Teresa A. Harris Sells 2,700 Shares of Altair Engineering Inc. (NASDAQ:ALTR) Stock

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

Altair Engineering Price Performance

Altair Engineering stock opened at $111.49 on Friday. The firm has a 50 day simple moving average of $110.29 and a 200-day simple moving average of $102.10. The stock has a market cap of $9.49 billion, a price-to-earnings ratio of 655.82, a price-to-earnings-growth ratio of 10.75 and a beta of 1.42. Altair Engineering Inc. has a 1-year low of $75.71 and a 1-year high of $113.12.

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 the consensus estimate of $0.51 by ($0.15). The business had revenue of $192.63 million during the quarter, compared to analysts’ expectations of $182.98 million. Altair Engineering had a return on equity of 8.08% and a net margin of 2.13%. Equities analysts expect that Altair Engineering Inc. will post 0.87 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Altair Engineering

A number of hedge funds have recently modified their holdings of ALTR. Fisher Asset Management LLC lifted its position in Altair Engineering by 27.0% in the third quarter. Fisher Asset Management LLC now owns 401,612 shares of the software’s stock valued at $38,358,000 after buying an additional 85,303 shares during the last quarter. Citigroup Inc. lifted its holdings in shares of Altair Engineering by 141.0% in the 3rd quarter. Citigroup Inc. now owns 50,518 shares of the software’s stock worth $4,825,000 after acquiring an additional 29,556 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Altair Engineering by 1.7% during the 4th quarter. Principal Financial Group Inc. now owns 168,665 shares of the software’s stock worth $18,403,000 after purchasing an additional 2,872 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Altair Engineering in the 3rd quarter valued at approximately $1,356,000. Finally, Versor Investments LP purchased a new stake in Altair Engineering in the third quarter valued at approximately $487,000. 63.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Loop Capital reiterated 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 shares of Altair Engineering from a “strong-buy” rating to a “hold” rating in a report on Sunday, November 3rd. Rosenblatt Securities restated a “neutral” rating and set a $113.00 target price on shares of Altair Engineering in a report on Monday. Needham & Company LLC restated a “hold” rating on shares of Altair Engineering in a research report on Friday, February 21st. Finally, William Blair reiterated a “market perform” rating on shares of Altair Engineering in a research report on Thursday, October 31st. One 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 currently has a consensus rating of “Hold” and an average target price of $100.83.

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.