Altair Engineering Inc. (NASDAQ:ALTR) Shares Acquired by Mitsubishi UFJ Asset Management Co. Ltd.

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in Altair Engineering Inc. (NASDAQ:ALTR) by 460.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 6,243 shares of the software’s stock after purchasing an additional 5,129 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in Altair Engineering were worth $685,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. grew its holdings in Altair Engineering by 1.7% in the 4th quarter. Principal Financial Group Inc. now owns 168,665 shares of the software’s stock worth $18,403,000 after buying an additional 2,872 shares in the last quarter. UMB Bank n.a. boosted its position in Altair Engineering by 77.0% during the 4th 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 period. Zacks Investment Management acquired a new position in shares of Altair Engineering during the third quarter valued at $2,516,000. KBC Group NV raised its stake in shares of Altair Engineering by 62.4% during the fourth quarter. KBC Group NV now owns 2,663 shares of the software’s stock valued at $291,000 after purchasing an additional 1,023 shares in the last quarter. Finally, Blue Trust Inc. lifted its holdings in Altair Engineering by 185.5% in the fourth quarter. Blue Trust Inc. now owns 825 shares of the software’s stock worth $90,000 after purchasing an additional 536 shares during the period. 63.38% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Altair Engineering

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

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Rosenblatt Securities restated a “neutral” rating and set a $113.00 price target on shares of Altair Engineering in a research report on Monday, February 24th. Needham & Company LLC restated a “hold” rating on shares of Altair Engineering in a research report on Friday, February 21st. One investment 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 a consensus price target of $100.83.

Altair Engineering Stock Performance

Shares of NASDAQ:ALTR opened at $111.85 on Thursday. The stock has a market capitalization of $9.60 billion, a price-to-earnings ratio of 657.94, a PEG ratio of 10.75 and a beta of 1.45. Altair Engineering Inc. has a 1-year low of $75.71 and a 1-year high of $113.12. The company has a 50 day moving average price of $111.17 and a 200 day moving average price of $106.06.

Altair Engineering (NASDAQ:ALTR) last issued its earnings results on Thursday, February 20th. The software reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.15). Altair Engineering had a return on equity of 8.08% and a net margin of 2.13%. The company had revenue of $192.63 million during the quarter, compared to analyst estimates of $182.98 million. On average, sell-side analysts expect 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.