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

Altair Engineering Inc. (NASDAQ:ALTR - Get Free Report) CFO Matthew Charles Brown sold 1,048 shares of the firm's stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $108.90, for a total value of $114,127.20. Following the sale, the chief financial officer now directly owns 55,519 shares of the company's stock, valued at $6,046,019.10. This represents a 1.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Altair Engineering Stock Up 0.1 %

Altair Engineering stock traded up $0.08 during mid-day trading on Thursday, reaching $109.10. 313,375 shares of the company were exchanged, compared to its average volume of 603,468. The company has a debt-to-equity ratio of 0.27, a quick ratio of 3.27 and a current ratio of 3.27. The firm has a market cap of $9.28 billion, a P/E ratio of 287.11, a PEG ratio of 12.16 and a beta of 1.44. The business has a fifty day moving average of $105.18 and a 200 day moving average of $96.83. Altair Engineering Inc. has a 12-month low of $75.71 and a 12-month high of $113.12.

Hedge Funds Weigh In On Altair Engineering

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. William Blair Investment Management LLC purchased a new position in shares of Altair Engineering in the 2nd quarter worth approximately $91,589,000. Bank of New York Mellon Corp grew 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 purchasing an additional 312,448 shares during the last quarter. 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 worth $20,848,000 after purchasing an additional 188,203 shares in the last quarter. Great Lakes Advisors LLC purchased a new stake in shares of Altair Engineering during the 2nd quarter valued at $13,343,000. Finally, Candriam S.C.A. grew its stake in Altair Engineering by 28.9% during the 2nd quarter. Candriam S.C.A. now owns 560,565 shares of the software's stock worth $54,978,000 after buying an additional 125,816 shares during the last quarter. Hedge funds and other institutional investors own 63.38% of the company's stock.

Wall Street Analyst Weigh In

ALTR has been the topic of a number of recent analyst reports. Wolfe Research lowered Altair Engineering from a "strong-buy" rating to a "hold" rating in a research note on Sunday, November 3rd. William Blair reiterated a "market perform" rating on shares of Altair Engineering in a report on Thursday, October 31st. Needham & Company LLC restated a "hold" rating and issued a $100.00 target price on shares of Altair Engineering in a research note on Thursday, October 31st. Loop Capital reaffirmed a "hold" rating and set a $113.00 price target on shares of Altair Engineering in a research note on Thursday, October 31st. Finally, Rosenblatt Securities increased their price objective on Altair Engineering from $88.00 to $113.00 and gave the stock a "neutral" rating in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $100.71.

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.