New York State Teachers Retirement System Purchases 100 Shares of Altair Engineering Inc. (NASDAQ:ALTR)

New York State Teachers Retirement System raised its position in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 1.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,600 shares of the software’s stock after acquiring an additional 100 shares during the period. New York State Teachers Retirement System’s holdings in Altair Engineering were worth $938,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Fisher Asset Management LLC boosted its stake in shares of Altair Engineering by 27.0% during the third quarter. Fisher Asset Management LLC now owns 401,612 shares of the software’s stock valued at $38,358,000 after purchasing an additional 85,303 shares during the period. Citigroup Inc. boosted its stake in shares of Altair Engineering by 141.0% during 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 period. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Altair Engineering during the third quarter valued at $1,356,000. Versor Investments LP purchased a new stake in shares of Altair Engineering during the third quarter valued at $487,000. Finally, UMB Bank n.a. boosted its stake in shares of Altair Engineering by 77.0% during the fourth quarter. UMB Bank n.a. now owns 285 shares of the software’s stock valued at $31,000 after purchasing an additional 124 shares during the period. Institutional investors own 63.38% of the company’s stock.

Insider Buying and Selling at Altair Engineering

In other Altair Engineering news, CRO Nelson Dias sold 22,500 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $106.23, for a total transaction of $2,390,175.00. Following the completion of the sale, the executive now directly owns 48,437 shares of the company’s stock, valued at approximately $5,145,462.51. This represents a 31.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO James Ralph Scapa sold 13,000 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $105.69, for a total transaction of $1,373,970.00. Following the transaction, the chief executive officer now owns 134,045 shares in the company, valued at approximately $14,167,216.05. This trade represents a 8.84 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 59,143 shares of company stock valued at $6,265,694. 21.75% of the stock is currently owned by insiders.

Altair Engineering Stock Performance

ALTR stock opened at $111.78 on Monday. The firm has a market cap of $9.51 billion, a price-to-earnings ratio of 657.53, a PEG ratio of 10.75 and a beta of 1.42. The firm has a 50-day simple moving average of $109.90 and a two-hundred day simple moving average of $101.65. Altair Engineering Inc. has a one year low of $75.71 and a one year high of $113.12. The company has a debt-to-equity ratio of 0.27, a quick ratio of 3.27 and a current ratio of 3.27.

Altair Engineering (NASDAQ:ALTR) last released its quarterly earnings results on Thursday, February 20th. The software reported $0.36 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.15). The firm had revenue of $192.63 million for 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 8.23%. On average, equities analysts forecast that Altair Engineering Inc. will post 0.87 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Loop Capital reaffirmed a “hold” rating and issued a $113.00 price objective on shares of Altair Engineering in a research note on Thursday, October 31st. Needham & Company LLC reaffirmed a “hold” rating on shares of Altair Engineering in a research note on Friday. Wolfe Research lowered shares of Altair Engineering from a “strong-buy” rating to a “hold” rating in a research note on Sunday, November 3rd. Rosenblatt Securities upped their price objective on shares of Altair Engineering from $88.00 to $113.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Finally, Royal Bank of Canada upped their price objective on shares of Altair Engineering from $90.00 to $113.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average 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.