Teresa A. Harris Sells 450 Shares of Altair Engineering Inc. (NASDAQ:ALTR) Stock

Altair Engineering Inc. (NASDAQ:ALTR - Get Free Report) Director Teresa A. Harris sold 450 shares of Altair Engineering stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $111.08, for a total transaction of $49,986.00. Following the sale, the director now directly owns 18,092 shares of the company's stock, valued at $2,009,659.36. This represents a 2.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Altair Engineering Stock Down 0.1 %

Shares of NASDAQ:ALTR traded down $0.15 during midday trading on Monday, reaching $111.09. The company's stock had a trading volume of 653,902 shares, compared to its average volume of 640,318. The firm has a market capitalization of $9.53 billion, a PE ratio of 653.47, a P/E/G ratio of 10.75 and a beta of 1.45. The stock has a fifty day moving average of $110.57 and a 200 day moving average of $103.19. Altair Engineering Inc. has a twelve month low of $75.71 and a twelve month high of $113.12.

Altair Engineering (NASDAQ:ALTR - Get Free Report) last announced its quarterly earnings results on Thursday, February 20th. The software reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.15). Altair Engineering had a net margin of 2.13% and a return on equity of 8.08%. The company had revenue of $192.63 million for the quarter, compared to analysts' expectations of $182.98 million. Sell-side analysts anticipate that Altair Engineering Inc. will post 0.87 earnings per share for the current fiscal year.

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Institutional Trading of Altair Engineering

A number of hedge funds have recently added to or reduced their stakes in the company. Private Advisor Group LLC purchased a new stake in shares of Altair Engineering during the 3rd quarter worth about $208,000. State of Alaska Department of Revenue boosted its position in Altair Engineering by 11.5% during the third quarter. State of Alaska Department of Revenue now owns 6,900 shares of the software's stock worth $659,000 after purchasing an additional 710 shares in the last quarter. New York State Teachers Retirement System grew its holdings in Altair Engineering by 1.2% in the third quarter. New York State Teachers Retirement System now owns 8,500 shares of the software's stock valued at $812,000 after purchasing an additional 100 shares during the period. US Bancorp DE increased its position in shares of Altair Engineering by 19.6% in the third quarter. US Bancorp DE now owns 6,572 shares of the software's stock valued at $628,000 after buying an additional 1,078 shares in the last quarter. Finally, Harbor Capital Advisors Inc. raised its stake in shares of Altair Engineering by 2.9% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 10,017 shares of the software's stock worth $957,000 after buying an additional 279 shares during the period. 63.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ALTR has been the topic of a number of recent research reports. Rosenblatt Securities reaffirmed a "neutral" rating and set a $113.00 price objective on shares of Altair Engineering in a research report on Monday, February 24th. Needham & Company LLC reiterated a "hold" rating on shares of Altair Engineering in a research note on Friday, February 21st. One equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $100.83.

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.