Altair Engineering Inc. (NASDAQ:ALTR) CMO Sells $46,300.80 in Stock

Altair Engineering Inc. (NASDAQ:ALTR) CMO Amy Messano sold 416 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $111.30, for a total transaction of $46,300.80. Following the sale, the chief marketing officer now owns 22,980 shares of the company’s stock, valued at $2,557,674. This represents a 1.78 % 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 this hyperlink.

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

• On Monday, March 3rd, Amy Messano sold 255 shares of Altair Engineering stock. The shares were sold at an average price of $111.45, for a total transaction of $28,419.75.
• On Wednesday, February 26th, Amy Messano sold 235 shares of Altair Engineering stock. The stock was sold at an average price of $111.53, for a total transaction of $26,209.55.

Altair Engineering Price Performance

ALTR traded up $0.10 on Wednesday, hitting $111.54. The company had a trading volume of 326,965 shares, compared to its average volume of 645,046. The stock has a fifty day simple moving average of $110.83 and a 200-day simple moving average of $104.25. The firm has a market capitalization of $9.57 billion, a P/E ratio of 656.06, a P/E/G ratio of 10.75 and a beta of 1.45. Altair Engineering Inc. has a 52-week low of $75.71 and a 52-week high of $113.12.

Altair Engineering (NASDAQ:ALTR) last released its quarterly earnings results on Thursday, February 20th. The software reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.15). The firm had revenue of $192.63 million for 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 research analysts expect that Altair Engineering Inc. will post 0.87 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Rosenblatt Securities reaffirmed a “neutral” rating and set a $113.00 price target 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 equities research analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $100.83.

Institutional Trading of Altair Engineering

A number of hedge funds have recently modified their holdings of ALTR. California State Teachers Retirement System increased its stake in shares of Altair Engineering by 2.5% in the 4th quarter. California State Teachers Retirement System now owns 55,226 shares of the software’s stock worth $6,026,000 after acquiring an additional 1,340 shares in the last quarter. Polar Asset Management Partners Inc. bought a new position in shares of Altair Engineering during the fourth quarter valued at approximately $5,456,000. GTS Securities LLC purchased a new position in shares of Altair Engineering during the fourth quarter valued at approximately $201,000. BCK Capital Management LP purchased a new position in shares of Altair Engineering during the fourth quarter valued at approximately $1,506,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Altair Engineering by 201.0% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 381,061 shares of the software’s stock worth $41,578,000 after purchasing an additional 254,448 shares in the last quarter. Institutional investors own 63.38% of the company’s stock.

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.