Altair Engineering Inc. (NASDAQ:ALTR) Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp trimmed its holdings in shares of Altair Engineering Inc. (NASDAQ:ALTR - Free Report) by 9.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 158,402 shares of the software's stock after selling 16,331 shares during the quarter. King Luther Capital Management Corp owned 0.19% of Altair Engineering worth $17,283,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of ALTR. State Street Corp grew its position in shares of Altair Engineering by 3.3% during the 3rd 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 during the last quarter. Geode Capital Management LLC boosted 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 acquiring an additional 53,088 shares during the period. Charles Schwab Investment Management Inc. grew 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 valued at $48,277,000 after purchasing an additional 42,592 shares during the last quarter. Fisher Asset Management LLC raised 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 purchasing an additional 85,303 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Altair Engineering by 31.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 392,343 shares of the software's stock worth $37,473,000 after purchasing an additional 94,219 shares during the period. 63.38% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Altair Engineering

In related news, Director Teresa A. Harris sold 2,700 shares of the firm's stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $111.61, for a total transaction of $301,347.00. Following the transaction, the director now owns 18,542 shares in the company, valued at $2,069,472.62. This trade represents a 12.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Matthew Charles Brown sold 1,048 shares of the business's stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $108.90, for a total value of $114,127.20. Following the sale, the chief financial officer now directly owns 55,519 shares in the company, valued at approximately $6,046,019.10. The trade was a 1.85 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,805 shares of company stock valued at $1,202,184. Company insiders own 21.75% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ALTR shares. Rosenblatt Securities restated a "neutral" rating and set a $113.00 price objective on shares of Altair Engineering in a research report on Monday, February 24th. Needham & Company LLC reissued a "hold" rating on shares of Altair Engineering in a report on Friday, February 21st. One investment analyst has rated the stock with a sell rating and seven have issued a hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $100.83.

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Altair Engineering Price Performance

ALTR opened at $111.34 on Wednesday. Altair Engineering Inc. has a 12 month low of $75.71 and a 12 month high of $113.12. The stock's 50 day moving average price is $110.66 and its 200 day moving average price is $103.49. The stock has a market cap of $9.55 billion, a P/E ratio of 654.94, a P/E/G ratio of 10.75 and a beta of 1.45.

Altair Engineering (NASDAQ:ALTR - Get Free Report) last issued its quarterly earnings results 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 for the quarter, compared to analyst estimates of $182.98 million. Altair Engineering had a net margin of 2.13% and a return on equity of 8.08%. Equities analysts anticipate that Altair Engineering Inc. will post 0.87 EPS for the current year.

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.

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