AlphaQuest LLC reduced its position in shares of Altair Engineering Inc. (NASDAQ:ALTR - Free Report) by 63.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,364 shares of the software's stock after selling 4,095 shares during the period. AlphaQuest LLC's holdings in Altair Engineering were worth $258,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of ALTR. State Street Corp grew its stake in shares of Altair Engineering by 3.3% in the third quarter. State Street Corp now owns 2,053,957 shares of the software's stock valued at $196,173,000 after buying an additional 65,589 shares in the last quarter. Geode Capital Management LLC raised its stake in Altair Engineering by 3.9% in the third quarter. Geode Capital Management LLC now owns 1,423,880 shares of the software's stock valued at $136,020,000 after buying an additional 53,088 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Altair Engineering by 9.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 505,470 shares of the software's stock worth $48,277,000 after purchasing an additional 42,592 shares during the last quarter. Fisher Asset Management LLC lifted its position in shares of Altair Engineering by 27.0% during the 3rd quarter. Fisher Asset Management LLC now owns 401,612 shares of the software's stock worth $38,358,000 after buying an additional 85,303 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in Altair Engineering by 31.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 392,343 shares of the software's stock valued at $37,473,000 after acquiring an additional 94,219 shares in the last quarter. 63.38% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Altair Engineering
In related news, Director Teresa A. Harris sold 2,700 shares of the business's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $111.61, for a total value of $301,347.00. Following the completion of the sale, the director now directly owns 18,542 shares of the company's stock, valued at $2,069,472.62. The trade was a 12.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CRO Nelson Dias sold 373 shares of the business's stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $111.53, for a total value of $41,600.69. Following the completion of the sale, the executive now owns 57,573 shares of the company's stock, valued at $6,421,116.69. This trade represents a 0.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,220 shares of company stock worth $1,470,974 in the last ninety days. 21.75% of the stock is owned by insiders.
Altair Engineering Stock Performance
NASDAQ ALTR traded up $0.25 during mid-day trading on Wednesday, reaching $111.69. 882,222 shares of the stock were exchanged, compared to its average volume of 781,345. The stock has a market capitalization of $9.58 billion, a PE ratio of 656.97, a PEG ratio of 10.75 and a beta of 1.45. Altair Engineering Inc. has a 1-year low of $75.71 and a 1-year high of $113.12. The business's fifty day simple moving average is $110.83 and its 200 day simple moving average is $104.25.
Altair Engineering (NASDAQ:ALTR - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The software reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.15). Altair Engineering had a return on equity of 8.08% and a net margin of 2.13%. The business had revenue of $192.63 million for the quarter, compared to analysts' expectations of $182.98 million. On average, analysts anticipate that Altair Engineering Inc. will post 0.87 EPS for the current year.
Analyst Upgrades and Downgrades
ALTR has been the subject of several analyst reports. Needham & Company LLC reaffirmed a "hold" rating on shares of Altair Engineering in a research note on Friday, February 21st. Rosenblatt Securities reiterated a "neutral" rating and issued a $113.00 price objective on shares of Altair Engineering in a research note on Monday, February 24th. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $100.83.
Read Our Latest Stock Analysis on Altair Engineering
Altair Engineering Company Profile
(
Free Report)
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.
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