Altair Engineering Inc. (NASDAQ:ALTR) Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB trimmed its holdings in Altair Engineering Inc. (NASDAQ:ALTR) by 12.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,400 shares of the software’s stock after selling 2,200 shares during the period. Handelsbanken Fonder AB’s holdings in Altair Engineering were worth $1,680,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Fisher Asset Management LLC grew its holdings 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 valued at $38,358,000 after purchasing an additional 85,303 shares during the period. Citigroup Inc. grew 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 period. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Altair Engineering in the third quarter valued at about $1,356,000. Versor Investments LP purchased a new stake in shares of Altair Engineering in the third quarter valued at about $487,000. Finally, UMB Bank n.a. grew its holdings in shares of 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 purchasing an additional 124 shares during the period. 63.38% of the stock is currently owned by institutional investors and hedge funds.

Altair Engineering Stock Performance

Shares of ALTR opened at $111.64 on Wednesday. The stock has a market capitalization of $9.50 billion, a PE ratio of 656.71, a P/E/G ratio of 10.75 and a beta of 1.42. Altair Engineering Inc. has a 1 year low of $75.71 and a 1 year high of $113.12. The company’s 50-day simple moving average is $110.09 and its 200-day simple moving average is $101.96.

Altair Engineering (NASDAQ:ALTR) last issued its quarterly earnings results on Thursday, February 20th. The software reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.15). The business had revenue of $192.63 million for the quarter, compared to analyst estimates of $182.98 million. Altair Engineering had a return on equity of 8.08% and a net margin of 2.13%. On average, sell-side analysts predict that Altair Engineering Inc. will post 0.87 earnings per share for the current year.

Insider Activity at Altair Engineering

In related news, CFO Matthew Charles Brown sold 1,048 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were 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. This trade represents a 1.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James Ralph Scapa sold 13,000 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $105.69, for a total transaction of $1,373,970.00. Following the sale, the chief executive officer now directly owns 134,045 shares in the company, valued at approximately $14,167,216.05. The trade was a 8.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 59,143 shares of company stock valued at $6,265,694 over the last 90 days. 21.75% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

ALTR has been the subject of a number of analyst reports. Rosenblatt Securities reissued a “neutral” rating and issued a $113.00 price objective on shares of Altair Engineering in a report on Monday. William Blair reissued a “market perform” rating on shares of Altair Engineering in a report on Thursday, October 31st. Royal Bank of Canada increased their target price 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. Loop Capital reaffirmed a “hold” rating and set a $113.00 target price on shares of Altair Engineering in a research note on Thursday, October 31st. Finally, Wolfe Research lowered shares of Altair Engineering from a “strong-buy” rating to a “hold” rating in a research note on Sunday, November 3rd. One equities research analyst has rated the stock with a sell rating and seven have given a hold rating to the company. According to MarketBeat.com, Altair Engineering has a consensus rating of “Hold” and a consensus target price 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.