Insider Selling: Altair Engineering Inc. (NASDAQ:ALTR) Insider Sells 197 Shares of Stock

Altair Engineering Inc. (NASDAQ:ALTR) insider Jeffrey Marraccini sold 197 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $111.45, for a total transaction of $21,955.65. Following the sale, the insider now owns 5,552 shares in the company, valued at $618,770.40. The trade was a 3.43 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Altair Engineering Stock Performance

Shares of Altair Engineering stock traded up $0.05 during trading hours on Wednesday, reaching $111.39. The company’s stock had a trading volume of 135,343 shares, compared to its average volume of 760,628. The stock’s fifty day simple moving average is $110.44 and its two-hundred day simple moving average is $102.73. The company has a market capitalization of $9.56 billion, a P/E ratio of 655.38, a P/E/G ratio of 10.75 and a beta of 1.45. Altair Engineering Inc. has a one year low of $75.71 and a one year high of $113.12.

Altair Engineering (NASDAQ:ALTR) last issued its quarterly earnings data 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 return on equity of 8.08% and a net margin of 2.13%. The company had revenue of $192.63 million during the quarter, compared to analysts’ expectations of $182.98 million. As a group, research analysts forecast that Altair Engineering Inc. will post 0.87 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have recently issued reports on ALTR shares. Rosenblatt Securities reiterated a “neutral” rating and set a $113.00 price target on shares of Altair Engineering in a report on Monday, February 24th. Needham & Company LLC reiterated a “hold” rating on shares of Altair Engineering in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $100.83.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. NBT Bank N A NY boosted its position in Altair Engineering by 76.4% in 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 last quarter. UMB Bank n.a. grew its position in 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 buying an additional 124 shares during the period. Johnson Financial Group Inc. purchased a new stake in Altair Engineering during the fourth quarter worth about $37,000. GAMMA Investing LLC raised its position in Altair Engineering by 14.6% in the fourth quarter. GAMMA Investing LLC now owns 729 shares of the software’s stock worth $80,000 after acquiring an additional 93 shares during the period. Finally, Blue Trust Inc. raised its stake in shares of Altair Engineering by 185.5% in the fourth quarter. Blue Trust Inc. now owns 825 shares of the software’s stock valued at $90,000 after buying an additional 536 shares during the period. 63.38% of the stock is owned by institutional investors.

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.