Altair Engineering Inc. (NASDAQ:ALTR) Shares Sold by Essex Investment Management Co. LLC

Essex Investment Management Co. LLC decreased its position in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 58.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 312 shares of the software’s stock after selling 434 shares during the quarter. Essex Investment Management Co. LLC’s holdings in Altair Engineering were worth $34,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of ALTR. UMB Bank n.a. lifted its holdings in Altair Engineering by 77.0% in the fourth quarter. UMB Bank n.a. now owns 285 shares of the software’s stock valued at $31,000 after acquiring an additional 124 shares during the period. GAMMA Investing LLC lifted its holdings in Altair Engineering by 14.6% in the fourth quarter. GAMMA Investing LLC now owns 729 shares of the software’s stock valued at $80,000 after acquiring an additional 93 shares during the period. 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 valued at $90,000 after acquiring an additional 536 shares during the period. Van ECK Associates Corp lifted its holdings in Altair Engineering by 28.5% in the third quarter. Van ECK Associates Corp now owns 1,358 shares of the software’s stock valued at $130,000 after acquiring an additional 301 shares during the period. Finally, KBC Group NV lifted its holdings in Altair Engineering by 17.9% in the third quarter. KBC Group NV now owns 1,640 shares of the software’s stock valued at $157,000 after acquiring an additional 249 shares during the period. 63.38% of the stock is owned by institutional investors and hedge funds.

Altair Engineering Price Performance

Altair Engineering stock opened at $111.09 on Tuesday. The stock has a market capitalization of $9.53 billion, a PE ratio of 653.47, a price-to-earnings-growth ratio of 10.75 and a beta of 1.45. Altair Engineering Inc. has a 12 month low of $75.71 and a 12 month high of $113.12. The business has a 50 day simple moving average of $110.61 and a 200-day simple moving average of $103.35.

Altair Engineering (NASDAQ:ALTR) last posted its quarterly earnings data on Thursday, February 20th. The software reported $0.36 EPS 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 during the quarter, compared to analysts’ expectations of $182.98 million. On average, equities research analysts anticipate that Altair Engineering Inc. will post 0.87 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on ALTR shares. Needham & Company LLC reissued a “hold” rating on shares of Altair Engineering in a report on Friday, February 21st. Rosenblatt Securities reissued a “neutral” rating and issued a $113.00 price target on shares of Altair Engineering in a report on Monday, February 24th. One analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $100.83.

Insider Buying and Selling

In related news, CMO Amy Messano sold 235 shares of the business’s stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $111.53, for a total transaction of $26,209.55. Following the completion of the sale, the chief marketing officer now directly owns 23,651 shares in the company, valued at approximately $2,637,796.03. The trade was a 0.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Matthew Charles Brown sold 1,048 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $108.90, for a total value of $114,127.20. Following the sale, the chief financial officer now owns 55,519 shares of the company’s stock, valued at $6,046,019.10. The trade was a 1.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,805 shares of company stock worth $1,202,184. 21.75% of the stock is owned by corporate insiders.

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.