Altair Engineering Inc. (NASDAQ:ALTR - Get Free Report) insider Jeffrey Marraccini sold 197 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $111.45, for a total transaction of $21,955.65. Following the completion of the transaction, the insider now directly owns 5,552 shares of the company's stock, valued at approximately $618,770.40. This represents 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
Altair Engineering stock traded up $0.13 during trading on Friday, reaching $111.24. The company had a trading volume of 658,832 shares, compared to its average volume of 794,160. Altair Engineering Inc. has a 12-month low of $75.71 and a 12-month high of $113.12. The stock's 50 day moving average price is $110.57 and its two-hundred day moving average price is $103.19. The firm has a market capitalization of $9.54 billion, a price-to-earnings ratio of 654.35, a PEG ratio of 10.75 and a beta of 1.45.
Altair Engineering (NASDAQ:ALTR - Get Free Report) last released 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). Altair Engineering had a return on equity of 8.08% and a net margin of 2.13%. The business had revenue of $192.63 million for the quarter, compared to analysts' expectations of $182.98 million. As a group, research analysts expect that Altair Engineering Inc. will post 0.87 earnings per share for the current year.
Wall Street Analyst Weigh In
A number of equities analysts have recently weighed in on ALTR shares. Needham & Company LLC reissued a "hold" rating on shares of Altair Engineering in a research report on Friday, February 21st. Rosenblatt Securities reissued a "neutral" rating and issued a $113.00 price objective on shares of Altair Engineering in a research report 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's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $100.83.
View Our Latest Stock Report on Altair Engineering
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in ALTR. Vanguard Group Inc. grew its stake in shares of Altair Engineering by 4.8% in the fourth quarter. Vanguard Group Inc. now owns 6,894,230 shares of the software's stock valued at $752,229,000 after buying an additional 317,575 shares in the last quarter. State Street Corp grew its position in Altair Engineering by 3.3% in the third quarter. State Street Corp now owns 2,053,957 shares of the software's stock valued at $196,173,000 after acquiring an additional 65,589 shares in the last quarter. Geode Capital Management LLC grew its position in Altair Engineering by 3.9% in the third quarter. Geode Capital Management LLC now owns 1,423,880 shares of the software's stock valued at $136,020,000 after acquiring an additional 53,088 shares in the last quarter. Northern Trust Corp raised its stake in shares of Altair Engineering by 9.2% during the fourth quarter. Northern Trust Corp now owns 751,191 shares of the software's stock valued at $81,962,000 after purchasing an additional 63,368 shares during the period. Finally, Dimensional Fund Advisors LP lifted its position in shares of Altair Engineering by 2.2% during the fourth quarter. Dimensional Fund Advisors LP now owns 591,573 shares of the software's stock worth $64,547,000 after purchasing an additional 12,585 shares in the last quarter. 63.38% of the stock is owned by hedge funds and other institutional investors.
About Altair Engineering
(
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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.
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