Altair Engineering Inc. (NASDAQ:ALTR) CMO Sells $26,209.55 in Stock

Altair Engineering Inc. (NASDAQ:ALTR) CMO Amy Messano sold 235 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $111.53, for a total transaction of $26,209.55. Following the transaction, the chief marketing officer now directly owns 23,651 shares in the company, valued at approximately $2,637,796.03. This represents a 0.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Altair Engineering Trading Up 0.1 %

ALTR opened at $111.60 on Friday. The company’s 50 day moving average is $110.34 and its 200-day moving average is $102.36. Altair Engineering Inc. has a 1-year low of $75.71 and a 1-year high of $113.12. The company has a market cap of $9.50 billion, a P/E ratio of 656.47, a PEG ratio of 10.75 and a beta of 1.42.

Altair Engineering (NASDAQ:ALTR) last posted its quarterly earnings results on Thursday, February 20th. The software reported $0.36 earnings per share 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 company had revenue of $192.63 million during the quarter, compared to analyst estimates of $182.98 million. On average, equities analysts forecast that Altair Engineering Inc. will post 0.87 EPS for the current year.

Institutional Investors Weigh In On Altair Engineering

A number of hedge funds have recently made changes to their positions in ALTR. Vanguard Group Inc. boosted its position in Altair Engineering by 4.8% during the 4th quarter. Vanguard Group Inc. now owns 6,894,230 shares of the software’s stock worth $752,229,000 after buying an additional 317,575 shares during the period. Conestoga Capital Advisors LLC boosted its position in Altair Engineering by 1.4% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 2,522,551 shares of the software’s stock worth $240,929,000 after buying an additional 33,985 shares during the period. State Street Corp boosted 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 worth $196,173,000 after buying an additional 65,589 shares during the period. Geode Capital Management LLC boosted its position 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 period. Finally, Northern Trust Corp boosted its position in Altair Engineering by 9.2% during the 4th quarter. Northern Trust Corp now owns 751,191 shares of the software’s stock worth $81,962,000 after buying an additional 63,368 shares during the period. 63.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Wolfe Research downgraded shares of Altair Engineering from a “strong-buy” rating to a “hold” rating in a research note on Sunday, November 3rd. Rosenblatt Securities reiterated a “neutral” rating and set a $113.00 price objective on shares of Altair Engineering in a research note on Monday, February 24th. Finally, Needham & Company LLC reiterated a “hold” rating on shares of Altair Engineering in a research note on Friday, February 21st. One equities research analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target 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.