Altair Engineering Inc. (NASDAQ:ALTR) Insider Jeffrey Marraccini Sells 1,824 Shares

Altair Engineering Inc. (NASDAQ:ALTR) insider Jeffrey Marraccini sold 1,824 shares of the business’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $104.10, for a total transaction of $189,878.40. Following the completion of the sale, the insider now directly owns 4,680 shares of the company’s stock, valued at approximately $487,188. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Altair Engineering Trading Down 0.3 %

NASDAQ ALTR opened at $103.65 on Friday. The business’s 50-day moving average price is $95.72 and its two-hundred day moving average price is $92.38. Altair Engineering Inc. has a 12 month low of $68.25 and a 12 month high of $113.12. The firm has a market capitalization of $8.82 billion, a PE ratio of 272.77, a price-to-earnings-growth ratio of 11.95 and a beta of 1.44. The company has a current ratio of 3.27, a quick ratio of 3.27 and a debt-to-equity ratio of 0.27.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ALTR shares. William Blair reaffirmed a “market perform” rating on shares of Altair Engineering in a research report on Thursday, October 31st. Royal Bank of Canada upped their price objective on shares of Altair Engineering from $90.00 to $113.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 31st. Needham & Company LLC reaffirmed a “hold” rating and set a $100.00 price objective on shares of Altair Engineering in a research report on Thursday, October 31st. Loop Capital reissued a “hold” rating and issued a $113.00 target price on shares of Altair Engineering in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. cut shares of Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 target price for the company. in a report on Monday, July 15th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Altair Engineering has a consensus rating of “Hold” and an average target price of $100.71.

Institutional Investors Weigh In On Altair Engineering

A number of institutional investors have recently made changes to their positions in ALTR. William Blair Investment Management LLC bought a new stake in shares of Altair Engineering during the 2nd quarter valued at about $91,589,000. Bank of New York Mellon Corp boosted its holdings in Altair Engineering by 121.7% in the second quarter. Bank of New York Mellon Corp now owns 569,109 shares of the software’s stock worth $55,818,000 after acquiring an additional 312,448 shares in the last quarter. Jane Street Group LLC boosted its holdings in Altair Engineering by 960.2% in the first quarter. Jane Street Group LLC now owns 303,672 shares of the software’s stock worth $26,161,000 after acquiring an additional 275,030 shares in the last quarter. Matrix Capital Management Company LP boosted its holdings in Altair Engineering by 1.6% in the first quarter. Matrix Capital Management Company LP now owns 12,430,000 shares of the software’s stock worth $1,070,844,000 after acquiring an additional 196,826 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in Altair Engineering by 772.7% in the second quarter. Principal Financial Group Inc. now owns 212,560 shares of the software’s stock worth $20,848,000 after acquiring an additional 188,203 shares in the last quarter. Institutional investors own 63.38% of the company’s stock.

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.