Insider Selling: Altair Engineering Inc. (NASDAQ:ALTR) CRO Sells $23,812.32 in Stock

Posted by on Mar 6th, 2023

Altair Engineering Inc. (NASDAQ:ALTR – Get Rating) CRO Nelson Dias sold 373 shares of the stock in a transaction on Wednesday, March 1st. The stock was sold at an average price of $63.84, for a total transaction of $23,812.32. Following the transaction, the executive now owns 29,751 shares of the company’s stock, valued at approximately $1,899,303.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Altair Engineering Stock Performance

Shares of NASDAQ:ALTR opened at $65.73 on Monday. The company’s 50 day moving average price is $53.52 and its two-hundred day moving average price is $49.87. Altair Engineering Inc. has a 12-month low of $43.17 and a 12-month high of $66.97. The firm has a market cap of $5.26 billion, a PE ratio of -113.33, a PEG ratio of 78.25 and a beta of 1.45. The company has a quick ratio of 2.35, a current ratio of 2.26 and a debt-to-equity ratio of 0.54.

Analyst Ratings Changes

ALTR has been the topic of a number of research analyst reports. The Goldman Sachs Group upped their target price on shares of Altair Engineering from $39.00 to $44.00 and gave the company a “sell” rating in a report on Monday, February 27th. Rosenblatt Securities upped their target price on shares of Altair Engineering from $63.00 to $67.00 and gave the company a “buy” rating in a report on Friday, February 24th. Oppenheimer upped their target price on shares of Altair Engineering from $60.00 to $65.00 and gave the company an “outperform” rating in a report on Friday, February 24th. Loop Capital upped their target price on shares of Altair Engineering from $60.00 to $70.00 in a report on Friday, February 24th. Finally, TheStreet raised shares of Altair Engineering from a “d+” rating to a “c” rating in a report on Friday, February 24th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $64.33.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Impax Asset Management Group plc grew its position in shares of Altair Engineering by 14.8% during the 3rd quarter. Impax Asset Management Group plc now owns 2,429,397 shares of the software’s stock worth $106,842,000 after purchasing an additional 312,662 shares in the last quarter. Great West Life Assurance Co. Can acquired a new stake in shares of Altair Engineering during the 3rd quarter worth approximately $422,000. Needham Investment Management LLC boosted its position in shares of Altair Engineering by 55.0% during the 2nd quarter. Needham Investment Management LLC now owns 15,500 shares of the software’s stock worth $814,000 after acquiring an additional 5,500 shares in the last quarter. YorkBridge Wealth Partners LLC boosted its position in shares of Altair Engineering by 23.9% during the 3rd quarter. YorkBridge Wealth Partners LLC now owns 4,852 shares of the software’s stock worth $215,000 after acquiring an additional 935 shares in the last quarter. Finally, Matrix Capital Management Company LP boosted its position in shares of Altair Engineering by 8.1% during the 2nd quarter. Matrix Capital Management Company LP now owns 9,300,000 shares of the software’s stock worth $488,250,000 after acquiring an additional 700,000 shares in the last quarter. Institutional investors and hedge funds own 61.66% of the company’s stock.

Altair Engineering Company Profile

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Altair Engineering, Inc engages in the provision of software and cloud solutions for product design & development, high performance cloud computing, and data intelligence. It operates through the following segments: Software and Client Engineering Services. The Software segment includes a portfolio of software products, as well as solvers and optimization technology products, modelling and visualization tools.

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