Natixis Advisors LLC Has $1.62 Million Position in Altair Engineering Inc. (NASDAQ:ALTR)

Natixis Advisors LLC cut its position in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 19.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,821 shares of the software’s stock after selling 3,500 shares during the period. Natixis Advisors LLC’s holdings in Altair Engineering were worth $1,617,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of ALTR. Thrivent Financial for Lutherans increased its position in Altair Engineering by 1.5% during the third quarter. Thrivent Financial for Lutherans now owns 13,961 shares of the software’s stock worth $1,333,000 after buying an additional 201 shares during the last quarter. Intech Investment Management LLC acquired a new position in shares of Altair Engineering during the 3rd quarter worth approximately $1,084,000. Massachusetts Financial Services Co. MA raised its stake in Altair Engineering by 31.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 392,343 shares of the software’s stock valued at $37,473,000 after acquiring an additional 94,219 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Altair Engineering by 9.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 505,470 shares of the software’s stock valued at $48,277,000 after purchasing an additional 42,592 shares during the last quarter. Finally, Citigroup Inc. increased its holdings in shares of Altair Engineering by 141.0% in the third quarter. Citigroup Inc. now owns 50,518 shares of the software’s stock valued at $4,825,000 after purchasing an additional 29,556 shares during the last quarter. 63.38% of the stock is owned by institutional investors.

Insider Activity at Altair Engineering

In related news, CFO Matthew Charles Brown sold 3,811 shares of Altair Engineering stock in a transaction that occurred 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 in the company, valued at $7,739,512.82. This trade represents a 5.21 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CMO Amy Messano sold 235 shares of the company’s stock in a transaction that occurred on 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,172 shares of company stock valued at $1,356,847 in the last 90 days. 21.75% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

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

Altair Engineering Trading Down 0.1 %

Shares of NASDAQ:ALTR opened at $111.69 on Tuesday. The firm has a 50 day moving average of $110.94 and a 200-day moving average of $104.93. Altair Engineering Inc. has a 12 month low of $75.71 and a 12 month high of $113.12. The stock has a market capitalization of $9.58 billion, a PE ratio of 657.00, a PEG ratio of 10.75 and a beta of 1.45.

Altair Engineering (NASDAQ:ALTR) last released 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). The business had revenue of $192.63 million during the quarter, compared to the consensus estimate 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 predict 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.