Amy Messano Sells 255 Shares of Altair Engineering Inc. (NASDAQ:ALTR) Stock

Altair Engineering Inc. (NASDAQ:ALTR) CMO Amy Messano sold 255 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $111.45, for a total value of $28,419.75. Following the transaction, the chief marketing officer now directly owns 23,396 shares in the company, valued at approximately $2,607,484.20. This represents a 1.08 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Amy Messano also recently made the following trade(s):

• 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 Stock Performance

Shares of ALTR traded up $0.05 during trading hours on Wednesday, reaching $111.39. The stock had a trading volume of 135,343 shares, compared to its average volume of 760,628. The stock has a market capitalization of $9.56 billion, a PE ratio of 655.38, a PEG ratio of 10.75 and a beta of 1.45. The company’s 50-day moving average is $110.44 and its two-hundred day moving average is $102.73. Altair Engineering Inc. has a 12 month low of $75.71 and a 12 month high of $113.12.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Private Advisor Group LLC acquired a new position in Altair Engineering during the third quarter worth $208,000. State of Alaska Department of Revenue boosted its position in shares of Altair Engineering by 11.5% during the third quarter. State of Alaska Department of Revenue now owns 6,900 shares of the software’s stock valued at $659,000 after buying an additional 710 shares during the last quarter. New York State Teachers Retirement System raised its position in Altair Engineering by 1.2% in the 3rd quarter. New York State Teachers Retirement System now owns 8,500 shares of the software’s stock valued at $812,000 after buying an additional 100 shares during the last quarter. US Bancorp DE lifted its position in shares of Altair Engineering by 19.6% during the third quarter. US Bancorp DE now owns 6,572 shares of the software’s stock valued at $628,000 after purchasing an additional 1,078 shares in the last quarter. Finally, Harbor Capital Advisors Inc. grew its position in Altair Engineering by 2.9% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 10,017 shares of the software’s stock worth $957,000 after purchasing an additional 279 shares in the last quarter. Institutional investors own 63.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ALTR. Rosenblatt Securities reiterated a “neutral” rating and issued a $113.00 target price on shares of Altair Engineering in a report on Monday, February 24th. Needham & Company LLC reissued a “hold” rating on shares of Altair Engineering in a research report on Friday, February 21st. One equities research 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, Altair Engineering currently has a consensus rating of “Hold” and a consensus price target 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.