Altair Engineering Inc. (NASDAQ:ALTR) CMO Sells $28,419.75 in Stock

Altair Engineering Inc. (NASDAQ:ALTR) CMO Amy Messano sold 255 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $111.45, for a total value of $28,419.75. Following the completion of the transaction, the chief marketing officer now directly owns 23,396 shares in the company, valued at $2,607,484.20. This trade represents a 1.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Amy Messano also recently made the following trade(s):

• On Wednesday, February 26th, Amy Messano sold 235 shares of Altair Engineering stock. The shares were sold at an average price of $111.53, for a total value of $26,209.55.

Altair Engineering Trading Down 0.0 %

Altair Engineering stock opened at $111.32 on Thursday. The company has a fifty day simple moving average of $110.49 and a 200-day simple moving average of $102.79. Altair Engineering Inc. has a 12-month low of $75.71 and a 12-month high of $113.12. The stock has a market cap of $9.55 billion, a P/E ratio of 654.82, a price-to-earnings-growth ratio of 10.75 and a beta of 1.45.

Altair Engineering (NASDAQ:ALTR) last posted its quarterly earnings data on Thursday, February 20th. The software reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.15). Altair Engineering had a net margin of 2.13% and a return on equity of 8.08%. The business had revenue of $192.63 million during the quarter, compared to analyst estimates of $182.98 million. As a group, sell-side analysts forecast that Altair Engineering Inc. will post 0.87 earnings per share for the current fiscal year.

Institutional Trading of Altair Engineering

Several institutional investors and hedge funds have recently modified their holdings of the business. Fisher Asset Management LLC increased its position in 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 last quarter. Principal Financial Group Inc. boosted its stake in shares of Altair Engineering by 1.7% in the fourth quarter. Principal Financial Group Inc. now owns 168,665 shares of the software’s stock valued at $18,403,000 after purchasing an additional 2,872 shares during the period. Citigroup Inc. boosted its stake in Altair Engineering by 141.0% during the 3rd quarter. Citigroup Inc. now owns 50,518 shares of the software’s stock valued at $4,825,000 after acquiring an additional 29,556 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Altair Engineering during the 3rd quarter valued at $1,356,000. Finally, Versor Investments LP bought a new position in Altair Engineering during the 3rd quarter valued at $487,000. Hedge funds and other institutional investors own 63.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ALTR. Needham & Company LLC reaffirmed a “hold” rating on shares of Altair Engineering in a research report on Friday, February 21st. Rosenblatt Securities reiterated a “neutral” rating and issued a $113.00 price objective on shares of Altair Engineering in a report on Monday, February 24th. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $100.83.

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.