Altair Engineering Inc. (NASDAQ:ALTR) Director Teresa A. Harris Sells 620 Shares

Altair Engineering Inc. (NASDAQ:ALTRGet Free Report) Director Teresa A. Harris sold 620 shares of the company’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $84.00, for a total transaction of $52,080.00. Following the transaction, the director now owns 18,895 shares in the company, valued at $1,587,180. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Altair Engineering Stock Performance

Shares of ALTR stock opened at $83.67 on Thursday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.16 and a current ratio of 2.16. The company has a market capitalization of $6.90 billion, a P/E ratio of -643.62, a price-to-earnings-growth ratio of 11.94 and a beta of 1.42. The company’s 50 day moving average price is $85.65 and its two-hundred day moving average price is $76.52. Altair Engineering Inc. has a 52 week low of $57.59 and a 52 week high of $92.92.

Altair Engineering (NASDAQ:ALTRGet Free Report) last announced its earnings results on Thursday, February 22nd. The software reported $0.29 EPS for the quarter, topping the consensus estimate of $0.22 by $0.07. The firm had revenue of $171.50 million for the quarter, compared to the consensus estimate of $172.48 million. Altair Engineering had a negative net margin of 1.46% and a positive return on equity of 3.77%. On average, analysts expect that Altair Engineering Inc. will post 0.6 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ALTR shares. JPMorgan Chase & Co. upped their target price on shares of Altair Engineering from $86.00 to $95.00 and gave the company an “overweight” rating in a research report on Tuesday, March 26th. Rosenblatt Securities restated a “neutral” rating and set a $88.00 target price (up from $74.00) on shares of Altair Engineering in a research report on Friday, February 23rd. Royal Bank of Canada restated a “sector perform” rating and set a $90.00 target price on shares of Altair Engineering in a research report on Thursday, March 21st. Needham & Company LLC restated a “buy” rating and set a $100.00 target price on shares of Altair Engineering in a research report on Monday, March 25th. Finally, Oppenheimer upped their target price on shares of Altair Engineering from $95.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, February 23rd. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Altair Engineering presently has an average rating of “Moderate Buy” and a consensus target price of $88.71.

Read Our Latest Stock Analysis on Altair Engineering

Institutional Trading of Altair Engineering

Hedge funds have recently bought and sold shares of the stock. McGlone Suttner Wealth Management Inc. acquired a new stake in Altair Engineering during the 4th quarter worth approximately $31,000. EdgeRock Capital LLC bought a new position in shares of Altair Engineering during the 4th quarter worth approximately $33,000. UBS Group AG grew its stake in shares of Altair Engineering by 48.7% during the 4th quarter. UBS Group AG now owns 938 shares of the software’s stock worth $43,000 after acquiring an additional 307 shares in the last quarter. Harvest Fund Management Co. Ltd grew its stake in shares of Altair Engineering by 1,157.7% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 981 shares of the software’s stock worth $83,000 after acquiring an additional 903 shares in the last quarter. Finally, KBC Group NV bought a new position in shares of Altair Engineering during the 4th quarter worth approximately $96,000. 63.38% of the stock is currently owned by institutional investors and hedge funds.

Altair Engineering Company Profile

(Get Free Report)

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.

Featured Articles

Insider Buying and Selling by Quarter for Altair Engineering (NASDAQ:ALTR)

Receive News & Ratings for Altair Engineering Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Altair Engineering and related companies with MarketBeat.com's FREE daily email newsletter.