Altair Engineering Inc. (NASDAQ:ALTR) Insider Jeffrey Marraccini Sells 1,824 Shares

Altair Engineering Inc. (NASDAQ:ALTR) insider Jeffrey Marraccini sold 1,824 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $104.10, for a total transaction of $189,878.40. Following the sale, the insider now owns 4,680 shares in the company, valued at approximately $487,188. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.

Altair Engineering Trading Down 0.0 %

Altair Engineering stock opened at $103.96 on Friday. The business has a 50-day simple moving average of $95.45 and a two-hundred day simple moving average of $92.17. Altair Engineering Inc. has a 52-week low of $67.64 and a 52-week high of $113.12. The company has a quick ratio of 3.27, a current ratio of 3.27 and a debt-to-equity ratio of 0.27. The company has a market cap of $8.83 billion, a P/E ratio of 273.59, a P/E/G ratio of 13.28 and a beta of 1.44.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Blue Trust Inc. grew its position in shares of Altair Engineering by 572.1% during the 3rd quarter. Blue Trust Inc. now owns 289 shares of the software’s stock valued at $28,000 after acquiring an additional 246 shares during the period. GAMMA Investing LLC lifted its position in Altair Engineering by 81.7% during the second quarter. GAMMA Investing LLC now owns 418 shares of the software’s stock valued at $41,000 after purchasing an additional 188 shares in the last quarter. FSC Wealth Advisors LLC grew its holdings in Altair Engineering by 41.3% during the second quarter. FSC Wealth Advisors LLC now owns 832 shares of the software’s stock valued at $82,000 after purchasing an additional 243 shares during the period. Van ECK Associates Corp increased its position in Altair Engineering by 41.7% in the second quarter. Van ECK Associates Corp now owns 1,057 shares of the software’s stock worth $104,000 after buying an additional 311 shares in the last quarter. Finally, KBC Group NV raised its stake in shares of 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 buying an additional 249 shares during the period. 63.38% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. JPMorgan Chase & Co. cut Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 price objective for the company. in a research note on Monday, July 15th. Loop Capital reaffirmed a “hold” rating and issued a $113.00 target price on shares of Altair Engineering in a report on Thursday, October 31st. Royal Bank of Canada increased their price target on shares of Altair Engineering from $90.00 to $113.00 and gave the company a “sector perform” rating in a report on Thursday, October 31st. The Goldman Sachs Group lowered shares of Altair Engineering from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $85.00 to $71.00 in a report on Friday, August 2nd. Finally, Wolfe Research downgraded Altair Engineering from a “strong-buy” rating to a “hold” rating in a research note on Sunday, November 3rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $100.71.

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.