Altair Engineering Inc. (NASDAQ:ALTR) Shares Acquired by Vanguard Group Inc.

Vanguard Group Inc. boosted its stake in Altair Engineering Inc. (NASDAQ:ALTR) by 4.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,894,230 shares of the software’s stock after buying an additional 317,575 shares during the period. Vanguard Group Inc. owned 8.10% of Altair Engineering worth $752,229,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. State Street Corp increased its holdings in shares of Altair Engineering by 3.3% in the 3rd quarter. State Street Corp now owns 2,053,957 shares of the software’s stock worth $196,173,000 after acquiring an additional 65,589 shares during the period. Geode Capital Management LLC grew its position in Altair Engineering by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,423,880 shares of the software’s stock worth $136,020,000 after purchasing an additional 53,088 shares during the last quarter. Magnetar Financial LLC acquired a new stake in shares of Altair Engineering in the fourth quarter valued at approximately $62,142,000. Charles Schwab Investment Management Inc. raised its holdings in shares of Altair Engineering by 9.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 505,470 shares of the software’s stock valued at $48,277,000 after buying an additional 42,592 shares during the last quarter. Finally, Needham Investment Management LLC boosted its position in shares of Altair Engineering by 19.3% during the third quarter. Needham Investment Management LLC now owns 231,500 shares of the software’s stock worth $22,111,000 after buying an additional 37,500 shares during the period. 63.38% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Altair Engineering

In related news, CMO Amy Messano sold 235 shares of Altair Engineering stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $111.53, for a total value of $26,209.55. Following the transaction, the chief marketing officer now owns 23,651 shares of the company’s stock, valued at approximately $2,637,796.03. This trade represents a 0.98 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CRO Nelson Dias sold 1,671 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $111.30, for a total transaction of $185,982.30. Following the sale, the executive now directly owns 55,411 shares of the company’s stock, valued at $6,167,244.30. This represents a 2.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,172 shares of company stock valued at $1,356,847. Corporate insiders own 21.75% of the company’s stock.

Altair Engineering Price Performance

Shares of ALTR stock opened at $111.85 on Friday. The stock has a 50-day simple moving average of $111.09 and a 200 day simple moving average of $105.53. The stock has a market capitalization of $9.60 billion, a P/E ratio of 657.94, a P/E/G ratio of 10.75 and a beta of 1.45. 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 posted its quarterly earnings data on Thursday, February 20th. The software reported $0.36 earnings per share for the quarter, missing the consensus estimate 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 the consensus estimate of $182.98 million. On average, sell-side analysts anticipate that Altair Engineering Inc. will post 0.87 earnings per share for the current year.

Analyst Ratings Changes

Several research firms recently commented on ALTR. Needham & Company LLC restated a “hold” rating on shares of Altair Engineering in a research report on Friday, February 21st. Rosenblatt Securities restated a “neutral” rating and set a $113.00 price objective on shares of Altair Engineering in a research note on Monday, February 24th. One analyst has rated the stock with a sell rating and seven have issued a hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target 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.