US Bancorp DE Trims Stock Position in Altair Engineering Inc. (NASDAQ:ALTR)

US Bancorp DE lowered its position in Altair Engineering Inc. (NASDAQ:ALTR - Free Report) by 80.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,277 shares of the software's stock after selling 5,295 shares during the quarter. US Bancorp DE's holdings in Altair Engineering were worth $139,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ALTR. GAMMA Investing LLC grew its holdings in shares of Altair Engineering by 14.6% during the 4th quarter. GAMMA Investing LLC now owns 729 shares of the software's stock worth $80,000 after purchasing an additional 93 shares during the period. Louisiana State Employees Retirement System lifted its position in Altair Engineering by 0.6% in the fourth quarter. Louisiana State Employees Retirement System now owns 16,600 shares of the software's stock valued at $1,811,000 after buying an additional 100 shares during the last quarter. New York State Teachers Retirement System boosted its stake in Altair Engineering by 1.2% during the fourth quarter. New York State Teachers Retirement System now owns 8,600 shares of the software's stock worth $938,000 after buying an additional 100 shares during the period. UMB Bank n.a. increased its position in shares of Altair Engineering by 77.0% during the fourth 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 last quarter. Finally, Thrivent Financial for Lutherans raised its stake in shares of Altair Engineering by 1.5% in the 3rd quarter. Thrivent Financial for Lutherans now owns 13,961 shares of the software's stock valued at $1,333,000 after acquiring an additional 201 shares during the period. 63.38% of the stock is currently owned by institutional investors and hedge funds.

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Altair Engineering Price Performance

Shares of NASDAQ ALTR traded down $0.12 during mid-day trading on Thursday, hitting $111.56. The company had a trading volume of 323,075 shares, compared to its average volume of 647,835. The company has a market capitalization of $9.57 billion, a PE ratio of 656.21, a price-to-earnings-growth ratio of 10.75 and a beta of 1.45. The business's 50-day simple moving average is $110.86 and its 200 day simple moving average is $104.30. 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 announced its quarterly earnings data on Thursday, February 20th. The software reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.15). Altair Engineering had a net margin of 2.13% and a return on equity of 8.08%. The company had revenue of $192.63 million during the quarter, compared to analysts' expectations of $182.98 million. On average, analysts expect that Altair Engineering Inc. will post 0.87 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on ALTR shares. Needham & Company LLC reiterated a "hold" rating on shares of Altair Engineering in a report on Friday, February 21st. Rosenblatt Securities reaffirmed a "neutral" rating and issued a $113.00 price objective 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 assigned a hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $100.83.

Insiders Place Their Bets

In other Altair Engineering news, CFO Matthew Charles Brown sold 1,048 shares of Altair Engineering stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $108.90, for a total transaction of $114,127.20. Following the completion of the sale, the chief financial officer now directly owns 55,519 shares of the company's stock, valued at $6,046,019.10. The trade was a 1.85 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CRO Nelson Dias sold 1,671 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $111.30, for a total value of $185,982.30. Following the completion of the transaction, the executive now owns 55,411 shares in the company, 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. Insiders sold 13,220 shares of company stock worth $1,470,974 in the last 90 days. Corporate insiders own 21.75% of the company's stock.

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.