Zions Bancorporation N.A. lessened its stake in shares of Altair Engineering Inc. (NASDAQ:ALTR - Free Report) by 43.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 12,733 shares of the software's stock after selling 9,760 shares during the period. Zions Bancorporation N.A.'s holdings in Altair Engineering were worth $1,389,000 at the end of the most recent reporting period.
A number of other large investors have also bought and sold shares of ALTR. Magnetar Financial LLC acquired a new position in Altair Engineering during the 4th quarter valued at about $62,142,000. Vanguard Group Inc. lifted its position in shares of Altair Engineering by 4.8% during the 4th quarter. Vanguard Group Inc. now owns 6,894,230 shares of the software's stock worth $752,229,000 after buying an additional 317,575 shares in the last quarter. Fisher Asset Management LLC boosted its stake in shares of Altair Engineering by 27.0% in the 3rd quarter. Fisher Asset Management LLC now owns 401,612 shares of the software's stock worth $38,358,000 after buying an additional 85,303 shares during the last quarter. New York Life Investment Management LLC grew its holdings in shares of Altair Engineering by 1,103.3% in the fourth quarter. New York Life Investment Management LLC now owns 76,363 shares of the software's stock valued at $8,332,000 after acquiring an additional 70,017 shares in the last quarter. Finally, State Street Corp increased its position in shares of Altair Engineering by 3.3% during the third quarter. State Street Corp now owns 2,053,957 shares of the software's stock valued at $196,173,000 after acquiring an additional 65,589 shares during the last quarter. 63.38% of the stock is currently owned by institutional investors and hedge funds.
Analyst Ratings Changes
Several equities analysts recently weighed in on the stock. Needham & Company LLC restated a "hold" rating on shares of Altair Engineering in a research report on Friday, February 21st. Rosenblatt Securities reaffirmed a "neutral" rating and set a $113.00 target price on shares of Altair Engineering in a report on Monday, February 24th. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $100.83.
Check Out Our Latest Stock Report on Altair Engineering
Insider Buying and Selling at Altair Engineering
In related news, CRO Nelson Dias sold 1,671 shares of the 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 transaction, the executive now owns 55,411 shares of the company's stock, valued at approximately $6,167,244.30. This trade represents a 2.93 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Teresa A. Harris sold 2,700 shares of the business's stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $111.61, for a total transaction 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 $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 have sold 12,172 shares of company stock worth $1,356,847 over the last 90 days. Corporate insiders own 21.75% of the company's stock.
Altair Engineering Price Performance
NASDAQ ALTR remained flat at $111.85 during trading on Friday. The company has a market capitalization of $9.60 billion, a P/E ratio of 657.94, a P/E/G ratio of 10.75 and a beta of 1.45. The stock's fifty day moving average is $111.09 and its two-hundred day moving average is $105.53. 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 earnings results on Thursday, February 20th. The software reported $0.36 earnings per share for the quarter, missing analysts' consensus estimates of $0.51 by ($0.15). The company had revenue of $192.63 million during the quarter, compared to analysts' expectations of $182.98 million. Altair Engineering had a net margin of 2.13% and a return on equity of 8.08%. As a group, equities analysts anticipate that Altair Engineering Inc. will post 0.87 EPS for the current fiscal year.
Altair Engineering Profile
(
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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