Insider Selling: Altair Engineering Inc. (NASDAQ:ALTR) Director Sells $49,986.00 in Stock

Altair Engineering Inc. (NASDAQ:ALTR) Director Teresa A. Harris sold 450 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was 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 in the company, valued at $2,009,659.36. This represents a 2.43 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Altair Engineering Stock Performance

ALTR opened at $111.24 on Friday. The company’s 50 day simple moving average is $110.57 and its 200 day simple moving average is $103.10. Altair Engineering Inc. has a 1 year low of $75.71 and a 1 year high of $113.12. The stock has a market capitalization of $9.54 billion, a PE ratio of 654.35, a P/E/G ratio of 10.75 and a beta of 1.45.

Altair Engineering (NASDAQ:ALTR) last announced its quarterly earnings results on Thursday, February 20th. The software reported $0.36 earnings per share 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 analyst estimates of $182.98 million. Altair Engineering had a net margin of 2.13% and a return on equity of 8.08%. As a group, sell-side analysts expect that Altair Engineering Inc. will post 0.87 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ALTR. Needham & Company LLC reaffirmed a “hold” rating on shares of Altair Engineering in a research note on Friday, February 21st. Rosenblatt Securities reissued a “neutral” rating and issued a $113.00 target price on shares of Altair Engineering in a research report on Monday, February 24th. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $100.83.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Polar Asset Management Partners Inc. acquired a new position in Altair Engineering during the fourth quarter valued at approximately $5,456,000. GTS Securities LLC acquired a new position in Altair Engineering during the fourth quarter valued at approximately $201,000. BCK Capital Management LP acquired a new position in Altair Engineering during the fourth quarter valued at approximately $1,506,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Altair Engineering by 201.0% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 381,061 shares of the software’s stock valued at $41,578,000 after buying an additional 254,448 shares in the last quarter. Finally, Voloridge Investment Management LLC acquired a new position in Altair Engineering during the fourth quarter valued at approximately $4,580,000. 63.38% of the stock is owned by institutional investors and hedge funds.

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.