Altair Engineering Inc. (NASDAQ:ALTR - Get Free Report) major shareholder Christ Revocable Trust sold 3,904 shares of the firm's stock in a transaction dated Tuesday, March 26th. The stock was sold at an average price of $85.42, for a total value of $333,479.68. Following the completion of the transaction, the insider now owns 283,336 shares of the company's stock, valued at $24,202,561.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Major shareholders that own at least 10% of a company's shares are required to disclose their sales and purchases with the SEC.
Altair Engineering Stock Performance
ALTR opened at $86.15 on Friday. The company has a 50-day moving average price of $85.81 and a 200 day moving average price of $75.89. Altair Engineering Inc. has a twelve month low of $57.59 and a twelve month high of $92.92. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.16 and a current ratio of 2.16.
Altair Engineering (NASDAQ:ALTR - Get Free Report) last posted its quarterly earnings data on Thursday, February 22nd. The software reported $0.29 earnings per share for the quarter, topping analysts' consensus estimates of $0.22 by $0.07. The firm had revenue of $171.50 million during the quarter, compared to analysts' expectations of $172.48 million. Altair Engineering had a negative net margin of 1.46% and a positive return on equity of 3.77%. Equities research analysts predict that Altair Engineering Inc. will post 0.6 EPS for the current year.
Institutional Investors Weigh In On Altair Engineering
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Hedge funds and other institutional investors have recently modified their holdings of the company. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Altair Engineering in the 4th quarter valued at $31,000. EdgeRock Capital LLC acquired a new stake in shares of Altair Engineering in the 4th quarter valued at $33,000. UBS Group AG raised its holdings in shares of Altair Engineering by 48.7% in the 4th quarter. UBS Group AG now owns 938 shares of the software's stock valued at $43,000 after purchasing an additional 307 shares in the last quarter. Harvest Fund Management Co. Ltd raised its holdings in shares of Altair Engineering by 1,157.7% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 981 shares of the software's stock valued at $83,000 after purchasing an additional 903 shares in the last quarter. Finally, KBC Group NV acquired a new stake in shares of Altair Engineering in the 4th quarter valued at $96,000. 63.38% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
ALTR has been the topic of several analyst reports. Rosenblatt Securities reaffirmed a "neutral" rating and set a $88.00 target price (up from $74.00) on shares of Altair Engineering in a report on Friday, February 23rd. Needham & Company LLC reaffirmed a "buy" rating and set a $100.00 target price on shares of Altair Engineering in a report on Monday. Oppenheimer raised their target price on Altair Engineering from $95.00 to $100.00 and gave the stock an "outperform" rating in a report on Friday, February 23rd. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $90.00 target price on shares of Altair Engineering in a report on Thursday, March 21st. Finally, JPMorgan Chase & Co. raised their target price on Altair Engineering from $86.00 to $95.00 and gave the stock an "overweight" rating in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, Altair Engineering has a consensus rating of "Moderate Buy" and a consensus target price of $88.71.
Get Our Latest Stock Analysis on ALTR
About Altair Engineering
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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.
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