KLP Kapitalforvaltning AS Buys New Shares in Altair Engineering Inc. (NASDAQ:ALTR)

KLP Kapitalforvaltning AS acquired a new stake in Altair Engineering Inc. (NASDAQ:ALTR - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The firm acquired 12,300 shares of the software's stock, valued at approximately $1,342,000.

Other hedge funds have also recently modified their holdings of the company. GAMMA Investing LLC grew its holdings in shares of Altair Engineering by 14.6% in the fourth quarter. GAMMA Investing LLC now owns 729 shares of the software's stock valued at $80,000 after acquiring an additional 93 shares in the last quarter. Louisiana State Employees Retirement System grew its stake in Altair Engineering by 0.6% in the 4th quarter. Louisiana State Employees Retirement System now owns 16,600 shares of the software's stock valued at $1,811,000 after purchasing an additional 100 shares during the period. New York State Teachers Retirement System increased its position in shares of Altair Engineering by 1.2% during the 4th quarter. New York State Teachers Retirement System now owns 8,600 shares of the software's stock valued at $938,000 after purchasing an additional 100 shares during the last quarter. State of Michigan Retirement System raised its stake in shares of Altair Engineering by 0.7% during the 4th quarter. State of Michigan Retirement System now owns 14,200 shares of the software's stock worth $1,549,000 after purchasing an additional 100 shares during the period. Finally, Thrivent Financial for Lutherans boosted its holdings in shares of Altair Engineering by 0.7% in the 4th quarter. Thrivent Financial for Lutherans now owns 14,065 shares of the software's stock worth $1,535,000 after buying an additional 104 shares during the last quarter. Institutional investors own 63.38% of the company's stock.

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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 value of $301,347.00. Following the sale, the director now directly 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 of the company's stock, valued at approximately $2,637,796.03. The trade was a 0.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,172 shares of company stock valued at $1,356,847 in the last 90 days. Corporate insiders own 21.75% of the company's stock.

Altair Engineering Price Performance

NASDAQ:ALTR remained flat at $111.85 during mid-day trading on Thursday. The firm has a 50 day moving average price of $111.20 and a 200-day moving average price of $106.10. 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. Altair Engineering Inc. has a 12 month low of $75.71 and a 12 month high of $113.12.

Altair Engineering (NASDAQ:ALTR - Get Free Report) last released 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). Altair Engineering had a net margin of 2.13% and a return on equity of 8.08%. The firm had revenue of $192.63 million for the quarter, compared to analysts' expectations 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.

Wall Street Analysts Forecast Growth

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

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.