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

Altair Engineering Inc. (NASDAQ:ALTR) insider Jeffrey Marraccini sold 90 shares of Altair Engineering stock in a transaction 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 sale, the insider now owns 5,462 shares of the company’s stock, valued at approximately $607,920.60. This trade represents a 1.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible 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

Altair Engineering stock opened at $111.54 on Friday. The company has a market cap of $9.57 billion, a PE ratio of 656.12, a P/E/G ratio of 10.75 and a beta of 1.45. The company has a fifty day moving average price of $110.88 and a two-hundred day moving average price of $104.35. Altair Engineering Inc. has a 12 month low of $75.71 and a 12 month high of $113.12.

Altair Engineering (NASDAQ:ALTR) last released its quarterly earnings data on Thursday, February 20th. The software reported $0.36 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.15). The business 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%. Equities research analysts anticipate that Altair Engineering Inc. will post 0.87 earnings per share for the current year.

Hedge Funds Weigh In On Altair Engineering

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

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ALTR. Rosenblatt Securities restated a “neutral” rating and issued a $113.00 price target on shares of Altair Engineering in a research note on Monday, February 24th. Needham & Company LLC restated 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 given a hold rating to the stock. Based on data from MarketBeat, Altair Engineering has an average rating of “Hold” and a consensus price target 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.