Insider Selling: Altair Engineering Inc. (NASDAQ:ALTR) CMO Sells 235 Shares of Stock

Altair Engineering Inc. (NASDAQ:ALTR) CMO Amy Messano sold 235 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $111.53, for a total value of $26,209.55. Following the completion of the transaction, the chief marketing officer now directly owns 23,651 shares of the company’s stock, valued at $2,637,796.03. This trade represents a 0.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Altair Engineering Stock Up 0.0 %

NASDAQ ALTR traded up $0.05 on Thursday, reaching $111.65. The company had a trading volume of 274,449 shares, compared to its average volume of 767,923. Altair Engineering Inc. has a 52-week low of $75.71 and a 52-week high of $113.12. The company’s fifty day moving average is $110.21 and its 200 day moving average is $102.03. The stock has a market capitalization of $9.50 billion, a P/E ratio of 656.82, a P/E/G ratio of 10.75 and a beta of 1.42.

Altair Engineering (NASDAQ:ALTR) last issued its quarterly earnings data on Thursday, February 20th. The software reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.15). The company had revenue of $192.63 million for the quarter, compared to analysts’ expectations of $182.98 million. Altair Engineering had a return on equity of 8.08% and a net margin of 2.13%. On average, research analysts expect that Altair Engineering Inc. will post 0.87 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ALTR. Wolfe Research lowered Altair Engineering from a “strong-buy” rating to a “hold” rating in a research report on Sunday, November 3rd. William Blair reaffirmed a “market perform” rating on shares of Altair Engineering in a report on Thursday, October 31st. Rosenblatt Securities restated a “neutral” rating and issued a $113.00 target price on shares of Altair Engineering in a research note on Monday. Loop Capital reiterated a “hold” rating and set a $113.00 target price on shares of Altair Engineering in a research report on Thursday, October 31st. Finally, Needham & Company LLC reissued 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 given a hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $100.83.

Hedge Funds Weigh In On Altair Engineering

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in shares of Altair Engineering by 4.8% during the fourth quarter. Vanguard Group Inc. now owns 6,894,230 shares of the software’s stock valued at $752,229,000 after purchasing an additional 317,575 shares in the last quarter. Conestoga Capital Advisors LLC boosted its stake in shares of Altair Engineering by 1.4% during the third quarter. Conestoga Capital Advisors LLC now owns 2,522,551 shares of the software’s stock valued at $240,929,000 after purchasing an additional 33,985 shares during the period. State Street Corp increased its position in Altair Engineering by 3.3% during the 3rd quarter. State Street Corp now owns 2,053,957 shares of the software’s stock valued at $196,173,000 after purchasing an additional 65,589 shares during the period. Geode Capital Management LLC grew its stake in Altair Engineering by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,423,880 shares of the software’s stock worth $136,020,000 after buying an additional 53,088 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in Altair Engineering by 9.2% during the 4th quarter. Northern Trust Corp now owns 751,191 shares of the software’s stock valued at $81,962,000 after acquiring an additional 63,368 shares during the period. 63.38% of the stock is owned by institutional investors.

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.