Altair Engineering Inc. (NASDAQ:ALTR) Shares Sold by Candriam S.C.A.

Candriam S.C.A. lessened its holdings in shares of Altair Engineering Inc. (NASDAQ:ALTR - Free Report) by 12.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 614,335 shares of the software's stock after selling 86,363 shares during the quarter. Candriam S.C.A. owned 0.72% of Altair Engineering worth $67,030,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. UMB Bank n.a. grew its position 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 stake in Altair Engineering by 14.6% during the 4th quarter. GAMMA Investing LLC now owns 729 shares of the software's stock valued at $80,000 after acquiring an additional 93 shares during the last quarter. Blue Trust Inc. boosted its stake in Altair Engineering by 185.5% during the 4th quarter. Blue Trust Inc. now owns 825 shares of the software's stock valued at $90,000 after acquiring an additional 536 shares during the last quarter. Van ECK Associates Corp grew its holdings in Altair Engineering by 28.5% during the 3rd quarter. Van ECK Associates Corp now owns 1,358 shares of the software's stock worth $130,000 after acquiring an additional 301 shares in the last quarter. Finally, KBC Group NV increased its position in shares of Altair Engineering by 17.9% in the 3rd quarter. KBC Group NV now owns 1,640 shares of the software's stock worth $157,000 after purchasing an additional 249 shares during the last quarter. 63.38% of the stock is currently owned by hedge funds and other institutional investors.

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Altair Engineering Trading Down 0.1 %

NASDAQ ALTR traded down $0.15 during trading hours on Monday, reaching $111.09. The company's stock had a trading volume of 653,902 shares, compared to its average volume of 640,329. The business has a 50-day simple moving average of $110.57 and a 200 day simple moving average of $103.19. Altair Engineering Inc. has a 52 week low of $75.71 and a 52 week high of $113.12. The stock has a market cap of $9.53 billion, a PE ratio of 653.47, a PEG ratio of 10.75 and a beta of 1.45.

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 (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 company had revenue of $192.63 million during the quarter, compared to the consensus estimate of $182.98 million. As a group, equities analysts predict that Altair Engineering Inc. will post 0.87 EPS for the current year.

Wall Street Analyst Weigh In

ALTR has been the subject of a number of research reports. Needham & Company LLC reiterated a "hold" rating on shares of Altair Engineering in a research note on Friday, February 21st. Rosenblatt Securities reaffirmed a "neutral" rating and set a $113.00 target price on shares of Altair Engineering in a report on Monday, February 24th. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. Based on data from MarketBeat, Altair Engineering has a consensus rating of "Hold" and an average target price of $100.83.

Insider Activity

In other Altair Engineering news, CMO Amy Messano sold 235 shares of the firm'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 $26,209.55. Following the sale, the chief marketing officer now owns 23,651 shares in the company, valued at approximately $2,637,796.03. This trade represents a 0.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CRO Nelson Dias sold 22,500 shares of the business's stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $106.23, for a total value of $2,390,175.00. Following the transaction, the executive now owns 48,437 shares of the company's stock, valued at approximately $5,145,462.51. This represents a 31.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 33,305 shares of company stock valued at $3,592,359. 21.75% of the stock is currently owned by company insiders.

Altair Engineering 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.