Insider Selling: Altair Engineering Inc. (NASDAQ:ALTR) CMO Sells 255 Shares of Stock

Altair Engineering Inc. (NASDAQ:ALTR - Get Free Report) CMO Amy Messano sold 255 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $111.45, for a total transaction of $28,419.75. Following the completion of the sale, the chief marketing officer now directly owns 23,396 shares of the company's stock, valued at approximately $2,607,484.20. The trade was a 1.08 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Wednesday, February 26th, Amy Messano sold 235 shares of Altair Engineering stock. The shares were sold at an average price of $111.53, for a total transaction of $26,209.55.

Altair Engineering Stock Performance

NASDAQ:ALTR traded up $0.13 during trading hours on Friday, reaching $111.24. The company's stock had a trading volume of 658,832 shares, compared to its average volume of 794,160. The company has a market capitalization of $9.54 billion, a P/E ratio of 654.35, a price-to-earnings-growth ratio of 10.75 and a beta of 1.45. Altair Engineering Inc. has a 12 month low of $75.71 and a 12 month high of $113.12. The stock has a 50 day moving average price of $110.57 and a two-hundred day moving average price of $103.19.

Altair Engineering (NASDAQ:ALTR - Get Free Report) last released 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). Altair Engineering had a return on equity of 8.08% and a net margin of 2.13%. The firm had revenue of $192.63 million during the quarter, compared to analysts' expectations of $182.98 million. As a group, analysts predict that Altair Engineering Inc. will post 0.87 EPS for the current fiscal year.

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Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Rosenblatt Securities reaffirmed a "neutral" rating and set a $113.00 price target on shares of Altair Engineering in a research note on Monday, February 24th. Needham & Company LLC reaffirmed a "hold" rating on shares of Altair Engineering in a research note on Friday, February 21st. One investment analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $100.83.

Hedge Funds Weigh In On Altair Engineering

Several institutional investors and hedge funds have recently bought and sold shares of ALTR. Private Advisor Group LLC purchased a new stake in shares of Altair Engineering during the third quarter valued at $208,000. State of Alaska Department of Revenue grew its holdings 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 grew its holdings in shares of Altair Engineering by 1.2% during the third 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 grew its holdings 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 buying an additional 1,078 shares during the last quarter. Finally, Harbor Capital Advisors Inc. grew its holdings in shares of Altair Engineering by 2.9% during the third quarter. Harbor Capital Advisors Inc. now owns 10,017 shares of the software's stock valued at $957,000 after buying an additional 279 shares during the last quarter. 63.38% of the stock is owned by hedge funds and other institutional investors.

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.