Insider Selling: Altair Engineering Inc. (NASDAQ:ALTR) CFO Sells $114,127.20 in Stock

Altair Engineering Inc. (NASDAQ:ALTR) CFO Matthew Charles Brown sold 1,048 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $108.90, for a total value of $114,127.20. Following the completion of the sale, the chief financial officer now directly owns 55,519 shares of the company’s stock, valued at $6,046,019.10. The trade was a 1.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Altair Engineering Stock Performance

NASDAQ ALTR opened at $109.01 on Friday. The company has a current ratio of 3.27, a quick ratio of 3.27 and a debt-to-equity ratio of 0.27. The business’s 50 day moving average is $105.45 and its two-hundred day moving average is $96.96. The stock has a market capitalization of $9.27 billion, a price-to-earnings ratio of 286.88, a PEG ratio of 12.16 and a beta of 1.44. Altair Engineering Inc. has a 12-month low of $75.71 and a 12-month high of $113.12.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. William Blair reiterated a “market perform” rating on shares of Altair Engineering in a research note on Thursday, October 31st. Needham & Company LLC reiterated a “hold” rating and set a $100.00 price target on shares of Altair Engineering in a research note on Thursday, October 31st. Loop Capital restated a “hold” rating and issued a $113.00 price objective on shares of Altair Engineering in a research note on Thursday, October 31st. Rosenblatt Securities raised their price target on Altair Engineering from $88.00 to $113.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, Wolfe Research downgraded Altair Engineering from a “strong-buy” rating to a “hold” rating in a research note on Sunday, November 3rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Altair Engineering has an average rating of “Hold” and an average price target of $100.71.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ALTR. Conestoga Capital Advisors LLC boosted its position in shares of Altair Engineering by 1.4% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 2,522,551 shares of the software’s stock worth $240,929,000 after purchasing an additional 33,985 shares in the last quarter. State Street Corp boosted its holdings in Altair Engineering by 3.3% during the third quarter. State Street Corp now owns 2,053,957 shares of the software’s stock worth $196,173,000 after buying an additional 65,589 shares in the last quarter. Geode Capital Management LLC grew its position in Altair Engineering by 3.9% during the third quarter. Geode Capital Management LLC now owns 1,423,880 shares of the software’s stock worth $136,020,000 after buying an additional 53,088 shares during the period. William Blair Investment Management LLC purchased a new position in Altair Engineering in the second quarter valued at about $91,589,000. Finally, Bank of New York Mellon Corp lifted its position in shares of Altair Engineering by 121.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 569,109 shares of the software’s stock valued at $55,818,000 after acquiring an additional 312,448 shares during the period. Institutional investors and hedge funds own 63.38% of the company’s stock.

About Altair Engineering

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.