Altair Engineering Inc. (NASDAQ:ALTR) Director Teresa A. Harris Sells 2,700 Shares

Altair Engineering Inc. (NASDAQ:ALTR) Director Teresa A. Harris sold 2,700 shares of the business’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $111.61, for a total transaction of $301,347.00. Following the sale, the director now owns 18,542 shares in the company, valued at $2,069,472.62. The trade was a 12.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Altair Engineering Price Performance

Shares of NASDAQ ALTR opened at $111.60 on Friday. The firm’s 50-day moving average is $110.34 and its two-hundred day moving average is $102.36. The company has a market capitalization of $9.50 billion, a PE ratio of 656.47, a price-to-earnings-growth ratio of 10.75 and a beta of 1.42. Altair Engineering Inc. has a 12-month low of $75.71 and a 12-month high of $113.12.

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

Institutional Trading of Altair Engineering

Institutional investors and hedge funds have recently made changes to their positions in the stock. NBT Bank N A NY raised its stake in Altair Engineering by 76.4% in the 4th quarter. NBT Bank N A NY now owns 247 shares of the software’s stock valued at $27,000 after purchasing an additional 107 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Altair Engineering by 572.1% during the third quarter. Blue Trust Inc. now owns 289 shares of the software’s stock worth $28,000 after buying an additional 246 shares in the last quarter. UMB Bank n.a. grew its holdings in shares of Altair Engineering by 77.0% during the fourth quarter. UMB Bank n.a. now owns 285 shares of the software’s stock worth $31,000 after buying an additional 124 shares in the last quarter. Johnson Financial Group Inc. acquired a new position in shares of Altair Engineering in the fourth quarter valued at approximately $37,000. Finally, GAMMA Investing LLC lifted its stake in shares of Altair Engineering by 14.6% during the fourth quarter. GAMMA Investing LLC now owns 729 shares of the software’s stock valued at $80,000 after buying an additional 93 shares during the period. 63.38% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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.