Insider Selling: Altair Engineering Inc. (NASDAQ:ALTR) CMO Sells 255 Shares of Stock

Altair Engineering Inc. (NASDAQ:ALTR) CMO Amy Messano sold 255 shares of the business’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $111.45, for a total transaction of $28,419.75. Following the sale, the chief marketing officer now 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 is available through this hyperlink.

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 transaction of $26,209.55.

Altair Engineering Trading Up 0.0 %

ALTR stock traded up $0.05 during trading on Wednesday, reaching $111.39. 135,343 shares of the stock were exchanged, compared to its average volume of 760,628. The stock has a 50 day simple moving average of $110.44 and a 200-day simple moving average of $102.73. The company has a market capitalization of $9.56 billion, a P/E ratio of 655.38, a price-to-earnings-growth ratio of 10.75 and a beta of 1.45. Altair Engineering Inc. has a twelve month low of $75.71 and a twelve month high of $113.12.

Altair Engineering (NASDAQ:ALTR) last announced its quarterly earnings results on Thursday, February 20th. The software reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.15). The business had revenue of $192.63 million during the quarter, compared to the consensus estimate of $182.98 million. Altair Engineering had a net margin of 2.13% and a return on equity of 8.08%. Equities analysts predict that Altair Engineering Inc. will post 0.87 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the stock. Fisher Asset Management LLC boosted its position in Altair Engineering by 27.0% in the third quarter. Fisher Asset Management LLC now owns 401,612 shares of the software’s stock valued at $38,358,000 after buying an additional 85,303 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Altair Engineering by 1.7% in the 4th quarter. Principal Financial Group Inc. now owns 168,665 shares of the software’s stock worth $18,403,000 after acquiring an additional 2,872 shares in the last quarter. Citigroup Inc. grew its position in Altair Engineering by 141.0% during the 3rd quarter. Citigroup Inc. now owns 50,518 shares of the software’s stock worth $4,825,000 after acquiring an additional 29,556 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Altair Engineering during the 3rd quarter valued at $1,356,000. Finally, Versor Investments LP bought a new position in Altair Engineering in the 3rd quarter valued at $487,000. 63.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ALTR. Rosenblatt Securities reissued a “neutral” rating and set a $113.00 price objective on shares of Altair Engineering in a research note on Monday, February 24th. Needham & Company LLC restated a “hold” rating on shares of Altair Engineering in a research note on Friday, February 21st. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat, Altair Engineering has a consensus rating of “Hold” and an average price target of $100.83.

About Altair Engineering

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.