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

Geode Capital Management LLC lessened its holdings in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 2.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,394,124 shares of the software’s stock after selling 29,756 shares during the period. Geode Capital Management LLC owned 1.64% of Altair Engineering worth $152,148,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. NBT Bank N A NY grew its stake in shares of Altair Engineering by 76.4% in the 4th quarter. NBT Bank N A NY now owns 247 shares of the software’s stock valued at $27,000 after buying an additional 107 shares during the period. UMB Bank n.a. increased its stake in 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 buying an additional 124 shares during the period. GAMMA Investing LLC increased its position in shares of Altair Engineering by 14.6% during the fourth quarter. GAMMA Investing LLC now owns 729 shares of the software’s stock worth $80,000 after acquiring an additional 93 shares during the period. Blue Trust Inc. increased its holdings in Altair Engineering by 185.5% during the 4th quarter. Blue Trust Inc. now owns 825 shares of the software’s stock worth $90,000 after purchasing an additional 536 shares during the period. Finally, IFP Advisors Inc purchased a new stake in shares of Altair Engineering during the fourth quarter worth approximately $185,000. 63.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on ALTR. Needham & Company LLC reissued a “hold” rating on shares of Altair Engineering in a report on Friday, February 21st. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $113.00 target price on shares of Altair Engineering in a report on Monday, February 24th. One equities 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.com, the stock has a consensus rating of “Hold” and an average price target of $100.83.

Insider Activity

In other news, Director Teresa A. Harris sold 2,700 shares of the business’s stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $111.61, for a total value of $301,347.00. Following the completion of the transaction, the director now directly owns 18,542 shares of the company’s stock, valued at $2,069,472.62. The trade was a 12.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Matthew Charles Brown sold 3,811 shares of the firm’s stock in a transaction dated Wednesday, February 26th. The stock was 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 represents a 5.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,172 shares of company stock worth $1,356,847 over the last 90 days. 21.75% of the stock is currently owned by corporate insiders.

Altair Engineering Price Performance

Shares of NASDAQ:ALTR opened at $111.85 on Tuesday. The company has a market cap of $9.60 billion, a P/E ratio of 657.94, a PEG ratio of 10.75 and a beta of 1.45. The company has a 50-day moving average price of $111.26 and a 200 day moving average price of $106.58. Altair Engineering Inc. has a 52 week low of $75.71 and a 52 week high of $113.12.

Altair Engineering (NASDAQ:ALTR) last announced its quarterly 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 company 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%. Analysts expect that Altair Engineering Inc. will post 0.87 EPS for the current 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.