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Keeping an Eye on Altair Engineering Inc (ALTR) After Insider Trading Activity

In a filing, Altair Engineering Inc revealed its Chief Legal Officer Maitra Raoul unloaded Company’s shares for reported $0.11 million on May 10 ’24. In the deal valued at $85.73 per share,1,316 shares were sold. As a result of this transaction, Maitra Raoul now holds 27,260 shares worth roughly $2.36 million.

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Then, Kunju Ravi sold 1,095 shares, generating $93,426 in total proceeds. Upon selling the shares at $85.32, the Chief Product Strategy Officer now owns 30,582 shares.

Before that, Christ Revocable Trust sold 87,217 shares. Altair Engineering Inc shares valued at $7,423,856 were divested by the 10% Owner at a price of $85.12 per share. As a result of the transaction, Christ Revocable Trust now holds 100,000 shares, worth roughly $8.68 million.

Rosenblatt downgraded its Altair Engineering Inc [ALTR] rating to a Neutral from a a Buy in a research note published on February 23, 2024; the price target was increased to $88 from $74. A number of analysts have revised their coverage, including JP Morgan’s analysts, who began to cover the stock in late December with a ‘”an Overweight”‘ rating. Goldman also remained covering ALTR and has increased its forecast on May 05, 2023 with a “Neutral” recommendation from previously “Sell” rating. Needham started covering the stock on November 16, 2022. It rated ALTR as “a Buy”.

Price Performance Review of ALTR

On Tuesday, Altair Engineering Inc [NASDAQ:ALTR] saw its stock jump 1.50% to $86.75. Over the last five days, the stock has gained 0.77%. Altair Engineering Inc shares have risen nearly 3.09% since the year began. Nevertheless, the stocks have risen 28.33% over the past one year. While a 52-week high of $92.92 was reached on 02/09/24, a 52-week low of $57.59 was recorded on 01/03/24. SMA at 50 days reached $83.23, while 200 days put it at $75.32. A total of 0.26 million shares were traded, compared to the trading of 0.29 million shares in the previous session.

Levels Of Support And Resistance For ALTR Stock

The 24-hour chart illustrates a support level at 85.85, which if violated will result in even more drops to 84.95. On the upside, there is a resistance level at 87.22. A further resistance level may holdings at 87.69. The Relative Strength Index (RSI) on the 14-day chart is 61.88, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 2.23, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 0.43%. Stochastics %K at 92.57% indicates the stock is a selling.

The most recent change occurred on August 17, 2022 when Wolfe Research began covering the stock and recommended ‘”an Outperform”‘ rating along with a $70 price target.

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