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 stock in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $95.12, for a total transaction of $58,974.40. Following the sale, the director now directly owns 21,242 shares of the company’s stock, valued at $2,020,539.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Altair Engineering Stock Performance

NASDAQ:ALTR traded down $3.73 during trading hours on Tuesday, hitting $91.78. 296,818 shares of the company were exchanged, compared to its average volume of 472,708. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.14 and a quick ratio of 3.14. Altair Engineering Inc. has a 52-week low of $57.59 and a 52-week high of $101.39. The stock has a market capitalization of $7.62 billion, a price-to-earnings ratio of 1,019.78, a PEG ratio of 12.01 and a beta of 1.45. The company’s 50 day moving average price is $89.13 and its 200-day moving average price is $89.22.

Altair Engineering (NASDAQ:ALTR) last announced its quarterly earnings data on Thursday, August 1st. The software reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. The firm had revenue of $148.80 million for the quarter, compared to analyst estimates of $146.88 million. Altair Engineering had a net margin of 4.26% and a return on equity of 6.89%. The business’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.15) earnings per share. As a group, research analysts forecast that Altair Engineering Inc. will post 0.65 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ALTR shares. The Goldman Sachs Group lowered shares of Altair Engineering from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $85.00 to $71.00 in a research note on Friday, August 2nd. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price target on shares of Altair Engineering in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. lowered Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 price objective for the company. in a report on Monday, July 15th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Altair Engineering has a consensus rating of “Hold” and a consensus price target of $90.67.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ALTR. Matrix Capital Management Company LP increased its holdings in Altair Engineering by 1.6% in the 1st quarter. Matrix Capital Management Company LP now owns 12,430,000 shares of the software’s stock worth $1,070,844,000 after buying an additional 196,826 shares during the period. Vanguard Group Inc. lifted its position in Altair Engineering by 3.2% during the first quarter. Vanguard Group Inc. now owns 5,944,285 shares of the software’s stock valued at $512,100,000 after purchasing an additional 182,840 shares during the period. Conestoga Capital Advisors LLC boosted its holdings in Altair Engineering by 2.0% in the second quarter. Conestoga Capital Advisors LLC now owns 2,488,566 shares of the software’s stock valued at $244,079,000 after purchasing an additional 48,485 shares during the last quarter. Wellington Management Group LLP grew its position in Altair Engineering by 97.3% during the 4th quarter. Wellington Management Group LLP now owns 1,182,339 shares of the software’s stock worth $99,494,000 after purchasing an additional 583,127 shares during the period. Finally, William Blair Investment Management LLC purchased a new position in shares of Altair Engineering during the 2nd quarter valued at about $91,589,000. 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 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.