Altair Engineering Inc. (NASDAQ:ALTR) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. decreased its position in Altair Engineering Inc. (NASDAQ:ALTR - Free Report) by 95.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 16,488 shares of the software's stock after selling 371,601 shares during the quarter. Victory Capital Management Inc.'s holdings in Altair Engineering were worth $1,799,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in ALTR. UMB Bank n.a. grew its holdings in shares of Altair Engineering by 77.0% during the fourth quarter. UMB Bank n.a. now owns 285 shares of the software's stock worth $31,000 after buying an additional 124 shares in the last quarter. GAMMA Investing LLC boosted its position in Altair Engineering by 14.6% during the fourth quarter. GAMMA Investing LLC now owns 729 shares of the software's stock worth $80,000 after acquiring an additional 93 shares during the last quarter. Blue Trust Inc. grew its stake in Altair Engineering by 185.5% in the 4th quarter. Blue Trust Inc. now owns 825 shares of the software's stock worth $90,000 after acquiring an additional 536 shares during the period. KBC Group NV raised its holdings in Altair Engineering by 17.9% in the 3rd quarter. KBC Group NV now owns 1,640 shares of the software's stock valued at $157,000 after acquiring an additional 249 shares during the last quarter. Finally, IFP Advisors Inc purchased a new position in shares of Altair Engineering during the 4th quarter worth $185,000. Institutional investors and hedge funds own 63.38% of the company's stock.

Altair Engineering Stock Up 0.2 %

Shares of NASDAQ ALTR traded up $0.21 during midday trading on Friday, hitting $111.75. The stock had a trading volume of 915,749 shares, compared to its average volume of 653,925. The company has a fifty day moving average price of $110.88 and a 200 day moving average price of $104.35. The company has a market capitalization of $9.59 billion, a price-to-earnings ratio of 657.32, 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.

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Altair Engineering (NASDAQ:ALTR - Get Free Report) last announced 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 business had revenue of $192.63 million for the quarter, compared to analyst estimates of $182.98 million. On average, research analysts forecast that Altair Engineering Inc. will post 0.87 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Needham & Company LLC reaffirmed a "hold" rating on shares of Altair Engineering in a research report on Friday, February 21st. Rosenblatt Securities reaffirmed a "neutral" rating and set a $113.00 price objective on shares of Altair Engineering in a research note on Monday, February 24th. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $100.83.

Insider Activity at Altair Engineering

In other news, CMO Amy Messano sold 235 shares of Altair Engineering stock in a transaction that occurred on Wednesday, February 26th. The shares were sold at an average price of $111.53, for a total transaction of $26,209.55. Following the sale, the chief marketing officer now owns 23,651 shares in the company, valued at $2,637,796.03. This trade represents a 0.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Teresa A. Harris sold 2,700 shares of the company's stock in a transaction 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 completion of the transaction, the director now owns 18,542 shares of the company's stock, valued at $2,069,472.62. This trade represents a 12.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 13,220 shares of company stock worth $1,470,974. 21.75% of the stock is currently owned by corporate insiders.

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.