Natixis Advisors LLC cut its stake in Altair Engineering Inc. (NASDAQ:ALTR - Free Report) by 19.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,821 shares of the software's stock after selling 3,500 shares during the period. Natixis Advisors LLC's holdings in Altair Engineering were worth $1,617,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of ALTR. State Street Corp raised its stake in Altair Engineering by 3.3% during the third quarter. State Street Corp now owns 2,053,957 shares of the software's stock worth $196,173,000 after acquiring an additional 65,589 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Altair Engineering by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,423,880 shares of the software's stock worth $136,020,000 after purchasing an additional 53,088 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Altair Engineering by 9.2% during the 3rd 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 boosted its position in Altair Engineering by 27.0% in the third quarter. Fisher Asset Management LLC now owns 401,612 shares of the software's stock valued at $38,358,000 after buying an additional 85,303 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in Altair Engineering by 31.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 392,343 shares of the software's stock worth $37,473,000 after buying an additional 94,219 shares during the last quarter. Institutional investors own 63.38% of the company's stock.
Wall Street Analysts Forecast Growth
Several research analysts have recently commented on the company. Rosenblatt Securities reissued a "neutral" rating and issued a $113.00 target price on shares of Altair Engineering in a report on Monday, February 24th. Needham & Company LLC reissued a "hold" rating on shares of Altair Engineering in a research note on Friday, February 21st. One analyst has rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat, the company currently has an average rating of "Hold" and an average target price of $100.83.
Get Our Latest Stock Analysis on Altair Engineering
Altair Engineering Price Performance
Shares of NASDAQ ALTR remained flat at $111.85 during midday trading on Friday. The company has a market cap of $9.60 billion, a price-to-earnings ratio of 657.94, a price-to-earnings-growth ratio of 10.75 and a beta of 1.45. Altair Engineering Inc. has a twelve month low of $75.71 and a twelve month high of $113.12. The business has a 50-day simple moving average of $111.06 and a 200-day simple moving average of $105.22.
Altair Engineering (NASDAQ:ALTR - Get Free Report) last announced its quarterly earnings data 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 return on equity of 8.08% and a net margin of 2.13%. The firm had revenue of $192.63 million during the quarter, compared to analyst estimates of $182.98 million. On average, equities research analysts forecast that Altair Engineering Inc. will post 0.87 EPS for the current year.
Insider Buying and Selling
In other Altair Engineering news, CFO Matthew Charles Brown sold 3,811 shares of the firm's stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $111.53, for a total transaction of $425,040.83. Following the transaction, the chief financial officer now owns 69,394 shares in the company, valued at approximately $7,739,512.82. This trade represents a 5.21 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Teresa A. Harris sold 2,700 shares of the company's stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $111.61, for a total value of $301,347.00. Following the completion of the sale, the director now directly owns 18,542 shares of the company's stock, valued at approximately $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. Insiders sold a total of 12,172 shares of company stock valued at $1,356,847 over the last ninety days. Insiders own 21.75% of the company's stock.
Altair Engineering Company Profile
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Free Report)
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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