Insider Selling: Altair Engineering Inc. (NASDAQ:ALTR) CMO Sells $1,796,804.52 in Stock

Altair Engineering Inc. (NASDAQ:ALTR) CMO Amy Messano sold 19,852 shares of the stock in a transaction on Tuesday, May 21st. The shares were sold at an average price of $90.51, for a total value of $1,796,804.52. Following the completion of the sale, the chief marketing officer now owns 18,141 shares of the company’s stock, valued at approximately $1,641,941.91. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

• On Wednesday, May 8th, Amy Messano sold 153 shares of Altair Engineering stock. The shares were sold at an average price of $84.38, for a total value of $12,910.14.
• 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 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 transaction of $24,828.12.

Altair Engineering Trading Up 2.4 %

Altair Engineering stock opened at $92.90 on Friday. Altair Engineering Inc. has a one year low of $57.59 and a one year high of $92.98. The company’s fifty day moving average price is $84.80 and its two-hundred day moving average price is $82.13. 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 company has a market capitalization of $7.71 billion, a price-to-earnings ratio of 1,032.22, a PEG ratio of 11.42 and a beta of 1.42.

Altair Engineering (NASDAQ:ALTR) last issued 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 return on equity of 5.60% and a net margin of 1.55%. The business had revenue of $172.91 million for the quarter, compared to analyst estimates of $169.29 million. During the same quarter in the prior year, the firm posted $0.13 EPS. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. On average, analysts forecast that Altair Engineering Inc. will post 0.66 earnings per share for the current fiscal year.

Institutional Trading of Altair Engineering

A number of institutional investors and hedge funds have recently modified their holdings of ALTR. Matrix Capital Management Company LP grew its stake in Altair Engineering by 1.6% in the 1st quarter. Matrix Capital Management Company LP now owns 12,430,000 shares of the software’s stock valued at $1,070,844,000 after buying an additional 196,826 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Altair Engineering by 3.2% in the first quarter. Vanguard Group Inc. now owns 5,944,285 shares of the software’s stock valued at $512,100,000 after purchasing an additional 182,840 shares during the last quarter. Conestoga Capital Advisors LLC grew its position in shares of Altair Engineering by 0.6% in the first quarter. Conestoga Capital Advisors LLC now owns 2,440,081 shares of the software’s stock valued at $210,213,000 after purchasing an additional 15,370 shares during the last quarter. Impax Asset Management Group plc increased its stake in shares of Altair Engineering by 6.9% in the third quarter. Impax Asset Management Group plc now owns 2,130,550 shares of the software’s stock worth $132,570,000 after purchasing an additional 137,933 shares during the period. Finally, Wellington Management Group LLP lifted its position in shares of Altair Engineering by 97.3% during the 4th quarter. Wellington Management Group LLP now owns 1,182,339 shares of the software’s stock worth $99,494,000 after purchasing an additional 583,127 shares during the last quarter. 63.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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