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 stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $111.53, for a total value of $26,209.55. Following the completion of the transaction, the chief marketing officer now directly owns 23,651 shares of the company’s stock, valued at approximately $2,637,796.03. The trade was a 0.98 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link.

Altair Engineering Stock Down 0.1 %

Shares of NASDAQ:ALTR opened at $111.49 on Friday. The firm has a market cap of $9.49 billion, a P/E ratio of 655.82, a P/E/G ratio of 10.75 and a beta of 1.42. Altair Engineering Inc. has a 12 month low of $75.71 and a 12 month high of $113.12. The company’s 50-day moving average price is $110.29 and its two-hundred day moving average price is $102.10.

Altair Engineering (NASDAQ:ALTR) last released 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). The company 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%. As a group, equities analysts predict that Altair Engineering Inc. will post 0.87 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have weighed in on ALTR shares. Wolfe Research cut Altair Engineering from a “strong-buy” rating to a “hold” rating in a research report on Sunday, November 3rd. Royal Bank of Canada upped their target price on shares of Altair Engineering from $90.00 to $113.00 and gave the stock a “sector perform” rating in a report on Thursday, October 31st. Rosenblatt Securities reissued a “neutral” rating and set a $113.00 price target on shares of Altair Engineering in a report on Monday. Loop Capital restated a “hold” rating and issued a $113.00 price target on shares of Altair Engineering in a research report on Thursday, October 31st. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of Altair Engineering in a report on Friday, February 21st. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $100.83.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ALTR. NBT Bank N A NY raised its position 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 acquiring an additional 107 shares during the last quarter. UMB Bank n.a. increased its position in Altair Engineering by 77.0% in 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. Blue Trust Inc. raised its holdings in Altair Engineering by 572.1% during the 3rd quarter. Blue Trust Inc. now owns 289 shares of the software’s stock worth $28,000 after purchasing an additional 246 shares during the last quarter. Johnson Financial Group Inc. bought a new stake in Altair Engineering during the 4th quarter worth about $37,000. Finally, GAMMA Investing LLC lifted its position in Altair Engineering by 14.6% during the 4th 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. 63.38% of the stock is currently owned by institutional investors.

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.