Amy Messano Sells 416 Shares of Altair Engineering Inc. (NASDAQ:ALTR) Stock

Altair Engineering Inc. (NASDAQ:ALTR) CMO Amy Messano sold 416 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $111.30, for a total value of $46,300.80. Following the completion of the sale, the chief marketing officer now directly owns 22,980 shares in the company, valued at $2,557,674. The trade was a 1.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Monday, March 3rd, Amy Messano sold 255 shares of Altair Engineering stock. The stock was sold at an average price of $111.45, for a total value of $28,419.75.
• 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 0.1 %

Shares of ALTR stock opened at $111.54 on Friday. The company’s fifty day moving average price is $110.88 and its 200-day moving average price is $104.35. The stock has a market cap of $9.57 billion, a PE ratio of 656.12, a price-to-earnings-growth ratio of 10.75 and a beta of 1.45. Altair Engineering Inc. has a 12 month low of $75.71 and a 12 month high of $113.12.

Altair Engineering (NASDAQ:ALTR) last announced its quarterly earnings data 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 return on equity of 8.08% and a net margin of 2.13%. The business had revenue of $192.63 million during the quarter, compared to analysts’ expectations of $182.98 million. On average, sell-side analysts forecast that Altair Engineering Inc. will post 0.87 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Rosenblatt Securities reissued a “neutral” rating and set a $113.00 price objective on shares of Altair Engineering in a research report on Monday, February 24th. 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 issued a hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $100.83.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in Altair Engineering by 4.8% in the fourth quarter. Vanguard Group Inc. now owns 6,894,230 shares of the software’s stock worth $752,229,000 after acquiring an additional 317,575 shares in the last quarter. State Street Corp raised its position in shares of Altair Engineering by 3.3% in the 3rd quarter. State Street Corp now owns 2,053,957 shares of the software’s stock worth $196,173,000 after purchasing an additional 65,589 shares during the last quarter. Geode Capital Management LLC boosted its stake in Altair Engineering by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,423,880 shares of the software’s stock worth $136,020,000 after purchasing an additional 53,088 shares in the last quarter. Northern Trust Corp grew 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 valued at $81,962,000 after purchasing an additional 63,368 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Altair Engineering by 2.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 591,573 shares of the software’s stock valued at $64,547,000 after purchasing an additional 12,585 shares in the last quarter. Institutional investors own 63.38% of the company’s stock.

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.