Swiss National Bank raised its position in Altair Engineering Inc. (NASDAQ:ALTR - Free Report) by 5.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 116,900 shares of the software's stock after purchasing an additional 5,700 shares during the quarter. Swiss National Bank owned about 0.14% of Altair Engineering worth $12,755,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Fisher Asset Management LLC boosted its holdings in Altair Engineering by 27.0% in the 3rd quarter. Fisher Asset Management LLC now owns 401,612 shares of the software's stock valued at $38,358,000 after purchasing an additional 85,303 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Altair Engineering by 1.7% in the 4th quarter. Principal Financial Group Inc. now owns 168,665 shares of the software's stock valued at $18,403,000 after acquiring an additional 2,872 shares during the period. Citigroup Inc. raised its stake in shares of Altair Engineering by 141.0% in the 3rd quarter. Citigroup Inc. now owns 50,518 shares of the software's stock valued at $4,825,000 after acquiring an additional 29,556 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Altair Engineering in the 3rd quarter valued at approximately $1,356,000. Finally, UMB Bank n.a. raised its stake in shares of Altair Engineering by 77.0% in the 4th quarter. UMB Bank n.a. now owns 285 shares of the software's stock valued at $31,000 after acquiring an additional 124 shares during the period. 63.38% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on ALTR shares. Needham & Company LLC reissued a "hold" rating on shares of Altair Engineering in a research note on Friday, February 21st. Rosenblatt Securities reissued a "neutral" rating and issued a $113.00 price target on shares of Altair Engineering in a research note on Monday, February 24th. One research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. Based on data from MarketBeat, Altair Engineering has a consensus rating of "Hold" and an average price target of $100.83.
View Our Latest Analysis on Altair Engineering
Altair Engineering Trading Up 0.2 %
ALTR traded up $0.21 during trading hours on Friday, hitting $111.75. 1,906,931 shares of the company's stock were exchanged, compared to its average volume of 655,166. Altair Engineering Inc. has a 12-month low of $75.71 and a 12-month high of $113.12. The firm has a 50 day moving average of $110.91 and a 200 day moving average of $104.62. The firm has a market cap of $9.59 billion, a P/E ratio of 657.35, a price-to-earnings-growth ratio of 10.75 and a beta of 1.45.
Altair Engineering (NASDAQ:ALTR - Get Free Report) last announced its earnings results on Thursday, February 20th. The software reported $0.36 earnings per share 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 business had revenue of $192.63 million for the quarter, compared to analysts' expectations of $182.98 million. As a group, research analysts expect that Altair Engineering Inc. will post 0.87 EPS for the current fiscal year.
Insider Buying and Selling at Altair Engineering
In other news, CMO Amy Messano sold 235 shares of the company's stock in a transaction 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 completion of the transaction, the chief marketing officer now owns 23,651 shares in the company, valued at approximately $2,637,796.03. This represents a 0.98 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CRO Nelson Dias sold 1,671 shares of the company's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $111.30, for a total transaction of $185,982.30. Following the completion of the transaction, the executive now owns 55,411 shares of the company's stock, valued at approximately $6,167,244.30. The trade was a 2.93 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,220 shares of company stock valued at $1,470,974. Insiders own 21.75% of the company's stock.
About Altair Engineering
(
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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