Altair Engineering Inc. (NASDAQ:ALTR) Director Teresa A. Harris Sells 620 Shares

Altair Engineering Inc. (NASDAQ:ALTR) Director Teresa A. Harris sold 620 shares of the business’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $82.89, for a total transaction of $51,391.80. Following the transaction, the director now owns 18,895 shares in the company, valued at $1,566,206.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Altair Engineering Stock Down 1.0 %

ALTR stock opened at $85.20 on Thursday. The company has a market cap of $7.03 billion, a P/E ratio of 946.67, a price-to-earnings-growth ratio of 10.86 and a beta of 1.42. The stock’s 50 day simple moving average is $83.21 and its 200 day simple moving average is $79.84. 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 Inc. has a fifty-two week low of $57.59 and a fifty-two week high of $92.92.

Altair Engineering (NASDAQ:ALTR) last posted its earnings results on Thursday, May 2nd. The software reported $0.40 EPS for the quarter, topping the consensus estimate of $0.34 by $0.06. The firm had revenue of $172.91 million for the quarter, compared to analysts’ expectations of $169.29 million. Altair Engineering had a net margin of 1.55% and a return on equity of 5.60%. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.13 EPS. On average, research analysts expect that Altair Engineering Inc. will post 0.63 earnings per share for the current fiscal year.

Institutional Trading of Altair Engineering

Institutional investors have recently added to or reduced their stakes in the stock. McGlone Suttner Wealth Management Inc. bought a new position in shares of Altair Engineering in the 4th quarter worth $31,000. EdgeRock Capital LLC purchased a new position in Altair Engineering during the fourth quarter valued at $33,000. Harvest Fund Management Co. Ltd boosted its stake in Altair Engineering by 1,157.7% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 981 shares of the software’s stock worth $83,000 after acquiring an additional 903 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its position in shares of Altair Engineering by 10.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,991 shares of the software’s stock worth $125,000 after purchasing an additional 190 shares in the last quarter. Finally, SG Americas Securities LLC grew its stake in shares of Altair Engineering by 31.3% in the third quarter. SG Americas Securities LLC now owns 2,171 shares of the software’s stock worth $136,000 after acquiring an additional 518 shares during the last quarter. Hedge funds and other institutional investors own 63.38% of the company’s stock.

Analyst Ratings Changes

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

About Altair Engineering

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.