Altair Engineering Inc. (NASDAQ:ALTR - Get Free Report) insider Ravi Kunju sold 120 shares of Altair Engineering stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $111.53, for a total value of $13,383.60. Following the completion of the transaction, the insider now directly owns 34,738 shares in the company, valued at $3,874,329.14. This represents a 0.34 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Altair Engineering Price Performance
Altair Engineering stock traded down $0.17 during midday trading on Monday, hitting $111.43. 1,125,589 shares of the stock were exchanged, compared to its average volume of 779,175. Altair Engineering Inc. has a 1 year low of $75.71 and a 1 year high of $113.12. The firm has a market cap of $9.48 billion, a P/E ratio of 655.47, a P/E/G ratio of 10.75 and a beta of 1.42. The company has a 50 day moving average price of $110.39 and a two-hundred day moving average price of $102.59.
Altair Engineering (NASDAQ:ALTR - Get Free Report) last announced its earnings results on Thursday, February 20th. The software reported $0.36 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.51 by ($0.15). The business had revenue of $192.63 million for the quarter, compared to analysts' expectations of $182.98 million. Altair Engineering had a return on equity of 8.08% and a net margin of 2.13%. As a group, analysts predict that Altair Engineering Inc. will post 0.87 EPS for the current year.
Hedge Funds Weigh In On Altair Engineering
Institutional investors have recently made changes to their positions in the business. NBT Bank N A NY grew its position in shares of Altair Engineering by 76.4% during the fourth quarter. NBT Bank N A NY now owns 247 shares of the software's stock worth $27,000 after buying an additional 107 shares in the last quarter. UMB Bank n.a. grew its holdings in Altair Engineering by 77.0% during the 4th quarter. UMB Bank n.a. now owns 285 shares of the software's stock worth $31,000 after acquiring an additional 124 shares in the last quarter. Blue Trust Inc. increased its position in shares of Altair Engineering by 572.1% in the 3rd quarter. Blue Trust Inc. now owns 289 shares of the software's stock worth $28,000 after purchasing an additional 246 shares during the last quarter. Johnson Financial Group Inc. bought a new stake in shares of Altair Engineering in the 4th quarter worth about $37,000. Finally, GAMMA Investing LLC raised its stake in shares of Altair Engineering by 14.6% in the 4th quarter. GAMMA Investing LLC now owns 729 shares of the software's stock valued at $80,000 after purchasing an additional 93 shares in the last quarter. 63.38% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities analysts have recently commented on ALTR shares. Rosenblatt Securities reissued a "neutral" rating and issued a $113.00 target price on shares of Altair Engineering in a research note on Monday, February 24th. Needham & Company LLC reissued a "hold" rating on shares of Altair Engineering in a research report on Friday, February 21st. Finally, Wolfe Research cut Altair Engineering from a "strong-buy" rating to a "hold" rating in a research note on Sunday, November 3rd. One analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. According to data from MarketBeat, Altair Engineering currently has a consensus rating of "Hold" and an average target price of $100.83.
View Our Latest Research Report on Altair Engineering
About Altair Engineering
(
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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.
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