Insider Selling: Altair Engineering Inc. (NASDAQ:ALTR) CMO Sells 153 Shares of Stock

Altair Engineering Inc. (NASDAQ:ALTR) CMO Amy Messano sold 153 shares of the stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $84.38, for a total value of $12,910.14. Following the completion of the sale, the chief marketing officer now owns 18,141 shares of the company’s stock, valued at $1,530,737.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Wednesday, March 13th, Amy Messano sold 112 shares of Altair Engineering stock. The stock was sold at an average price of $81.66, for a total transaction of $9,145.92.
• On Monday, March 4th, Amy Messano sold 291 shares of Altair Engineering stock. The stock was sold at an average price of $85.32, for a total transaction of $24,828.12.

Altair Engineering Price Performance

Shares of ALTR opened at $85.64 on Friday. The business’s fifty day moving average is $83.22 and its 200 day moving average is $80.19. Altair Engineering Inc. has a 12-month low of $57.59 and a 12-month high of $92.92. The company has a quick ratio of 2.46, a current ratio of 2.46 and a debt-to-equity ratio of 0.30. The stock has a market cap of $7.11 billion, a P/E ratio of 951.56, a P/E/G ratio of 10.90 and a beta of 1.42.

Altair Engineering (NASDAQ:ALTR) last released its quarterly earnings data on Thursday, May 2nd. The software reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.06. The firm had revenue of $172.91 million for the quarter, compared to the consensus estimate of $169.29 million. Altair Engineering had a net margin of 1.55% and a return on equity of 5.60%. The business’s revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.13 earnings per share. Sell-side analysts anticipate that Altair Engineering Inc. will post 0.66 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Altair Engineering

Several large investors have recently added to or reduced their stakes in ALTR. American International Group Inc. raised its stake in shares of Altair Engineering by 0.7% in the fourth quarter. American International Group Inc. now owns 27,018 shares of the software’s stock worth $2,274,000 after purchasing an additional 189 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Altair Engineering by 10.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,991 shares of the software’s stock worth $125,000 after buying an additional 190 shares in the last quarter. Natixis Advisors L.P. raised its position in Altair Engineering by 1.3% in the 4th quarter. Natixis Advisors L.P. now owns 17,333 shares of the software’s stock valued at $1,458,000 after buying an additional 229 shares during the last quarter. McGlone Suttner Wealth Management Inc. bought a new position in Altair Engineering during the 4th quarter valued at $31,000. Finally, New York Life Investment Management LLC boosted its holdings in Altair Engineering by 6.7% during the 4th quarter. New York Life Investment Management LLC now owns 5,982 shares of the software’s stock worth $503,000 after acquiring an additional 376 shares during the last quarter. Institutional investors own 63.38% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. JPMorgan Chase & Co. boosted their price target on Altair Engineering from $86.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, March 26th. Rosenblatt Securities reiterated a “neutral” rating and set a $88.00 target price on shares of Altair Engineering in a research report on Monday, April 29th. Royal Bank of Canada restated a “sector perform” rating and issued a $90.00 price target on shares of Altair Engineering in a report on Thursday, March 21st. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price target on shares of Altair Engineering in a research note on Friday, May 3rd. Finally, Oppenheimer increased their price objective on shares of Altair Engineering from $95.00 to $100.00 and gave the stock an “outperform” rating in a research report on Friday, February 23rd. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Altair Engineering presently has an average rating of “Moderate Buy” and a consensus price target of $94.60.

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.