Insider Selling: Altair Engineering Inc. (NASDAQ:ALTR) Insider Sells $24,858.00 in Stock

Altair Engineering Inc. (NASDAQ:ALTR) insider Ravi Kunju sold 360 shares of the stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $69.05, for a total value of $24,858.00. Following the completion of the sale, the insider now directly owns 29,272 shares of the company’s stock, valued at approximately $2,021,231.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Altair Engineering Trading Down 0.5 %

ALTR opened at $73.96 on Thursday. Altair Engineering Inc. has a 52 week low of $43.68 and a 52 week high of $78.49. The business has a fifty day simple moving average of $64.49 and a 200-day simple moving average of $68.28. The firm has a market cap of $6.04 billion, a P/E ratio of -352.17, a P/E/G ratio of 18.04 and a beta of 1.44. The company has a quick ratio of 1.99, a current ratio of 1.99 and a debt-to-equity ratio of 0.36.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ALTR. Rosenblatt Securities reaffirmed a “buy” rating and issued a $74.00 price target on shares of Altair Engineering in a report on Tuesday, August 29th. Needham & Company LLC reaffirmed a “buy” rating and issued a $77.00 price target on shares of Altair Engineering in a report on Friday, August 4th. Finally, Royal Bank of Canada raised their target price on Altair Engineering from $71.00 to $74.00 and gave the stock a “sector perform” rating in a research note on Friday, August 4th. Two investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $73.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Bain Capital Public Equity Management II LLC purchased a new position in shares of Altair Engineering during the first quarter worth $11,234,000. Arizona State Retirement System boosted its holdings in Altair Engineering by 3.1% in the first quarter. Arizona State Retirement System now owns 15,182 shares of the software’s stock valued at $1,095,000 after purchasing an additional 452 shares during the period. Acadian Asset Management LLC purchased a new position in Altair Engineering in the first quarter valued at $758,000. Virtu Financial LLC purchased a new position in Altair Engineering in the first quarter valued at $345,000. Finally, Raymond James Trust N.A. purchased a new position in Altair Engineering in the first quarter valued at $218,000. 63.38% of the stock is currently owned by hedge funds and other institutional investors.

Altair Engineering Company Profile

Altair Engineering Inc, together with its subsidiaries, provides software and cloud solutions in the areas of simulation, high-performance computing, data analytics, and artificial intelligence in the United States and internationally. The company operates in two segments: Software and Client Engineering Services.