Amy Messano Sells 235 Shares of Altair Engineering Inc. (NASDAQ:ALTR) Stock

Altair Engineering Inc. (NASDAQ:ALTR) CMO Amy Messano sold 235 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $111.53, for a total value of $26,209.55. Following the sale, the chief marketing officer now directly owns 23,651 shares of the company’s stock, valued at $2,637,796.03. The trade was a 0.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Altair Engineering Stock Performance

Altair Engineering stock traded up $0.05 during mid-day trading on Thursday, reaching $111.65. The stock had a trading volume of 274,449 shares, compared to its average volume of 767,923. Altair Engineering Inc. has a fifty-two week low of $75.71 and a fifty-two week high of $113.12. The firm has a market capitalization of $9.50 billion, a PE ratio of 656.82, a price-to-earnings-growth ratio of 10.75 and a beta of 1.42. The stock’s 50-day simple moving average is $110.21 and its 200-day simple moving average is $102.03.

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

Analysts Set New Price Targets

A number of equities analysts have recently commented on ALTR shares. Wolfe Research downgraded shares of Altair Engineering from a “strong-buy” rating to a “hold” rating in a research note on Sunday, November 3rd. Needham & Company LLC reaffirmed a “hold” rating on shares of Altair Engineering in a research report on Friday, February 21st. Royal Bank of Canada upped their price target on shares of Altair Engineering from $90.00 to $113.00 and gave the company a “sector perform” rating in a report on Thursday, October 31st. Loop Capital restated a “hold” rating and set a $113.00 target price on shares of Altair Engineering in a research report on Thursday, October 31st. Finally, Rosenblatt Securities restated a “neutral” rating and set a $113.00 target price on shares of Altair Engineering in a research report on Monday. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $100.83.

Hedge Funds Weigh In On Altair Engineering

A number of large investors have recently modified their holdings of ALTR. GAMMA Investing LLC lifted its position in Altair Engineering by 14.6% in the 4th quarter. GAMMA Investing LLC now owns 729 shares of the software’s stock worth $80,000 after buying an additional 93 shares during the last quarter. New York State Teachers Retirement System grew its holdings in Altair Engineering by 1.2% in the third quarter. New York State Teachers Retirement System now owns 8,500 shares of the software’s stock worth $812,000 after purchasing an additional 100 shares during the period. Louisiana State Employees Retirement System raised its position in shares of Altair Engineering by 0.6% in the 4th quarter. Louisiana State Employees Retirement System now owns 16,600 shares of the software’s stock worth $1,811,000 after purchasing an additional 100 shares during the last quarter. State of Michigan Retirement System raised its holdings in shares of Altair Engineering by 0.7% during the fourth quarter. State of Michigan Retirement System now owns 14,200 shares of the software’s stock valued at $1,549,000 after purchasing an additional 100 shares during the last quarter. Finally, Thrivent Financial for Lutherans raised its position in Altair Engineering by 0.7% in the fourth quarter. Thrivent Financial for Lutherans now owns 14,065 shares of the software’s stock worth $1,535,000 after acquiring an additional 104 shares during the period. 63.38% of the stock is currently owned by institutional investors.

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.