Insider Selling: 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 dated 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 approximately $2,557,674. The trade was a 1.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 stock was 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 value of $26,209.55.

Altair Engineering Price Performance

Shares of ALTR opened at $111.75 on Friday. Altair Engineering Inc. has a one year low of $75.71 and a one year high of $113.12. The company has a 50-day simple moving average of $110.91 and a two-hundred day simple moving average of $104.50. The firm has a market capitalization of $9.59 billion, a PE ratio of 657.35, a price-to-earnings-growth ratio of 10.75 and a beta of 1.45.

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. Analysts expect that Altair Engineering Inc. will post 0.87 EPS for the current fiscal year.

Hedge Funds Weigh In On Altair Engineering

Several large investors have recently made changes to their positions in ALTR. Magnetar Financial LLC purchased a new position in shares of Altair Engineering during the fourth quarter valued at approximately $62,142,000. Norges Bank purchased a new position in shares of Altair Engineering during the fourth quarter valued at approximately $37,899,000. Schonfeld Strategic Advisors LLC lifted its holdings in shares of Altair Engineering by 13,097.8% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 331,528 shares of the software’s stock valued at $36,173,000 after purchasing an additional 329,016 shares during the last quarter. Vanguard Group Inc. lifted its holdings in shares of Altair Engineering by 4.8% during the fourth quarter. Vanguard Group Inc. now owns 6,894,230 shares of the software’s stock valued at $752,229,000 after purchasing an additional 317,575 shares during the last quarter. Finally, Woodline Partners LP purchased a new position in shares of Altair Engineering during the fourth quarter valued at approximately $32,733,000. 63.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Rosenblatt Securities reissued 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 reissued a “hold” rating on shares of Altair Engineering in a research note on Friday, February 21st. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average 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.