Altair Engineering Inc. (NASDAQ:ALTR) Shares Sold by Victory Capital Management Inc.

Victory Capital Management Inc. reduced its stake in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 95.8% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 16,488 shares of the software’s stock after selling 371,601 shares during the period. Victory Capital Management Inc.’s holdings in Altair Engineering were worth $1,799,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ALTR. Fisher Asset Management LLC boosted its stake in shares of Altair Engineering by 27.0% in the third quarter. Fisher Asset Management LLC now owns 401,612 shares of the software’s stock worth $38,358,000 after buying an additional 85,303 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Altair Engineering by 1.7% in the fourth quarter. Principal Financial Group Inc. now owns 168,665 shares of the software’s stock valued at $18,403,000 after acquiring an additional 2,872 shares during the period. Citigroup Inc. boosted its position in Altair Engineering by 141.0% in the 3rd quarter. Citigroup Inc. now owns 50,518 shares of the software’s stock worth $4,825,000 after purchasing an additional 29,556 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Altair Engineering in the 3rd quarter worth approximately $1,356,000. Finally, UMB Bank n.a. grew its stake in shares of 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 purchasing an additional 124 shares during the period. 63.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts recently 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 reiterated a “neutral” rating and issued a $113.00 price objective on shares of Altair Engineering in a research report on Monday, February 24th. One research 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, the company presently has a consensus rating of “Hold” and an average target price of $100.83.

Altair Engineering Stock Up 0.1 %

ALTR opened at $111.42 on Tuesday. The firm’s fifty day simple moving average is $110.80 and its two-hundred day simple moving average is $104.10. Altair Engineering Inc. has a 52-week low of $75.71 and a 52-week high of $113.12. The company has a market cap of $9.56 billion, a price-to-earnings ratio of 655.41, a PEG ratio of 10.75 and a beta of 1.45.

Altair Engineering (NASDAQ:ALTR) last announced its quarterly earnings data 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). The firm had revenue of $192.63 million during the quarter, compared to analysts’ expectations of $182.98 million. Altair Engineering had a net margin of 2.13% and a return on equity of 8.08%. On average, research analysts forecast that Altair Engineering Inc. will post 0.87 EPS for the current year.

Insider Transactions at Altair Engineering

In related news, CMO Amy Messano sold 235 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The shares were 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. This trade represents a 0.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Matthew Charles Brown sold 1,048 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $108.90, for a total transaction of $114,127.20. Following the completion of the transaction, the chief financial officer now owns 55,519 shares in the company, 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. Insiders have sold a total of 10,805 shares of company stock worth $1,202,184 in the last ninety days. Insiders own 21.75% of the company’s stock.

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.