Altair Engineering Inc. (NASDAQ:ALTR) CRO Nelson Dias Sells 22,500 Shares

Altair Engineering Inc. (NASDAQ:ALTR) CRO Nelson Dias sold 22,500 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $106.23, for a total transaction of $2,390,175.00. Following the completion of the transaction, the executive now owns 48,437 shares in the company, valued at approximately $5,145,462.51. The trade was a 31.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Altair Engineering Stock Performance

ALTR opened at $106.15 on Friday. Altair Engineering Inc. has a 12-month low of $72.33 and a 12-month high of $113.12. The firm has a market capitalization of $9.03 billion, a P/E ratio of 279.34, a price-to-earnings-growth ratio of 12.20 and a beta of 1.44. The stock’s 50 day moving average price is $102.60 and its two-hundred day moving average price is $95.48. The company has a quick ratio of 3.27, a current ratio of 3.27 and a debt-to-equity ratio of 0.27.

Wall Street Analyst Weigh In

ALTR has been the subject of a number of recent analyst reports. Loop Capital reissued a “hold” rating and issued a $113.00 price objective on shares of Altair Engineering in a report on Thursday, October 31st. Wolfe Research downgraded shares of Altair Engineering from a “strong-buy” rating to a “hold” rating in a report on Sunday, November 3rd. Needham & Company LLC reissued a “hold” rating and set a $100.00 target price on shares of Altair Engineering in a research note on Thursday, October 31st. Rosenblatt Securities upped their price target on shares of Altair Engineering from $88.00 to $113.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Finally, William Blair reissued a “market perform” rating on shares of Altair Engineering 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, Altair Engineering has a consensus rating of “Hold” and a consensus price target of $100.71.

Hedge Funds Weigh In On Altair Engineering

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its position in Altair Engineering by 572.1% in the third quarter. Blue Trust Inc. now owns 289 shares of the software’s stock worth $28,000 after purchasing an additional 246 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Altair Engineering by 52.2% during the 3rd quarter. GAMMA Investing LLC now owns 636 shares of the software’s stock worth $61,000 after acquiring an additional 218 shares during the period. FSC Wealth Advisors LLC boosted its position in shares of Altair Engineering by 41.3% during the 2nd quarter. FSC Wealth Advisors LLC now owns 832 shares of the software’s stock valued at $82,000 after acquiring an additional 243 shares in the last quarter. Van ECK Associates Corp increased its stake in Altair Engineering by 41.7% in the second quarter. Van ECK Associates Corp now owns 1,057 shares of the software’s stock valued at $104,000 after acquiring an additional 311 shares during the period. Finally, KBC Group NV raised its position in Altair Engineering by 17.9% in the third quarter. KBC Group NV now owns 1,640 shares of the software’s stock worth $157,000 after purchasing an additional 249 shares in the last quarter. 63.38% of the stock is currently owned by institutional investors.

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.