Altair Engineering Inc. (NASDAQ:ALTR) Insider Sells $10,017.00 in Stock

Altair Engineering Inc. (NASDAQ:ALTR) insider Jeffrey Marraccini sold 90 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $111.30, for a total transaction of $10,017.00. Following the completion of the transaction, the insider now owns 5,462 shares in the company, valued at approximately $607,920.60. This trade represents a 1.62 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, 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 transaction of $21,955.65.

Altair Engineering Price Performance

ALTR opened at $111.75 on Friday. The company has a market cap of $9.59 billion, a price-to-earnings ratio of 657.35, a price-to-earnings-growth ratio of 10.75 and a beta of 1.45. The firm has a 50 day simple moving average of $110.91 and a 200 day simple moving average of $104.50. 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 posted its quarterly earnings results on Thursday, February 20th. The software reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.15). The business had revenue of $192.63 million for the quarter, compared to the consensus estimate of $182.98 million. Altair Engineering had a return on equity of 8.08% and a net margin of 2.13%. As a group, analysts expect that Altair Engineering Inc. will post 0.87 EPS for the current year.

Institutional Investors Weigh In On Altair Engineering

A number of institutional investors and hedge funds have recently modified their holdings of ALTR. KBC Group NV raised its stake in shares of Altair Engineering by 17.9% during the third quarter. KBC Group NV now owns 1,640 shares of the software’s stock worth $157,000 after buying an additional 249 shares during the last quarter. Thrivent Financial for Lutherans increased its stake in Altair Engineering by 1.5% in the third quarter. Thrivent Financial for Lutherans now owns 13,961 shares of the software’s stock valued at $1,333,000 after purchasing an additional 201 shares in the last quarter. Quest Partners LLC bought a new stake in Altair Engineering in the third quarter valued at approximately $617,000. King Luther Capital Management Corp increased its stake in Altair Engineering by 5.6% in the third quarter. King Luther Capital Management Corp now owns 174,733 shares of the software’s stock valued at $16,689,000 after purchasing an additional 9,310 shares in the last quarter. Finally, Intech Investment Management LLC bought a new stake in Altair Engineering in the third quarter valued at approximately $1,084,000. 63.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on ALTR shares. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $113.00 target price 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 given a hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price 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.