Altair Engineering Inc. (NASDAQ:ALTR) Stake Raised by Vanguard Group Inc.

Vanguard Group Inc. raised its holdings in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 4.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,894,230 shares of the software’s stock after acquiring an additional 317,575 shares during the quarter. Vanguard Group Inc. owned approximately 0.08% of Altair Engineering worth $752,229,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. NBT Bank N A NY grew its position in Altair Engineering by 76.4% during the fourth quarter. NBT Bank N A NY now owns 247 shares of the software’s stock valued at $27,000 after purchasing an additional 107 shares in the last quarter. UMB Bank n.a. increased its stake in shares of Altair Engineering by 77.0% in the fourth quarter. UMB Bank n.a. now owns 285 shares of the software’s stock worth $31,000 after acquiring an additional 124 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of Altair Engineering by 14.6% during the fourth quarter. GAMMA Investing LLC now owns 729 shares of the software’s stock worth $80,000 after acquiring an additional 93 shares in the last quarter. Blue Trust Inc. boosted its position in Altair Engineering by 185.5% during the fourth quarter. Blue Trust Inc. now owns 825 shares of the software’s stock valued at $90,000 after purchasing an additional 536 shares during the last quarter. Finally, IFP Advisors Inc purchased a new position in Altair Engineering in the fourth quarter valued at about $185,000. Institutional investors and hedge funds own 63.38% of the company’s stock.

Insider Activity at Altair Engineering

In other Altair Engineering news, CFO Matthew Charles Brown sold 3,811 shares of the stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $111.53, for a total value of $425,040.83. Following the completion of the sale, the chief financial officer now directly owns 69,394 shares of the company’s stock, valued at $7,739,512.82. This represents a 5.21 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Teresa A. Harris sold 2,700 shares of the business’s stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $111.61, for a total transaction of $301,347.00. Following the transaction, the director now owns 18,542 shares in the company, valued at approximately $2,069,472.62. The trade was a 12.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 12,172 shares of company stock worth $1,356,847 in the last 90 days. 21.75% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ALTR. Rosenblatt Securities reiterated a “neutral” rating and set a $113.00 price target on shares of Altair Engineering in a report on Monday, February 24th. Needham & Company LLC reiterated a “hold” rating on shares of Altair Engineering in a research note 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.com, Altair Engineering presently has a consensus rating of “Hold” and an average price target of $100.83.

Altair Engineering Price Performance

NASDAQ:ALTR opened at $111.85 on Friday. The company’s 50 day moving average is $111.09 and its 200-day moving average is $105.53. Altair Engineering Inc. has a 12 month low of $75.71 and a 12 month high of $113.12. The firm has a market cap of $9.60 billion, a price-to-earnings ratio of 657.94, a P/E/G ratio of 10.75 and a beta of 1.45.

Altair Engineering (NASDAQ:ALTR) last released 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 firm had revenue of $192.63 million for 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%. Research analysts predict that Altair Engineering Inc. will post 0.87 EPS for the current fiscal year.

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.