Altair Engineering Inc. (NASDAQ:ALTR) CMO Amy Messano Sells 416 Shares of Stock

Altair Engineering Inc. (NASDAQ:ALTR) CMO Amy Messano sold 416 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $111.30, for a total value of $46,300.80. Following the completion of the sale, the chief marketing officer now directly owns 22,980 shares in the company, valued at $2,557,674. This trade represents a 1.78 % decrease in their position. The transaction was disclosed in a legal filing 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 transaction of $26,209.55.

Altair Engineering Trading Up 0.2 %

NASDAQ ALTR opened at $111.67 on Thursday. Altair Engineering Inc. has a 1-year low of $75.71 and a 1-year high of $113.12. The company has a 50 day moving average of $110.86 and a 200-day moving average of $104.30. The firm has a market cap of $9.58 billion, a price-to-earnings ratio of 656.88, a PEG 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 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.15). The business had revenue of $192.63 million during 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%. On average, analysts forecast that Altair Engineering Inc. will post 0.87 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ALTR shares. Rosenblatt Securities reissued a “neutral” rating and set a $113.00 target price 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 report 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. According to MarketBeat, Altair Engineering presently has a consensus rating of “Hold” and a consensus price target of $100.83.

Institutional Investors Weigh In On Altair Engineering

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

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.