Insider Selling: Altair Engineering Inc. (NASDAQ:ALTR) Insider Sells 197 Shares of Stock

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

Altair Engineering Trading Up 0.1 %

ALTR stock opened at $111.24 on Friday. Altair Engineering Inc. has a twelve month low of $75.71 and a twelve month high of $113.12. The company has a market capitalization of $9.54 billion, a P/E ratio of 654.35, a PEG ratio of 10.75 and a beta of 1.45. The firm has a 50 day simple moving average of $110.53 and a 200-day simple moving average of $102.84.

Altair Engineering (NASDAQ:ALTR) last released 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). Altair Engineering had a return on equity of 8.08% and a net margin of 2.13%. The company had revenue of $192.63 million for the quarter, compared to analyst estimates of $182.98 million. On average, research analysts predict that Altair Engineering Inc. will post 0.87 EPS for the current year.

Institutional Trading of Altair Engineering

A number of hedge funds have recently made changes to their positions in ALTR. Magnetar Financial LLC acquired a new stake in shares of Altair Engineering during the fourth quarter worth approximately $62,142,000. Norges Bank bought a new position in Altair Engineering during the fourth quarter worth $37,899,000. Schonfeld Strategic Advisors LLC lifted its stake in Altair Engineering by 13,097.8% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 331,528 shares of the software’s stock worth $36,173,000 after purchasing an additional 329,016 shares during the last quarter. Vanguard Group Inc. lifted its stake in Altair Engineering by 4.8% during the fourth quarter. Vanguard Group Inc. now owns 6,894,230 shares of the software’s stock worth $752,229,000 after purchasing an additional 317,575 shares during the last quarter. Finally, Woodline Partners LP bought a new position in Altair Engineering during the fourth quarter worth $32,733,000. Institutional investors and hedge funds own 63.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ALTR shares. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $113.00 price objective on shares of Altair Engineering in a research report on Monday, February 24th. Needham & Company LLC reaffirmed a “hold” rating on shares of Altair Engineering in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to data from MarketBeat, Altair Engineering currently has an average rating of “Hold” and an average target price of $100.83.

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.