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

Altair Engineering Inc. (NASDAQ:ALTR - Get Free Report) CMO Amy Messano sold 153 shares of Altair Engineering stock in a transaction on Wednesday, May 8th. The shares were sold at an average price of $84.38, for a total transaction 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 approximately $1,530,737.58. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Wednesday, March 13th, Amy Messano sold 112 shares of Altair Engineering stock. The shares were sold at an average price of $81.66, for a total value 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 value of $24,828.12.

Altair Engineering Stock Performance

Shares of Altair Engineering stock traded down $0.04 during trading hours on Friday, reaching $85.64. The company had a trading volume of 241,015 shares, compared to its average volume of 413,178. The firm has a market cap of $7.06 billion, a PE ratio of 952.00, a price-to-earnings-growth ratio of 10.86 and a beta of 1.42. Altair Engineering Inc. has a one year low of $57.59 and a one year high of $92.92. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.46 and a quick ratio of 2.46. The business has a fifty day simple moving average of $83.22 and a 200 day simple moving average of $79.88.

Altair Engineering (NASDAQ:ALTR - Get Free Report) last released its quarterly earnings data on Thursday, May 2nd. The software reported $0.40 EPS for the quarter, beating analysts' consensus estimates of $0.34 by $0.06. Altair Engineering had a net margin of 1.55% and a return on equity of 5.60%. The company had revenue of $172.91 million during the quarter, compared to analyst estimates of $169.29 million. During the same period last year, the business earned $0.13 earnings per share. Altair Engineering's revenue was up 4.1% compared to the same quarter last year. On average, analysts anticipate that Altair Engineering Inc. will post 0.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ALTR. Teachers Retirement System of The State of Kentucky bought a new stake in Altair Engineering during the third quarter worth about $1,049,000. Comerica Bank purchased a new stake in Altair Engineering in the third quarter worth approximately $11,051,000. Lazard Asset Management LLC grew its position in Altair Engineering by 168,148.1% during the third quarter. Lazard Asset Management LLC now owns 45,427 shares of the software's stock valued at $2,841,000 after acquiring an additional 45,400 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Altair Engineering by 4.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 415,538 shares of the software's stock worth $25,996,000 after acquiring an additional 16,075 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Altair Engineering by 22.8% in the 3rd quarter. Ameriprise Financial Inc. now owns 951,698 shares of the software's stock worth $59,538,000 after acquiring an additional 176,780 shares during the last quarter. Hedge funds and other institutional investors own 63.38% of the company's stock.

Wall Street Analyst Weigh In

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

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.