Altair Engineering Inc. (NASDAQ:ALTR) Insider Sells $21,955.65 in Stock

Altair Engineering Inc. (NASDAQ:ALTR) insider Jeffrey Marraccini sold 197 shares of Altair Engineering stock in a transaction 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 owns 5,552 shares in the company, valued at approximately $618,770.40. This trade represents a 3.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Altair Engineering Stock Down 0.2 %

ALTR opened at $111.11 on Friday. Altair Engineering Inc. has a 52-week low of $75.71 and a 52-week high of $113.12. The company has a 50 day moving average of $110.49 and a two-hundred day moving average of $102.79. The company has a market cap of $9.53 billion, a P/E ratio of 653.59, a P/E/G ratio of 10.75 and a beta of 1.45.

Altair Engineering (NASDAQ:ALTR) 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. Research analysts anticipate that Altair Engineering Inc. will post 0.87 earnings per share for the current year.

Institutional Investors Weigh In On Altair Engineering

Several institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC grew its stake in Altair Engineering by 14.6% during 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 period. New York State Teachers Retirement System lifted its position 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 worth $812,000 after purchasing an additional 100 shares in the last quarter. Louisiana State Employees Retirement System lifted its position in shares of Altair Engineering by 0.6% during the fourth quarter. Louisiana State Employees Retirement System now owns 16,600 shares of the software’s stock worth $1,811,000 after purchasing an additional 100 shares in the last quarter. State of Michigan Retirement System lifted its position in shares of Altair Engineering by 0.7% during the fourth quarter. State of Michigan Retirement System now owns 14,200 shares of the software’s stock worth $1,549,000 after purchasing an additional 100 shares in the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in shares of Altair Engineering by 0.7% during the fourth quarter. Thrivent Financial for Lutherans now owns 14,065 shares of the software’s stock worth $1,535,000 after purchasing an additional 104 shares in the last quarter. 63.38% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on ALTR shares. Needham & Company LLC reaffirmed a “hold” rating on shares of Altair Engineering in a research report on Friday, February 21st. Rosenblatt Securities restated a “neutral” rating and set a $113.00 price target on shares of Altair Engineering in a research note on Monday, February 24th. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. According to data from MarketBeat.com, Altair Engineering 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.