Vanguard Group Inc. increased its position in shares of Altair Engineering Inc. (NASDAQ:ALTR - Free Report) by 4.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,894,230 shares of the software's stock after acquiring an additional 317,575 shares during the quarter. Vanguard Group Inc. owned about 8.10% of Altair Engineering worth $752,229,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the company. State Street Corp raised its holdings in Altair Engineering by 3.3% in the third quarter. State Street Corp now owns 2,053,957 shares of the software's stock worth $196,173,000 after purchasing an additional 65,589 shares during the period. Geode Capital Management LLC increased its position in shares of Altair Engineering by 3.9% during the third quarter. Geode Capital Management LLC now owns 1,423,880 shares of the software's stock worth $136,020,000 after acquiring an additional 53,088 shares in the last quarter. Magnetar Financial LLC bought a new stake in shares of Altair Engineering during the fourth quarter worth $62,142,000. Charles Schwab Investment Management Inc. raised its holdings in shares of 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 acquiring an additional 42,592 shares during the period. Finally, Needham Investment Management LLC lifted its position in Altair Engineering by 19.3% in the 3rd quarter. Needham Investment Management LLC now owns 231,500 shares of the software's stock valued at $22,111,000 after acquiring an additional 37,500 shares in the last quarter. Institutional investors and hedge funds own 63.38% of the company's stock.
Insider Buying and Selling
In related news, CRO Nelson Dias sold 373 shares of Altair Engineering stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $111.53, for a total transaction of $41,600.69. Following the completion of the transaction, the executive now owns 57,573 shares in the company, valued at approximately $6,421,116.69. This trade represents a 0.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Teresa A. Harris sold 450 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $111.08, for a total value of $49,986.00. Following the completion of the sale, the director now owns 18,092 shares in the company, valued at $2,009,659.36. This represents a 2.43 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 12,172 shares of company stock worth $1,356,847. Insiders own 21.75% of the company's stock.
Analyst Upgrades and Downgrades
Several research firms have issued reports on ALTR. Rosenblatt Securities reissued 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 reissued a "hold" rating on shares of Altair Engineering in a research report on Friday, February 21st. One analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. According to MarketBeat.com, Altair Engineering presently has a consensus rating of "Hold" and an average price target of $100.83.
Read Our Latest Research Report on ALTR
Altair Engineering Price Performance
Shares of NASDAQ:ALTR remained flat at $111.85 during midday trading on Thursday. Altair Engineering Inc. has a 1 year low of $75.71 and a 1 year high of $113.12. The company has a market cap of $9.60 billion, a P/E ratio of 657.94, a PEG ratio of 10.75 and a beta of 1.45. The stock has a 50 day simple moving average of $111.20 and a 200 day simple moving average of $106.10.
Altair Engineering (NASDAQ:ALTR - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The software reported $0.36 earnings per share for the quarter, missing analysts' consensus estimates of $0.51 by ($0.15). Altair Engineering had a net margin of 2.13% and a return on equity of 8.08%. The company had revenue of $192.63 million during the quarter, compared to the consensus estimate of $182.98 million. As a group, sell-side analysts forecast that Altair Engineering Inc. will post 0.87 EPS for the current fiscal year.
About Altair Engineering
(
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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