Creative Planning Has $1.04 Million Stake in Altair Engineering Inc. (NASDAQ:ALTR)

Creative Planning raised its position in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 97.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,648 shares of the software’s stock after acquiring an additional 5,252 shares during the period. Creative Planning’s holdings in Altair Engineering were worth $1,044,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of ALTR. William Blair Investment Management LLC bought a new stake in Altair Engineering during the second quarter valued at about $91,589,000. Bain Capital Public Equity Management II LLC acquired a new position in shares of Altair Engineering during the fourth quarter valued at about $57,728,000. Wellington Management Group LLP raised its position in shares of Altair Engineering by 97.3% during the fourth quarter. Wellington Management Group LLP now owns 1,182,339 shares of the software’s stock valued at $99,494,000 after buying an additional 583,127 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Altair Engineering by 121.7% during the second quarter. Bank of New York Mellon Corp now owns 569,109 shares of the software’s stock valued at $55,818,000 after buying an additional 312,448 shares during the last quarter. Finally, Jane Street Group LLC raised its position in shares of Altair Engineering by 960.2% during the first quarter. Jane Street Group LLC now owns 303,672 shares of the software’s stock valued at $26,161,000 after buying an additional 275,030 shares during the last quarter. 63.38% of the stock is currently owned by institutional investors.

Altair Engineering Stock Performance

NASDAQ ALTR opened at $95.00 on Friday. The firm has a market cap of $7.89 billion, a price-to-earnings ratio of 1,055.56, a PEG ratio of 12.01 and a beta of 1.45. The company has a 50 day moving average of $90.18 and a 200-day moving average of $89.71. The company has a current ratio of 3.14, a quick ratio of 3.14 and a debt-to-equity ratio of 0.29. Altair Engineering Inc. has a 1-year low of $57.59 and a 1-year high of $101.39.

Altair Engineering (NASDAQ:ALTR) last released its quarterly earnings results on Thursday, August 1st. The software reported $0.16 EPS for the quarter, beating the consensus estimate of $0.15 by $0.01. Altair Engineering had a net margin of 4.26% and a return on equity of 6.89%. The business had revenue of $148.80 million for the quarter, compared to analysts’ expectations of $146.88 million. During the same period in the prior year, the firm earned ($0.15) earnings per share. Altair Engineering’s revenue was up 5.4% compared to the same quarter last year. On average, equities analysts forecast that Altair Engineering Inc. will post 0.65 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ALTR has been the subject of a number of research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price objective on shares of Altair Engineering in a research report on Friday, August 2nd. JPMorgan Chase & Co. lowered shares of Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 price objective for the company. in a research report on Monday, July 15th. Finally, The Goldman Sachs Group lowered shares of Altair Engineering from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $85.00 to $71.00 in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $90.67.

Insider Buying and Selling at Altair Engineering

In other Altair Engineering news, CEO James Ralph Scapa sold 13,000 shares of the firm’s stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $88.11, for a total value of $1,145,430.00. Following the transaction, the chief executive officer now directly owns 134,045 shares of the company’s stock, valued at approximately $11,810,704.95. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Altair Engineering news, major shareholder George J. Christ sold 49,952 shares of the stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $95.72, for a total value of $4,781,405.44. Following the sale, the insider now directly owns 100,000 shares in the company, valued at approximately $9,572,000. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO James Ralph Scapa sold 13,000 shares of the stock in a transaction on Monday, July 29th. The stock was sold at an average price of $88.11, for a total transaction of $1,145,430.00. Following the completion of the sale, the chief executive officer now owns 134,045 shares in the company, valued at approximately $11,810,704.95. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 160,360 shares of company stock valued at $15,014,126. 21.75% of the stock is currently owned by insiders.

About Altair Engineering

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.