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

Altair Engineering Inc. (NASDAQ:ALTR) CMO Amy Messano sold 19,852 shares of the stock in a transaction that occurred on Tuesday, May 21st. The stock was sold at an average price of $90.51, for a total value of $1,796,804.52. Following the completion of the transaction, the chief marketing officer now directly owns 18,141 shares in the company, valued at approximately $1,641,941.91. The sale 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 shares were 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 value of $24,828.12.

Altair Engineering Stock Up 2.4 %

ALTR stock opened at $92.90 on Friday. The firm has a market cap of $7.71 billion, a PE ratio of 1,032.22, a PEG ratio of 11.40 and a beta of 1.42. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.46 and a current ratio of 2.46. The firm’s 50 day moving average price is $84.80 and its 200-day moving average price is $82.04. Altair Engineering Inc. has a one year low of $57.59 and a one year high of $92.98.

Altair Engineering (NASDAQ:ALTR) last announced its earnings results on Thursday, May 2nd. The software reported $0.40 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.06. The company had revenue of $172.91 million for the quarter, compared to analyst estimates of $169.29 million. Altair Engineering had a return on equity of 5.60% and a net margin of 1.55%. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.13 earnings per share. On average, equities research analysts anticipate that Altair Engineering Inc. will post 0.66 EPS for the current year.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Altair Engineering

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Comerica Bank increased its position in shares of Altair Engineering by 0.9% during the first quarter. Comerica Bank now owns 178,601 shares of the software’s stock worth $15,386,000 after acquiring an additional 1,594 shares during the period. Jane Street Group LLC boosted its stake in Altair Engineering by 960.2% in the first quarter. Jane Street Group LLC now owns 303,672 shares of the software’s stock valued at $26,161,000 after acquiring an additional 275,030 shares in the last quarter. Epoch Investment Partners Inc. purchased a new stake in shares of Altair Engineering in the first quarter valued at about $2,726,000. Matrix Capital Management Company LP raised its holdings in shares of Altair Engineering by 1.6% in the first 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. Finally, Carlson Capital L P purchased a new stake in shares of Altair Engineering in the first quarter valued at about $3,627,000. Hedge funds and other institutional investors own 63.38% of the company’s stock.

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.