Altair Engineering Inc. (NASDAQ:ALTR) Insider Sells $189,878.40 in Stock

Altair Engineering Inc. (NASDAQ:ALTR - Get Free Report) insider Jeffrey Marraccini sold 1,824 shares of Altair Engineering stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $104.10, for a total transaction of $189,878.40. Following the completion of the transaction, the insider now owns 4,680 shares in the company, 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 Securities & Exchange Commission, which can be accessed through this hyperlink.

Altair Engineering Stock Down 0.0 %

ALTR traded down $0.03 on Thursday, hitting $103.96. The company had a trading volume of 2,412,431 shares, compared to its average volume of 1,060,186. The stock has a fifty day simple moving average of $95.16 and a 200-day simple moving average of $92.09. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.27 and a quick ratio of 3.27. The firm has a market capitalization of $8.83 billion, a P/E ratio of 273.59, a P/E/G ratio of 13.28 and a beta of 1.44. Altair Engineering Inc. has a 52-week low of $67.64 and a 52-week high of $113.12.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. William Blair Investment Management LLC bought a new position in shares of Altair Engineering during the second quarter valued at $91,589,000. Bank of New York Mellon Corp raised 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 buying an additional 312,448 shares during the last quarter. Jane Street Group LLC lifted its stake in shares of 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 buying an additional 275,030 shares in the last quarter. Matrix Capital Management Company LP grew its holdings in shares of Altair Engineering by 1.6% during the first quarter. Matrix Capital Management Company LP now owns 12,430,000 shares of the software's stock valued at $1,070,844,000 after buying an additional 196,826 shares during the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Altair Engineering by 772.7% during the second quarter. Principal Financial Group Inc. now owns 212,560 shares of the software's stock valued at $20,848,000 after acquiring an additional 188,203 shares in the last quarter. Hedge funds and other institutional investors own 63.38% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. Wolfe Research lowered Altair Engineering from a "strong-buy" rating to a "hold" rating in a research note on Sunday. Loop Capital reissued a "hold" rating and issued a $113.00 price target on shares of Altair Engineering in a report on Thursday, October 31st. JPMorgan Chase & Co. downgraded shares of Altair Engineering from an "overweight" rating to a "neutral" rating and set a $95.00 price objective for the company. in a research note on Monday, July 15th. The Goldman Sachs Group cut Altair Engineering from a "neutral" rating to a "sell" rating and cut their target price for the stock from $85.00 to $71.00 in a research note on Friday, August 2nd. Finally, Royal Bank of Canada boosted their price target on Altair Engineering from $90.00 to $113.00 and gave the company a "sector perform" rating in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Altair Engineering currently has a consensus 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.