Jeffrey Marraccini Sells 90 Shares of Altair Engineering Inc. (NASDAQ:ALTR) Stock

Altair Engineering Inc. (NASDAQ:ALTR) insider Jeffrey Marraccini sold 90 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 transaction of $10,017.00. Following the sale, the insider now directly owns 5,462 shares in the company, valued at $607,920.60. This represents a 1.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Jeffrey Marraccini also recently made the following trade(s):

• On Monday, March 3rd, Jeffrey Marraccini sold 197 shares of Altair Engineering stock. The stock was sold at an average price of $111.45, for a total transaction of $21,955.65.

Altair Engineering Stock Performance

NASDAQ ALTR opened at $111.54 on Friday. Altair Engineering Inc. has a one year low of $75.71 and a one year high of $113.12. The company’s 50 day moving average price is $110.88 and its 200 day moving average price is $104.35. The firm has a market capitalization of $9.57 billion, a price-to-earnings ratio of 656.12, a PEG ratio of 10.75 and a beta of 1.45.

Altair Engineering (NASDAQ:ALTR) last posted its quarterly earnings results on Thursday, February 20th. The software reported $0.36 EPS for the quarter, missing the consensus estimate 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 analysts’ expectations of $182.98 million. Sell-side analysts forecast that Altair Engineering Inc. will post 0.87 EPS for the current fiscal year.

Analyst Ratings Changes

ALTR has been the topic of several research analyst reports. Needham & Company LLC reissued a “hold” rating on shares of Altair Engineering in a research report on Friday, February 21st. Rosenblatt Securities reissued a “neutral” rating and issued a $113.00 target price on shares of Altair Engineering in a research report on Monday, February 24th. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. According to data from MarketBeat.com, Altair Engineering has an average rating of “Hold” and an average price target of $100.83.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ALTR. NBT Bank N A NY raised its holdings in Altair Engineering by 76.4% in the fourth quarter. NBT Bank N A NY now owns 247 shares of the software’s stock valued at $27,000 after buying an additional 107 shares during the period. UMB Bank n.a. raised its stake in shares of Altair Engineering by 77.0% during the fourth quarter. UMB Bank n.a. now owns 285 shares of the software’s stock valued at $31,000 after purchasing an additional 124 shares during the period. Johnson Financial Group Inc. purchased a new stake in shares of Altair Engineering during the fourth quarter valued at approximately $37,000. GAMMA Investing LLC raised its stake in shares of Altair Engineering by 14.6% during the fourth quarter. GAMMA Investing LLC now owns 729 shares of the software’s stock valued at $80,000 after purchasing an additional 93 shares during the period. Finally, Blue Trust Inc. raised its stake in shares of Altair Engineering by 185.5% during the fourth quarter. Blue Trust Inc. now owns 825 shares of the software’s stock valued at $90,000 after purchasing an additional 536 shares during the period. Hedge funds and other 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.