Altair Engineering Inc. (NASDAQ:ALTR) Insider Jeffrey Marraccini Sells 90 Shares of Stock

Altair Engineering Inc. (NASDAQ:ALTR) insider Jeffrey Marraccini sold 90 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $111.30, for a total value of $10,017.00. Following the completion of the sale, the insider now owns 5,462 shares in the company, valued at approximately $607,920.60. The trade was a 1.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Jeffrey Marraccini also recently made the following trade(s):

• On Monday, March 3rd, Jeffrey Marraccini sold 197 shares of Altair Engineering stock. The shares were sold at an average price of $111.45, for a total value of $21,955.65.

Altair Engineering Price Performance

Altair Engineering stock opened at $111.67 on Thursday. The company has a market cap of $9.58 billion, a price-to-earnings ratio of 656.88, a price-to-earnings-growth ratio of 10.75 and a beta of 1.45. The stock’s 50-day moving average is $110.86 and its 200-day moving average is $104.30. Altair Engineering Inc. has a 12 month low of $75.71 and a 12 month high of $113.12.

Altair Engineering (NASDAQ:ALTR) last issued 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 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 analyst estimates of $182.98 million. Research analysts anticipate that Altair Engineering Inc. will post 0.87 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ALTR shares. Rosenblatt Securities reiterated a “neutral” rating and set a $113.00 price target on shares of Altair Engineering in a report on Monday, February 24th. Needham & Company LLC restated a “hold” rating on shares of Altair Engineering in a research note on Friday, February 21st. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $100.83.

Institutional Investors Weigh In On Altair Engineering

A number of hedge funds have recently added to or reduced their stakes in the stock. Fisher Asset Management LLC increased its holdings in shares of Altair Engineering by 27.0% during the third quarter. Fisher Asset Management LLC now owns 401,612 shares of the software’s stock valued at $38,358,000 after purchasing an additional 85,303 shares during the period. Principal Financial Group Inc. raised its holdings in Altair Engineering by 1.7% during the fourth 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 in the last quarter. Citigroup Inc. boosted its stake in 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 purchasing an additional 29,556 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Altair Engineering in the third quarter valued at $1,356,000. Finally, UMB Bank n.a. boosted its position 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 purchasing an additional 124 shares in the last quarter. 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.