Insider Selling: Altair Engineering Inc. (NASDAQ:ALTR) Insider Sells 847 Shares of Stock

Altair Engineering Inc. (NASDAQ:ALTR – Get Rating) insider Raoul Maitra sold 847 shares of the stock in a transaction on Friday, May 26th. The shares were sold at an average price of $72.70, for a total value of $61,576.90. Following the completion of the sale, the insider now owns 23,144 shares of the company’s stock, valued at approximately $1,682,568.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Raoul Maitra also recently made the following trade(s):

• On Tuesday, February 28th, Raoul Maitra sold 2,500 shares of Altair Engineering stock. The shares were sold at an average price of $64.53, for a total value of $161,325.00.

Altair Engineering Stock Performance

Shares of NASDAQ:ALTR traded up $2.60 during midday trading on Friday, hitting $74.86. The company’s stock had a trading volume of 282,162 shares, compared to its average volume of 299,730. The stock has a market capitalization of $6.04 billion, a price-to-earnings ratio of -101.33, a PEG ratio of 26.99 and a beta of 1.50. The stock’s 50 day simple moving average is $69.62 and its 200 day simple moving average is $58.36. Altair Engineering Inc. has a fifty-two week low of $43.17 and a fifty-two week high of $74.92. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.83 and a current ratio of 1.83.

Altair Engineering (NASDAQ:ALTR – Get Rating) last issued its quarterly earnings results on Thursday, February 23rd. The software reported $0.14 earnings per share (EPS) for the quarter. The company had revenue of $160.43 million for the quarter, compared to the consensus estimate of $146.01 million. Altair Engineering had a negative return on equity of 0.23% and a negative net margin of 9.84%. As a group, research analysts anticipate that Altair Engineering Inc. will post 0.22 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on ALTR. Rosenblatt Securities increased their price objective on Altair Engineering from $63.00 to $67.00 and gave the stock a “buy” rating in a report on Friday, February 24th. The Goldman Sachs Group upgraded Altair Engineering from a “sell” rating to a “neutral” rating and raised their target price for the company from $44.00 to $67.00 in a report on Friday, May 5th. 51job restated a “maintains” rating on shares of Altair Engineering in a report on Friday, May 5th. Loop Capital raised their target price on Altair Engineering from $70.00 to $81.00 and gave the company a “buy” rating in a report on Tuesday, April 18th. Finally, Needham & Company LLC raised their target price on Altair Engineering from $70.00 to $77.00 in a report on Monday, May 8th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $71.17.

Institutional Investors Weigh In On Altair Engineering

Several hedge funds and other institutional investors have recently made changes to their positions in the business. UBS Group AG increased its stake in Altair Engineering by 48.7% during the fourth quarter. UBS Group AG now owns 938 shares of the software’s stock valued at $43,000 after acquiring an additional 307 shares during the period. Global Retirement Partners LLC increased its position in shares of Altair Engineering by 91.6% during the first quarter. Global Retirement Partners LLC now owns 801 shares of the software’s stock valued at $54,000 after purchasing an additional 383 shares during the period. Harvest Fund Management Co. Ltd increased its position in shares of Altair Engineering by 138.6% during the first quarter. Harvest Fund Management Co. Ltd now owns 1,348 shares of the software’s stock valued at $97,000 after purchasing an additional 783 shares during the period. Counterpoint Mutual Funds LLC bought a new stake in shares of Altair Engineering during the fourth quarter valued at approximately $123,000. Finally, Prudential Financial Inc. increased its position in shares of Altair Engineering by 12.0% during the second quarter. Prudential Financial Inc. now owns 3,875 shares of the software’s stock valued at $202,000 after purchasing an additional 415 shares during the period. 61.66% of the stock is owned by institutional investors and hedge funds.

About Altair Engineering

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Altair Engineering, Inc engages in the provision of software and cloud solutions for product design & development, high performance cloud computing, and data intelligence. It operates through the following segments: Software and Client Engineering Services. The Software segment includes a portfolio of software products, as well as solvers and optimization technology products, modelling and visualization tools.