Insider Selling: Altair Engineering Inc (ALTR) Director Sells 8,000 Shares of Stock

Altair Engineering Inc (NASDAQ:ALTR) Director Jan Kowal sold 8,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $37.62, for a total transaction of $300,960.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

ALTR traded down $0.29 during trading hours on Thursday, hitting $38.27. 117,360 shares of the company’s stock were exchanged, compared to its average volume of 222,159. Altair Engineering Inc has a 12-month low of $25.28 and a 12-month high of $43.99. The company has a market cap of $2.72 billion, a P/E ratio of 103.43 and a beta of 1.63. The company has a quick ratio of 1.19, a current ratio of 1.21 and a debt-to-equity ratio of 0.11.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its stake in Altair Engineering by 11.4% during the 3rd quarter. Vanguard Group Inc. now owns 2,733,081 shares of the software’s stock worth $118,752,000 after buying an additional 280,056 shares during the period. Vanguard Group Inc increased its stake in Altair Engineering by 11.4% during the 3rd quarter. Vanguard Group Inc now owns 2,733,081 shares of the software’s stock worth $118,752,000 after buying an additional 280,056 shares during the period. BlackRock Inc. increased its stake in Altair Engineering by 15.3% during the 3rd quarter. BlackRock Inc. now owns 2,536,341 shares of the software’s stock worth $110,204,000 after buying an additional 337,323 shares during the period. Alliancebernstein L.P. increased its stake in Altair Engineering by 870.0% during the 3rd quarter. Alliancebernstein L.P. now owns 1,457,602 shares of the software’s stock worth $63,333,000 after buying an additional 1,307,332 shares during the period. Finally, Polar Capital LLP purchased a new stake in Altair Engineering during the 4th quarter worth approximately $20,295,000. 38.17% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities research analysts have recently issued reports on the stock. Needham & Company LLC boosted their price target on shares of Altair Engineering from $40.00 to $42.00 and gave the company a “buy” rating in a research note on Thursday. ValuEngine raised shares of Altair Engineering from a “hold” rating to a “buy” rating in a research note on Monday, February 4th. Finally, Zacks Investment Research raised shares of Altair Engineering from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a research note on Wednesday, January 9th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $38.57.

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About Altair Engineering

Altair Engineering Inc, together with its subsidiaries, provides software and cloud solutions worldwide. The company operates through two segments, Software and Client Engineering Services. Its integrated suite of multi-disciplinary computer aided engineering software optimizes design performance across various disciplines, including structures, motion, fluids, thermal management, electromagnetics, system modeling and embedded systems.

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