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 on Wednesday, February 26th. The shares were sold at an average price of $111.53, for a total value of $26,209.55. Following the sale, the chief marketing officer now owns 23,651 shares of the company’s stock, valued at $2,637,796.03. This trade represents a 0.98 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Altair Engineering Price Performance

NASDAQ:ALTR opened at $111.60 on Friday. The stock’s 50-day moving average is $110.34 and its two-hundred day moving average is $102.26. The stock has a market cap of $9.50 billion, a PE ratio of 656.47, a price-to-earnings-growth ratio of 10.75 and a beta of 1.42. Altair Engineering Inc. has a fifty-two week low of $75.71 and a fifty-two week high of $113.12.

Altair Engineering (NASDAQ:ALTR) last announced 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 company had revenue of $192.63 million for the quarter, compared to analysts’ expectations of $182.98 million. On average, equities research analysts anticipate that Altair Engineering Inc. will post 0.87 earnings per share for the current year.

Wall Street Analyst Weigh In

ALTR has been the subject of several analyst reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Altair Engineering in a report on Friday, February 21st. Rosenblatt Securities reaffirmed a “neutral” rating and set a $113.00 price objective on shares of Altair Engineering in a research note on Monday, February 24th. Finally, Wolfe Research cut shares of Altair Engineering from a “strong-buy” rating to a “hold” rating in a report on Sunday, November 3rd. One equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $100.83.

Hedge Funds Weigh In On Altair Engineering

Hedge funds have recently modified their holdings of the stock. NBT Bank N A NY grew its stake in Altair Engineering by 76.4% in the fourth quarter. NBT Bank N A NY now owns 247 shares of the software’s stock valued at $27,000 after purchasing an additional 107 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Altair Engineering by 572.1% during the 3rd quarter. Blue Trust Inc. now owns 289 shares of the software’s stock worth $28,000 after purchasing an additional 246 shares in the last quarter. UMB Bank n.a. lifted its holdings in shares of Altair Engineering by 77.0% during the 4th quarter. UMB Bank n.a. now owns 285 shares of the software’s stock valued at $31,000 after buying an additional 124 shares during the last quarter. Johnson Financial Group Inc. bought a new stake in shares of Altair Engineering in the 4th quarter valued at approximately $37,000. Finally, GAMMA Investing LLC increased its holdings in Altair Engineering by 14.6% in the fourth 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. 63.38% of the stock is owned by institutional investors and hedge funds.

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.