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

AXA S.A. reduced its stake in shares of Altair Engineering Inc. (NASDAQ:ALTR - Free Report) by 1.8% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 715,538 shares of the software's stock after selling 12,829 shares during the period. AXA S.A. owned approximately 0.86% of Altair Engineering worth $70,180,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in shares of Altair Engineering by 81.7% during the 2nd quarter. GAMMA Investing LLC now owns 418 shares of the software's stock worth $41,000 after acquiring an additional 188 shares in the last quarter. FSC Wealth Advisors LLC boosted its stake in shares of Altair Engineering by 41.3% during the 2nd quarter. FSC Wealth Advisors LLC now owns 832 shares of the software's stock worth $82,000 after acquiring an additional 243 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Altair Engineering by 41.7% during the 2nd quarter. Van ECK Associates Corp now owns 1,057 shares of the software's stock worth $104,000 after acquiring an additional 311 shares in the last quarter. Natixis Investment Managers International boosted its stake in shares of Altair Engineering by 68.7% during the 4th quarter. Natixis Investment Managers International now owns 1,940 shares of the software's stock worth $163,000 after acquiring an additional 790 shares in the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Altair Engineering during the 1st quarter worth about $177,000. 63.38% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO James Ralph Scapa sold 13,000 shares of the firm's stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $98.26, for a total transaction of $1,277,380.00. Following the completion of the sale, the chief executive officer now owns 134,045 shares in the company, valued at approximately $13,171,261.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO James Ralph Scapa sold 13,000 shares of the firm's stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $98.26, for a total transaction of $1,277,380.00. Following the completion of the sale, the chief executive officer now owns 134,045 shares in the company, valued at approximately $13,171,261.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Jrs Investments Llc sold 6,500 shares of the firm's stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $88.11, for a total transaction of $572,715.00. The disclosure for this sale can be found here. Insiders have sold 53,860 shares of company stock valued at $4,899,205 in the last ninety days. 21.75% of the stock is currently owned by corporate insiders.

Altair Engineering Price Performance

ALTR traded up $0.86 during trading on Thursday, reaching $95.06. The company's stock had a trading volume of 237,638 shares, compared to its average volume of 475,009. The company has a quick ratio of 3.14, a current ratio of 3.14 and a debt-to-equity ratio of 0.29. The firm has a fifty day simple moving average of $88.86 and a two-hundred day simple moving average of $88.81. Altair Engineering Inc. has a 1 year low of $57.59 and a 1 year high of $101.39. The company has a market cap of $8.07 billion, a price-to-earnings ratio of 1,046.67, a PEG ratio of 12.01 and a beta of 1.45.

Altair Engineering (NASDAQ:ALTR - Get Free Report) last released its earnings results on Thursday, August 1st. The software reported $0.16 earnings per share for the quarter, topping analysts' consensus estimates of $0.15 by $0.01. Altair Engineering had a net margin of 4.26% and a return on equity of 6.89%. The business had revenue of $148.80 million for the quarter, compared to analyst estimates of $146.88 million. During the same period last year, the company posted ($0.15) EPS. The business's revenue was up 5.4% on a year-over-year basis. As a group, analysts anticipate that Altair Engineering Inc. will post 0.65 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. JPMorgan Chase & Co. lowered shares of Altair Engineering from an "overweight" rating to a "neutral" rating and set a $95.00 target price on the stock. in a research note on Monday, July 15th. The Goldman Sachs Group lowered shares of Altair Engineering from a "neutral" rating to a "sell" rating and lowered their target price for the stock from $85.00 to $71.00 in a research note on Friday, August 2nd. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $100.00 price target on shares of Altair Engineering in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $90.67.

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.