Insider Selling: Altair Engineering Inc. (NASDAQ:ALTR) Insider Sells $153,378.72 in Stock

Altair Engineering Inc. (NASDAQ:ALTR) insider Gilma Saravia sold 1,684 shares of the firm’s stock in a transaction on Friday, May 17th. The stock was sold at an average price of $91.08, for a total transaction of $153,378.72. Following the completion of the sale, the insider now owns 17,080 shares in the company, valued at approximately $1,555,646.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Altair Engineering Stock Down 0.1 %

Shares of NASDAQ ALTR opened at $90.65 on Thursday. The stock has a market cap of $7.53 billion, a PE ratio of 1,007.22, a PEG ratio of 11.51 and a beta of 1.42. The business has a fifty day moving average of $84.33 and a two-hundred day moving average of $81.80. Altair Engineering Inc. has a 52-week low of $57.59 and a 52-week high of $92.92. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.46 and a current ratio of 2.46.

Altair Engineering (NASDAQ:ALTR) last released its quarterly earnings results on Thursday, May 2nd. The software reported $0.40 earnings per share (EPS) 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 business had revenue of $172.91 million during the quarter, compared to analysts’ expectations of $169.29 million. During the same period in the previous year, the business posted $0.13 earnings per share. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. As a group, equities research analysts expect that Altair Engineering Inc. will post 0.66 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ALTR has been the topic of several research analyst reports. Royal Bank of Canada restated a “sector perform” rating and issued a $90.00 price objective on shares of Altair Engineering in a research note on Thursday, March 21st. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $88.00 target price on shares of Altair Engineering in a research report on Monday, April 29th. Oppenheimer raised their target price on Altair Engineering from $95.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. JPMorgan Chase & Co. raised their target price on Altair Engineering from $86.00 to $95.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 26th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 target price on shares of Altair Engineering in a research report on Friday, May 3rd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Altair Engineering presently has an average rating of “Moderate Buy” and an average price target of $94.60.

Institutional Trading of Altair Engineering

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. American International Group Inc. increased its position in Altair Engineering by 0.7% in the fourth quarter. American International Group Inc. now owns 27,018 shares of the software’s stock worth $2,274,000 after purchasing an additional 189 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in Altair Engineering by 10.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,991 shares of the software’s stock valued at $125,000 after acquiring an additional 190 shares in the last quarter. Natixis Advisors L.P. lifted its stake in Altair Engineering by 1.3% in the 4th quarter. Natixis Advisors L.P. now owns 17,333 shares of the software’s stock valued at $1,458,000 after acquiring an additional 229 shares in the last quarter. McGlone Suttner Wealth Management Inc. bought a new stake in Altair Engineering in the 4th quarter valued at approximately $31,000. Finally, New York Life Investment Management LLC lifted its stake in Altair Engineering by 6.7% in the 4th quarter. New York Life Investment Management LLC now owns 5,982 shares of the software’s stock valued at $503,000 after acquiring an additional 376 shares in 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.