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 Altair Engineering stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $111.45, for a total value of $21,955.65. Following the completion of the sale, the insider now directly owns 5,552 shares in the company, valued at approximately $618,770.40. The trade was a 3.43 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Altair Engineering Stock Performance

Shares of ALTR stock opened at $111.32 on Thursday. The stock’s 50-day simple moving average is $110.49 and its 200-day simple moving average is $102.79. The firm has a market capitalization of $9.55 billion, a PE ratio of 654.82, a P/E/G ratio of 10.75 and a beta of 1.45. Altair Engineering Inc. has a fifty-two week low of $75.71 and a fifty-two week high of $113.12.

Altair Engineering (NASDAQ:ALTR) last announced its quarterly earnings data on Thursday, February 20th. The software reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.15). The firm had revenue of $192.63 million during the quarter, compared to analyst estimates of $182.98 million. Altair Engineering had a net margin of 2.13% and a return on equity of 8.08%. Sell-side analysts forecast that Altair Engineering Inc. will post 0.87 earnings per share for the current year.

Institutional Trading of Altair Engineering

Several hedge funds and other institutional investors have recently bought and sold shares of ALTR. NBT Bank N A NY boosted its position in 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 in the last quarter. UMB Bank n.a. lifted its position in shares of Altair Engineering by 77.0% in the fourth quarter. UMB Bank n.a. now owns 285 shares of the software’s stock valued at $31,000 after acquiring an additional 124 shares in the last quarter. Johnson Financial Group Inc. acquired a new stake in shares of Altair Engineering in the fourth quarter valued at approximately $37,000. GAMMA Investing LLC increased its holdings in shares of Altair Engineering by 14.6% in the fourth 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 last quarter. Finally, Blue Trust Inc. increased its holdings 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 purchasing an additional 536 shares during the last quarter. 63.38% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Needham & Company LLC restated a “hold” rating on shares of Altair Engineering in a report on Friday, February 21st. Rosenblatt Securities restated a “neutral” rating and set a $113.00 price objective on shares of Altair Engineering in a research note on Monday, February 24th. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $100.83.

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.