by 52.2% during the 3rd quarter. GAMMA Investing LLC now owns 636 shares of the software’s stock valued at $61,000 after acquiring an additional 218 shares in the last quarter. FSC Wealth Advisors LLC lifted its position in shares of Altair Engineering by 41.3% during the second quarter. FSC Wealth Advisors LLC now owns 832 shares of the software’s stock worth $82,000 after purchasing an additional 243 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Altair Engineering by 41.7% during the second quarter. Van ECK Associates Corp now owns 1,057 shares of the software’s stock worth $104,000 after buying an additional 311 shares during the last quarter. Finally, KBC Group NV increased its stake in Altair Engineering by 17.9% in the third quarter. KBC Group NV now owns 1,640 shares of the software’s stock valued at $157,000 after purchasing an additional 249 shares in the last quarter. Institutional investors own 63.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ALTR shares. 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. William Blair reaffirmed a “market perform” rating on shares of Altair Engineering in a report on Thursday, October 31st. Royal Bank of Canada boosted their target price on shares of Altair Engineering from $90.00 to $113.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 31st. Needham & Company LLC reaffirmed a “hold” rating and set a $100.00 price objective on shares of Altair Engineering in a research note on Thursday, October 31st. Finally, Loop Capital reissued a “hold” rating and issued a $113.00 price objective on shares of Altair Engineering in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $100.71.

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.