Altair Engineering Inc. (NASDAQ:ALTR) CMO Amy Messano Sells 19,852 Shares

Altair Engineering Inc. (NASDAQ:ALTR) CMO Amy Messano sold 19,852 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $90.51, for a total transaction of $1,796,804.52. Following the transaction, the chief marketing officer now directly owns 18,141 shares in the company, valued at $1,641,941.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 transaction 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 transaction of $9,145.92.
• On Monday, March 4th, Amy Messano sold 291 shares of Altair Engineering stock. The shares were sold at an average price of $85.32, for a total value of $24,828.12.

Altair Engineering Trading Up 0.1 %

Shares of Altair Engineering stock opened at $90.76 on Friday. Altair Engineering Inc. has a 1 year low of $57.59 and a 1 year high of $92.92. The company’s fifty day simple moving average is $84.52 and its 200-day simple moving average is $81.86. The company has a market cap of $7.54 billion, a price-to-earnings ratio of 1,008.44, a PEG ratio of 11.40 and a beta of 1.42. The company has a current ratio of 2.46, a quick ratio of 2.46 and a debt-to-equity ratio of 0.30.

Altair Engineering (NASDAQ:ALTR) last issued its quarterly earnings results on Thursday, May 2nd. The software reported $0.40 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.06. Altair Engineering had a net margin of 1.55% and a return on equity of 5.60%. The firm had revenue of $172.91 million during the quarter, compared to the consensus estimate of $169.29 million. During the same period in the prior year, the firm earned $0.13 EPS. The business’s revenue was up 4.1% on a year-over-year basis. As a group, sell-side analysts expect that Altair Engineering Inc. will post 0.66 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on ALTR shares. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $90.00 price target on shares of Altair Engineering in a research note on Thursday, March 21st. Oppenheimer raised their price objective on shares of Altair Engineering from $95.00 to $100.00 and gave the company an “outperform” rating in a research report on Friday, February 23rd. Rosenblatt Securities reissued a “neutral” rating and issued a $88.00 target price on shares of Altair Engineering in a research report on Monday, April 29th. Needham & Company LLC restated a “buy” rating and set a $100.00 price target on shares of Altair Engineering in a research note on Friday, May 3rd. Finally, JPMorgan Chase & Co. raised their price objective on Altair Engineering from $86.00 to $95.00 and gave the company an “overweight” rating in a research note on Tuesday, March 26th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $94.60.

Institutional Investors Weigh In On Altair Engineering

A number of institutional investors have recently added to or reduced their stakes in the company. Matrix Capital Management Company LP boosted its stake in Altair Engineering by 1.6% during the first quarter. Matrix Capital Management Company LP now owns 12,430,000 shares of the software’s stock worth $1,070,844,000 after buying an additional 196,826 shares in the last quarter. Vanguard Group Inc. lifted its stake in Altair Engineering by 3.2% during the first quarter. Vanguard Group Inc. now owns 5,944,285 shares of the software’s stock worth $512,100,000 after purchasing an additional 182,840 shares during the period. Conestoga Capital Advisors LLC boosted its holdings in Altair Engineering by 0.6% during 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 in the last quarter. Impax Asset Management Group plc grew its stake in shares of Altair Engineering by 6.9% in the 3rd quarter. Impax Asset Management Group plc now owns 2,130,550 shares of the software’s stock valued at $132,570,000 after purchasing an additional 137,933 shares during the period. Finally, Wellington Management Group LLP raised its holdings in shares of Altair Engineering by 97.3% in the 4th quarter. Wellington Management Group LLP now owns 1,182,339 shares of the software’s stock worth $99,494,000 after buying an additional 583,127 shares in the last quarter. 63.38% of the stock is owned by institutional investors and hedge funds.

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.