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

Altair Engineering Inc. (NASDAQ:ALTR - Get Free Report) CMO Amy Messano sold 235 shares of the firm's stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $111.53, for a total value of $26,209.55. Following the transaction, the chief marketing officer now directly owns 23,651 shares in the company, valued at $2,637,796.03. This trade represents a 0.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Altair Engineering Price Performance

ALTR stock traded down $0.09 on Tuesday, reaching $111.34. 645,460 shares of the company traded hands, compared to its average volume of 775,911. The firm has a fifty day simple moving average of $110.39 and a 200-day simple moving average of $102.59. The company has a market cap of $9.55 billion, a P/E ratio of 654.94, a price-to-earnings-growth ratio of 10.75 and a beta of 1.45. Altair Engineering Inc. has a one year low of $75.71 and a one year high of $113.12.

Altair Engineering (NASDAQ:ALTR - Get Free Report) last issued its 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 firm had revenue of $192.63 million during the quarter, compared to the consensus estimate of $182.98 million. Altair Engineering had a return on equity of 8.08% and a net margin of 2.13%. On average, sell-side analysts forecast that Altair Engineering Inc. will post 0.87 EPS for the current year.

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Institutional Investors Weigh In On Altair Engineering

Institutional investors have recently modified their holdings of the business. Fisher Asset Management LLC lifted its stake in Altair Engineering by 27.0% during the 3rd quarter. Fisher Asset Management LLC now owns 401,612 shares of the software's stock valued at $38,358,000 after acquiring an additional 85,303 shares during the period. Principal Financial Group Inc. grew its position in Altair Engineering by 1.7% in the 4th quarter. Principal Financial Group Inc. now owns 168,665 shares of the software's stock worth $18,403,000 after purchasing an additional 2,872 shares during the period. Citigroup Inc. lifted its holdings in shares of Altair Engineering by 141.0% during the 3rd quarter. Citigroup Inc. now owns 50,518 shares of the software's stock valued at $4,825,000 after buying an additional 29,556 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in shares of Altair Engineering in the third quarter worth $1,356,000. Finally, Versor Investments LP bought a new stake in shares of Altair Engineering during the 3rd quarter valued at about $487,000. 63.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ALTR. Needham & Company LLC reissued a "hold" rating on shares of Altair Engineering in a research note on Friday, February 21st. Rosenblatt Securities reaffirmed a "neutral" rating and set a $113.00 target price on shares of Altair Engineering in a research note on Monday, February 24th. One equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target 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.