Altair Engineering Inc. (NASDAQ:ALTR) Shares Sold by Amundi

Amundi cut its position in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 22.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,650 shares of the software’s stock after selling 1,631 shares during the period. Amundi’s holdings in Altair Engineering were worth $623,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in ALTR. GAMMA Investing LLC lifted its position 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 purchasing an additional 93 shares in the last quarter. Louisiana State Employees Retirement System lifted its stake 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 increased its stake in Altair Engineering by 1.2% in the fourth quarter. New York State Teachers Retirement System now owns 8,600 shares of the software’s stock valued at $938,000 after purchasing an additional 100 shares during the period. State of Michigan Retirement System raised its stake in Altair Engineering by 0.7% during the 4th quarter. State of Michigan Retirement System now owns 14,200 shares of the software’s stock valued at $1,549,000 after acquiring an additional 100 shares during the last quarter. Finally, UMB Bank n.a. grew its position in 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 buying an additional 124 shares during the last quarter. 63.38% of the stock is currently owned by hedge funds and other institutional investors.

Altair Engineering Stock Down 0.1 %

Shares of ALTR opened at $111.54 on Friday. The firm has a market cap of $9.57 billion, a PE ratio of 656.12, a price-to-earnings-growth ratio of 10.75 and a beta of 1.45. The company’s fifty day moving average is $110.88 and its two-hundred day moving average is $104.35. Altair Engineering Inc. has a fifty-two week low of $75.71 and a fifty-two week high of $113.12.

Altair Engineering (NASDAQ:ALTR) last announced its quarterly 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). Altair Engineering had a net margin of 2.13% and a return on equity of 8.08%. The business had revenue of $192.63 million for the quarter, compared to analyst estimates of $182.98 million. As a group, equities research analysts anticipate that Altair Engineering Inc. will post 0.87 earnings per share for the current year.

Insiders Place Their Bets

In related news, 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 value 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. The trade was a 12.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CRO Nelson Dias sold 1,671 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $111.30, for a total value of $185,982.30. Following the transaction, the executive now owns 55,411 shares in the company, valued at $6,167,244.30. This trade represents a 2.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 13,220 shares of company stock worth $1,470,974 in the last 90 days. 21.75% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Needham & Company LLC reissued a “hold” rating on shares of Altair Engineering in a report on Friday, February 21st. Rosenblatt Securities restated a “neutral” rating and issued a $113.00 price objective on shares of Altair Engineering in a research report on Monday, February 24th. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $100.83.

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.