Altair Engineering Inc. (NASDAQ:ALTR) Insider Ravi Kunju Sells 360 Shares

Altair Engineering Inc. (NASDAQ:ALTR) insider Ravi Kunju sold 360 shares of the firm’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $103.65, for a total transaction of $37,314.00. Following the transaction, the insider now directly owns 30,305 shares in the company, valued at $3,141,113.25. The trade was a 1.17 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website.

Altair Engineering Trading Down 0.1 %

NASDAQ:ALTR opened at $103.72 on Friday. The stock has a market capitalization of $8.82 billion, a price-to-earnings ratio of 272.95, a PEG ratio of 11.93 and a beta of 1.44. Altair Engineering Inc. has a 1 year low of $68.87 and a 1 year high of $113.12. The stock has a fifty day moving average price of $97.02 and a two-hundred day moving average price of $92.89. The company has a debt-to-equity ratio of 0.27, a quick ratio of 3.27 and a current ratio of 3.27.

Hedge Funds Weigh In On Altair Engineering

Large investors have recently made changes to their positions in the stock. Blue Trust Inc. increased its holdings in Altair Engineering by 572.1% in the third quarter. Blue Trust Inc. now owns 289 shares of the software’s stock valued at $28,000 after buying an additional 246 shares in the last quarter. GAMMA Investing LLC raised its holdings in Altair Engineering by 81.7% during the second quarter. GAMMA Investing LLC now owns 418 shares of the software’s stock worth $41,000 after purchasing an additional 188 shares during the last quarter. FSC Wealth Advisors LLC boosted its position in Altair Engineering by 41.3% during the second quarter. FSC Wealth Advisors LLC now owns 832 shares of the software’s stock worth $82,000 after purchasing an additional 243 shares in the last quarter. Van ECK Associates Corp grew its holdings in Altair Engineering by 41.7% in the second quarter. Van ECK Associates Corp now owns 1,057 shares of the software’s stock valued at $104,000 after purchasing an additional 311 shares during the last quarter. Finally, KBC Group NV increased its position in shares of Altair Engineering by 17.9% in the third quarter. KBC Group NV now owns 1,640 shares of the software’s stock valued at $157,000 after buying an additional 249 shares in the last quarter. Hedge funds and other institutional investors own 63.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on ALTR shares. Royal Bank of Canada raised their price target on Altair Engineering from $90.00 to $113.00 and gave the stock a “sector perform” rating in a report on Thursday, October 31st. Loop Capital reiterated a “hold” rating and issued a $113.00 target price on shares of Altair Engineering in a research note on Thursday, October 31st. William Blair restated a “market perform” rating on shares of Altair Engineering in a research note on Thursday, October 31st. The Goldman Sachs Group cut shares of Altair Engineering from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $85.00 to $71.00 in a research note on Friday, August 2nd. Finally, Rosenblatt Securities raised their target price on shares of Altair Engineering from $88.00 to $113.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $100.71.

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.