Altair Engineering Inc. (NASDAQ:ALTR) Insider Ravi Kunju Sells 120 Shares

Altair Engineering Inc. (NASDAQ:ALTR) insider Ravi Kunju sold 120 shares of the company’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $111.53, for a total value of $13,383.60. Following the completion of the transaction, the insider now owns 34,738 shares of the company’s stock, valued at approximately $3,874,329.14. This represents a 0.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Altair Engineering Trading Up 0.1 %

ALTR stock opened at $111.60 on Friday. The firm has a 50 day simple moving average of $110.34 and a 200-day simple moving average of $102.26. The company has a market capitalization of $9.50 billion, a P/E ratio of 656.47, a PEG ratio of 10.75 and a beta of 1.42. Altair Engineering Inc. has a twelve month low of $75.71 and a twelve month high of $113.12.

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

Analysts Set New Price Targets

A number of research analysts have recently commented on ALTR shares. Rosenblatt Securities reissued a “neutral” rating and set a $113.00 target price on shares of Altair Engineering in a research report on Monday, February 24th. Needham & Company LLC reiterated a “hold” rating on shares of Altair Engineering in a report on Friday, February 21st. Finally, Wolfe Research cut shares of Altair Engineering from a “strong-buy” rating to a “hold” rating in a research report on Sunday, November 3rd. One analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $100.83.

Hedge Funds Weigh In On Altair Engineering

A number of hedge funds have recently bought and sold shares of ALTR. NBT Bank N A NY raised its stake in Altair Engineering by 76.4% during the fourth quarter. NBT Bank N A NY now owns 247 shares of the software’s stock valued at $27,000 after buying an additional 107 shares in the last quarter. Blue Trust Inc. grew its position in shares of Altair Engineering by 572.1% in 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. UMB Bank n.a. increased its holdings in shares of Altair Engineering by 77.0% in the 4th quarter. UMB Bank n.a. now owns 285 shares of the software’s stock valued at $31,000 after acquiring an additional 124 shares during the last quarter. Johnson Financial Group Inc. acquired a new stake in shares of Altair Engineering during the 4th quarter valued at approximately $37,000. Finally, GAMMA Investing LLC lifted its stake in Altair Engineering by 14.6% during the fourth quarter. GAMMA Investing LLC now owns 729 shares of the software’s stock worth $80,000 after purchasing an additional 93 shares during the last quarter. 63.38% of the stock is currently owned by institutional investors and hedge funds.

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.