Altair Engineering Inc. (NASDAQ:ALTR) Insider Jeffrey Marraccini Sells 90 Shares

Altair Engineering Inc. (NASDAQ:ALTR) insider Jeffrey Marraccini sold 90 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was 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 of the company’s stock, valued at $607,920.60. This trade represents a 1.62 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Jeffrey Marraccini also recently made the following trade(s):

• On Monday, March 3rd, Jeffrey Marraccini sold 197 shares of Altair Engineering stock. The stock was sold at an average price of $111.45, for a total transaction of $21,955.65.

Altair Engineering Price Performance

Shares of Altair Engineering stock traded up $0.10 on Wednesday, hitting $111.54. 326,965 shares of the company’s stock traded hands, compared to its average volume of 645,046. The firm’s 50-day moving average price is $110.83 and its two-hundred day moving average price is $104.25. The stock has a market capitalization of $9.57 billion, a PE ratio of 656.06, a price-to-earnings-growth ratio of 10.75 and a beta of 1.45. Altair Engineering Inc. has a one year low of $75.71 and a one year high of $113.12.

Altair Engineering (NASDAQ:ALTR) last issued its earnings results on Thursday, February 20th. The software reported $0.36 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.15). Altair Engineering had a net margin of 2.13% and a return on equity of 8.08%. The business had revenue of $192.63 million for the quarter, compared to the consensus estimate of $182.98 million. On average, analysts forecast that Altair Engineering Inc. will post 0.87 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Altair Engineering

Institutional investors and hedge funds have recently made changes to their positions in the company. NBT Bank N A NY grew its holdings in shares of Altair Engineering by 76.4% in the 4th quarter. NBT Bank N A NY now owns 247 shares of the software’s stock valued at $27,000 after buying an additional 107 shares during the period. UMB Bank n.a. grew its holdings in shares of Altair Engineering by 77.0% in the 4th quarter. UMB Bank n.a. now owns 285 shares of the software’s stock valued at $31,000 after buying an additional 124 shares during the period. Johnson Financial Group Inc. acquired a new position in shares of Altair Engineering in the 4th quarter valued at $37,000. GAMMA Investing LLC grew its holdings in shares of Altair Engineering by 14.6% in the 4th quarter. GAMMA Investing LLC now owns 729 shares of the software’s stock valued at $80,000 after buying an additional 93 shares during the period. Finally, Blue Trust Inc. grew its holdings in shares of Altair Engineering by 185.5% in the 4th quarter. Blue Trust Inc. now owns 825 shares of the software’s stock valued at $90,000 after buying an additional 536 shares during the period. Institutional investors and hedge funds own 63.38% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Needham & Company LLC restated a “hold” rating on shares of Altair Engineering in a research report on Friday, February 21st. Rosenblatt Securities restated a “neutral” rating and issued a $113.00 price objective on shares of Altair Engineering in a research report 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. Based on data from MarketBeat, the company presently has an average 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.