Altair Engineering Inc. (NASDAQ:ALTR) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. lessened its stake in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 6.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 94,231 shares of the software’s stock after selling 6,170 shares during the quarter. Corebridge Financial Inc. owned about 0.11% of Altair Engineering worth $10,282,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fisher Asset Management LLC raised its stake in shares of Altair Engineering by 27.0% in the 3rd 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 in the last quarter. Principal Financial Group Inc. grew its holdings in Altair Engineering by 1.7% during the fourth quarter. Principal Financial Group Inc. now owns 168,665 shares of the software’s stock worth $18,403,000 after acquiring an additional 2,872 shares during the period. Citigroup Inc. raised its position in Altair Engineering by 141.0% in the third quarter. Citigroup Inc. now owns 50,518 shares of the software’s stock worth $4,825,000 after acquiring an additional 29,556 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Altair Engineering in the 3rd quarter valued at about $1,356,000. Finally, UMB Bank n.a. boosted its position 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 valued at $31,000 after purchasing an additional 124 shares in the last quarter. Institutional investors own 63.38% of the company’s stock.

Insider Activity at Altair Engineering

In other Altair Engineering news, CRO Nelson Dias sold 1,671 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $111.30, for a total value of $185,982.30. Following the transaction, the executive now owns 55,411 shares in the company, valued at approximately $6,167,244.30. This represents a 2.93 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Matthew Charles Brown sold 3,811 shares of the stock in a transaction that occurred on Wednesday, February 26th. The stock was sold at an average price of $111.53, for a total transaction of $425,040.83. Following the completion of the sale, the chief financial officer now owns 69,394 shares of the company’s stock, valued at approximately $7,739,512.82. The trade was a 5.21 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,172 shares of company stock valued at $1,356,847. Company insiders own 21.75% of the company’s stock.

Altair Engineering Price Performance

ALTR stock opened at $112.73 on Thursday. The firm has a market capitalization of $9.67 billion, a P/E ratio of 663.12, a P/E/G ratio of 10.75 and a beta of 1.45. Altair Engineering Inc. has a 52-week low of $75.71 and a 52-week high of $113.12. The company’s 50 day simple moving average is $111.02 and its 200-day simple moving average is $105.17.

Altair Engineering (NASDAQ:ALTR) last announced its 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 firm had revenue of $192.63 million for the quarter, compared to analyst estimates of $182.98 million. Altair Engineering had a net margin of 2.13% and a return on equity of 8.08%. Sell-side analysts predict that Altair Engineering Inc. will post 0.87 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

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.