By otakuyassine3@gmail.com 
Altair Engineering Inc. (NASDAQ:ALTR – Get Free Report) CFO Matthew Charles Brown sold 1,048 shares of the company’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $108.90, for a total value of $114,127.20. Following the sale, the chief financial officer now owns 55,519 shares in the company, valued at approximately $6,046,019.10. This represents a 1.85 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Altair Engineering Stock Performance
Shares of NASDAQ:ALTR traded down $0.14 during trading on Thursday, reaching $108.88. 29,271 shares of the stock were exchanged, compared to its average volume of 602,322. Altair Engineering Inc. has a 12 month low of $75.71 and a 12 month high of $113.12. The stock has a 50-day moving average price of $104.91 and a 200-day moving average price of $96.75. The company has a current ratio of 3.27, a quick ratio of 3.27 and a debt-to-equity ratio of 0.27. The firm has a market cap of $9.26 billion, a PE ratio of 286.53, a PEG ratio of 12.16 and a beta of 1.44.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position in shares of Altair Engineering by 52.2% in 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. Moody Aldrich Partners LLC grew its position in shares of Altair Engineering by 15.2% during the 3rd quarter. Moody Aldrich Partners LLC now owns 75,233 shares of the software’s stock worth $7,186,000 after purchasing an additional 9,907 shares in the last quarter. Fisher Asset Management LLC increased its holdings in shares of Altair Engineering by 27.0% during the third quarter. Fisher Asset Management LLC now owns 401,612 shares of the software’s stock worth $38,358,000 after purchasing an additional 85,303 shares during the period. Envestnet Asset Management Inc. raised its position in shares of Altair Engineering by 8.9% in the second quarter. Envestnet Asset Management Inc. now owns 85,065 shares of the software’s stock valued at $8,343,000 after buying an additional 6,956 shares in the last quarter. Finally, Amalgamated Bank grew its position in Altair Engineering by 1,378.0% during the second quarter. Amalgamated Bank now owns 27,594 shares of the software’s stock worth $2,706,000 after buying an additional 25,727 shares in the last quarter. 63.38% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of brokerages recently weighed in on ALTR. Wolfe Research downgraded shares of Altair Engineering from a “strong-buy” rating to a “hold” rating in a report on Sunday, November 3rd. Royal Bank of Canada boosted their price objective on shares of Altair Engineering from $90.00 to $113.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 31st. Needham & Company LLC reiterated a “hold” rating and issued a $100.00 target price on shares of Altair Engineering in a research note on Thursday, October 31st. Rosenblatt Securities boosted their price target on Altair Engineering from $88.00 to $113.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, Loop Capital restated a “hold” rating and issued a $113.00 price objective on shares of Altair Engineering in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $100.71.
View Our Latest Stock Analysis on Altair Engineering
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.
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