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

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

Shares of ALTR traded down $0.29 on Thursday, reaching $38.27. 117,360 shares of the company’s stock traded hands, compared to its average volume of 222,159. The company has a current ratio of 1.21, a quick ratio of 1.19 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $2.72 billion, a price-to-earnings ratio of 103.43 and a beta of 1.63. Altair Engineering Inc has a 52-week low of $25.28 and a 52-week high of $43.99.

Several institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Altair Engineering by 11.4% in the 3rd quarter. Vanguard Group Inc. now owns 2,733,081 shares of the software’s stock worth $118,752,000 after purchasing an additional 280,056 shares in the last quarter. Vanguard Group Inc raised its holdings in shares of Altair Engineering by 11.4% during the third quarter. Vanguard Group Inc now owns 2,733,081 shares of the software’s stock worth $118,752,000 after purchasing an additional 280,056 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Altair Engineering by 15.3% during the third quarter. BlackRock Inc. now owns 2,536,341 shares of the software’s stock worth $110,204,000 after purchasing an additional 337,323 shares during the last quarter. Alliancebernstein L.P. raised its holdings in shares of Altair Engineering by 870.0% during the third quarter. Alliancebernstein L.P. now owns 1,457,602 shares of the software’s stock worth $63,333,000 after purchasing an additional 1,307,332 shares during the last quarter. Finally, Polar Capital LLP purchased a new position in shares of Altair Engineering during the fourth quarter worth $20,295,000. 38.17% of the stock is owned by institutional investors.

Several analysts have recently commented on ALTR shares. Zacks Investment Research downgraded Altair Engineering from a “buy” rating to a “hold” rating in a research note on Monday, November 26th. ValuEngine downgraded Altair Engineering from a “buy” rating to a “hold” rating in a research note on Tuesday, November 20th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $40.00 price objective on shares of Altair Engineering in a research note on Friday, March 1st. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus 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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Insider Buying and Selling by Quarter for Altair Engineering (NASDAQ:ALTR)

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