Altair Engineering Inc. (NASDAQ:ALTR) Insider Jeffrey Marraccini Sells 197 Shares

Altair Engineering Inc. (NASDAQ:ALTR) insider Jeffrey Marraccini sold 197 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $111.45, for a total value of $21,955.65. Following the transaction, the insider now directly owns 5,552 shares in the company, valued at approximately $618,770.40. This represents a 3.43 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website.

Altair Engineering Stock Up 0.0 %

Shares of ALTR traded up $0.05 on Wednesday, hitting $111.39. The company’s stock had a trading volume of 135,343 shares, compared to its average volume of 760,628. The firm’s fifty day moving average price is $110.44 and its 200-day moving average price is $102.73. Altair Engineering Inc. has a fifty-two week low of $75.71 and a fifty-two week high of $113.12. The firm has a market capitalization of $9.56 billion, a price-to-earnings ratio of 655.38, a P/E/G ratio of 10.75 and a beta of 1.45.

Altair Engineering (NASDAQ:ALTR) last announced its 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 company had revenue of $192.63 million during the quarter, compared to analyst estimates of $182.98 million. Altair Engineering had a return on equity of 8.08% and a net margin of 2.13%. As a group, equities analysts predict that Altair Engineering Inc. will post 0.87 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ALTR. Rosenblatt Securities reaffirmed a “neutral” rating and set a $113.00 price target on shares of Altair Engineering in a research note on Monday, February 24th. Needham & Company LLC reissued a “hold” rating on shares of Altair Engineering in a research note on Friday, February 21st. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. Based on data from MarketBeat.com, Altair Engineering presently has a consensus rating of “Hold” and an average price target of $100.83.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. NBT Bank N A NY boosted its stake in shares of Altair Engineering by 76.4% during the 4th quarter. NBT Bank N A NY now owns 247 shares of the software’s stock worth $27,000 after acquiring an additional 107 shares during the period. UMB Bank n.a. lifted its position in Altair Engineering by 77.0% during the fourth quarter. UMB Bank n.a. now owns 285 shares of the software’s stock worth $31,000 after acquiring an additional 124 shares during the last quarter. Johnson Financial Group Inc. bought a new stake in shares of Altair Engineering during the fourth quarter worth approximately $37,000. GAMMA Investing LLC grew its position in shares of Altair Engineering by 14.6% in the fourth quarter. GAMMA Investing LLC now owns 729 shares of the software’s stock valued at $80,000 after purchasing an additional 93 shares during the last quarter. Finally, Blue Trust Inc. lifted its holdings in Altair Engineering by 185.5% during the 4th quarter. Blue Trust Inc. now owns 825 shares of the software’s stock worth $90,000 after purchasing an additional 536 shares during the last quarter. Institutional investors own 63.38% of the company’s stock.

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.