Natixis Advisors LLC Cuts Holdings in Altair Engineering Inc. (NASDAQ:ALTR)

Natixis Advisors LLC cut its holdings in shares of Altair Engineering Inc. (NASDAQ:ALTR - Free Report) by 19.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,821 shares of the software's stock after selling 3,500 shares during the quarter. Natixis Advisors LLC's holdings in Altair Engineering were worth $1,617,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ALTR. Thrivent Financial for Lutherans boosted its holdings in shares of Altair Engineering by 1.5% during the 3rd quarter. Thrivent Financial for Lutherans now owns 13,961 shares of the software's stock worth $1,333,000 after purchasing an additional 201 shares during the last quarter. Intech Investment Management LLC acquired a new position in Altair Engineering during the third quarter worth $1,084,000. Massachusetts Financial Services Co. MA increased its stake in shares of Altair Engineering by 31.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 392,343 shares of the software's stock worth $37,473,000 after acquiring an additional 94,219 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Altair Engineering by 9.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 505,470 shares of the software's stock worth $48,277,000 after acquiring an additional 42,592 shares during the last quarter. Finally, Citigroup Inc. raised its holdings in shares of Altair Engineering by 141.0% during the 3rd quarter. Citigroup Inc. now owns 50,518 shares of the software's stock worth $4,825,000 after acquiring an additional 29,556 shares during the period. Hedge funds and other institutional investors own 63.38% of the company's stock.

Remove Ads

Altair Engineering Price Performance

ALTR remained flat at $111.85 on Thursday. The company has a market cap of $9.60 billion, a price-to-earnings ratio of 657.94, a PEG ratio of 10.75 and a beta of 1.45. The business's 50 day moving average price is $111.02 and its 200 day moving average price is $105.17. Altair Engineering Inc. has a 1 year low of $75.71 and a 1 year high of $113.12.

Altair Engineering (NASDAQ:ALTR - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The software reported $0.36 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.15). The company had revenue of $192.63 million during the quarter, compared to analyst estimates of $182.98 million. Altair Engineering had a return on equity of 8.08% and a net margin of 2.13%. On average, sell-side analysts forecast that Altair Engineering Inc. will post 0.87 earnings per share for the current year.

Insider Transactions at Altair Engineering

In related news, CRO Nelson Dias sold 1,671 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $111.30, for a total transaction of $185,982.30. Following the transaction, the executive now owns 55,411 shares of the company's stock, valued at approximately $6,167,244.30. This represents a 2.93 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Teresa A. Harris sold 2,700 shares of Altair Engineering 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 transaction, the director now directly owns 18,542 shares of the company's stock, valued at approximately $2,069,472.62. This 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 worth $1,356,847 over the last ninety days. Company insiders own 21.75% of the company's stock.

Wall Street Analyst Weigh In

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

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.