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

Altair Engineering Inc. (NASDAQ:ALTR) CRO Nelson Dias sold 22,500 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $106.23, for a total transaction of $2,390,175.00. Following the completion of the sale, the executive now directly 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Altair Engineering Stock Up 0.3 %

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

Institutional Investors Weigh In On Altair Engineering

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

Analyst Ratings Changes

Several analysts have issued reports on the stock. Loop Capital reaffirmed a “hold” rating and issued a $113.00 price target on shares of Altair Engineering in a report on Thursday, October 31st. William Blair reiterated a “market perform” rating on shares of Altair Engineering in a report on Thursday, October 31st. Needham & Company LLC reissued a “hold” rating and issued a $100.00 price target on shares of Altair Engineering in a report on Thursday, October 31st. Rosenblatt Securities increased their price objective on Altair Engineering from $88.00 to $113.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, Wolfe Research downgraded shares of Altair Engineering from a “strong-buy” rating to a “hold” rating in a research note on Sunday, November 3rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $100.71.

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.