KLP Kapitalforvaltning AS Takes Position in Altair Engineering Inc. (NASDAQ:ALTR)

KLP Kapitalforvaltning AS bought a new position in Altair Engineering Inc. (NASDAQ:ALTR) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 12,300 shares of the software’s stock, valued at approximately $1,342,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. NBT Bank N A NY lifted its holdings in shares of Altair Engineering by 76.4% in the 4th quarter. NBT Bank N A NY now owns 247 shares of the software’s stock worth $27,000 after acquiring an additional 107 shares during the last quarter. UMB Bank n.a. raised 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 worth $31,000 after purchasing an additional 124 shares during the period. GAMMA Investing LLC lifted its stake in Altair Engineering by 14.6% in the fourth quarter. GAMMA Investing LLC now owns 729 shares of the software’s stock worth $80,000 after purchasing an additional 93 shares during 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 buying an additional 536 shares during the period. Finally, IFP Advisors Inc bought a new position in shares of Altair Engineering during the fourth quarter valued at about $185,000. Hedge funds and other institutional investors own 63.38% of the company’s stock.

Altair Engineering Price Performance

Shares of Altair Engineering stock opened at $111.85 on Friday. The company has a market cap of $9.60 billion, a PE ratio of 657.94, a P/E/G ratio of 10.75 and a beta of 1.45. The business has a 50 day moving average of $111.09 and a 200 day moving average of $105.53. Altair Engineering Inc. has a 52 week low of $75.71 and a 52 week high of $113.12.

Altair Engineering (NASDAQ:ALTR) last issued its quarterly earnings data on Thursday, February 20th. The software reported $0.36 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.15). The company had revenue of $192.63 million during the quarter, compared to the consensus estimate of $182.98 million. Altair Engineering had a return on equity of 8.08% and a net margin of 2.13%. On average, 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 450 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $111.08, for a total value of $49,986.00. Following the completion of the transaction, the director now directly owns 18,092 shares in the company, valued at $2,009,659.36. This trade represents a 2.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CMO Amy Messano sold 235 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $111.53, for a total transaction of $26,209.55. Following the sale, the chief marketing officer now directly owns 23,651 shares in the company, valued at $2,637,796.03. The trade was a 0.98 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 12,172 shares of company stock worth $1,356,847 over the last three months. Company insiders own 21.75% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Needham & Company LLC restated 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 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 given a hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $100.83.

Altair Engineering 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.