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 company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $111.30, for a total transaction of $10,017.00. Following the completion of the transaction, the insider now directly owns 5,462 shares of the company’s stock, valued at approximately $607,920.60. The trade was a 1.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at 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 Trading Up 0.1 %

Shares of Altair Engineering stock traded up $0.10 during trading hours on Wednesday, reaching $111.54. 326,965 shares of the company’s stock were exchanged, compared to its average volume of 645,046. The company has a 50 day moving average of $110.83 and a two-hundred day moving average of $104.25. Altair Engineering Inc. has a fifty-two week low of $75.71 and a fifty-two week high of $113.12. The stock has a market cap 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 (NASDAQ:ALTR) last posted its quarterly earnings data on Thursday, February 20th. The software reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.15). The business had revenue of $192.63 million for the quarter, compared to analyst estimates of $182.98 million. Altair Engineering had a return on equity of 8.08% and a net margin of 2.13%. As a group, analysts expect that Altair Engineering Inc. will post 0.87 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. NBT Bank N A NY increased its holdings in shares of Altair Engineering by 76.4% during the fourth quarter. NBT Bank N A NY now owns 247 shares of the software’s stock worth $27,000 after purchasing an additional 107 shares during the period. UMB Bank n.a. increased its holdings 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 worth $31,000 after purchasing an additional 124 shares during the period. Johnson Financial Group Inc. bought a new position in shares of Altair Engineering during the fourth quarter worth approximately $37,000. GAMMA Investing LLC increased its holdings in shares of Altair Engineering by 14.6% during the fourth quarter. GAMMA Investing LLC now owns 729 shares of the software’s stock worth $80,000 after purchasing an additional 93 shares during the period. Finally, Blue Trust Inc. increased its holdings in shares of Altair Engineering by 185.5% during the fourth quarter. Blue Trust Inc. now owns 825 shares of the software’s stock worth $90,000 after purchasing an additional 536 shares during the period. 63.38% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ALTR has been the subject of a number of research analyst reports. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $113.00 target price on shares of Altair Engineering in a research note on Monday, February 24th. Needham & Company LLC reaffirmed 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 assigned a hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $100.83.

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.