Altair Engineering Inc. (NASDAQ:ALTR) Shares Sold by Duality Advisers LP

Duality Advisers LP trimmed its holdings in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 8.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,225 shares of the software’s stock after selling 981 shares during the quarter. Duality Advisers LP’s holdings in Altair Engineering were worth $945,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Matrix Capital Management Company LP increased its position in shares of Altair Engineering by 1.1% during the third quarter. Matrix Capital Management Company LP now owns 11,300,457 shares of the software’s stock worth $706,957,000 after acquiring an additional 126,257 shares during the period. Vanguard Group Inc. raised its holdings in Altair Engineering by 3.2% in the third quarter. Vanguard Group Inc. now owns 5,727,942 shares of the software’s stock valued at $358,340,000 after acquiring an additional 179,838 shares in the last quarter. Conestoga Capital Advisors LLC lifted its stake in Altair Engineering by 0.6% in the fourth quarter. Conestoga Capital Advisors LLC now owns 2,424,711 shares of the software’s stock worth $204,039,000 after acquiring an additional 15,200 shares during the last quarter. Impax Asset Management Group plc increased its position in shares of Altair Engineering by 6.9% in the 3rd quarter. Impax Asset Management Group plc now owns 2,130,550 shares of the software’s stock valued at $132,570,000 after purchasing an additional 137,933 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its position in shares of Altair Engineering by 22.8% during the 3rd quarter. Ameriprise Financial Inc. now owns 951,698 shares of the software’s stock worth $59,538,000 after purchasing an additional 176,780 shares during the last quarter. Hedge funds and other institutional investors own 63.38% of the company’s stock.

Insider Activity at Altair Engineering

In other Altair Engineering news, CEO James Ralph Scapa sold 10,000 shares of the company’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $91.07, for a total value of $910,700.00. Following the completion of the transaction, the chief executive officer now directly owns 103,591 shares of the company’s stock, valued at approximately $9,434,032.37. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In related news, CEO James Ralph Scapa sold 10,000 shares of Altair Engineering stock in a transaction dated Friday, February 16th. The stock was sold at an average price of $91.07, for a total value of $910,700.00. Following the completion of the transaction, the chief executive officer now directly owns 103,591 shares in the company, valued at $9,434,032.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Jrs Investments Llc sold 5,000 shares of the stock in a transaction that occurred on Friday, February 16th. The stock was sold at an average price of $91.07, for a total value of $455,350.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 161,830 shares of company stock worth $13,876,320. 21.75% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

ALTR has been the subject of a number of recent analyst reports. Oppenheimer lifted their price target on Altair Engineering from $95.00 to $100.00 and gave the stock an “outperform” rating in a report on Friday, February 23rd. Rosenblatt Securities reiterated a “neutral” rating and issued a $88.00 price objective (up from $74.00) on shares of Altair Engineering in a research report on Friday, February 23rd. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Altair Engineering in a report on Monday, March 25th. JPMorgan Chase & Co. increased their target price on Altair Engineering from $86.00 to $95.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 26th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $90.00 price objective on shares of Altair Engineering in a report on Thursday, March 21st. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $90.00.

Altair Engineering Trading Up 1.9 %

Shares of Altair Engineering stock opened at $83.78 on Wednesday. The firm has a market cap of $6.91 billion, a PE ratio of -644.46, a P/E/G ratio of 10.98 and a beta of 1.42. The company has a quick ratio of 2.16, a current ratio of 2.16 and a debt-to-equity ratio of 0.32. Altair Engineering Inc. has a fifty-two week low of $57.59 and a fifty-two week high of $92.92. The business’s fifty day moving average is $84.29 and its two-hundred day moving average is $78.56.

Altair Engineering (NASDAQ:ALTR) last posted its quarterly earnings data on Thursday, February 22nd. The software reported $0.29 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.07. Altair Engineering had a negative net margin of 1.46% and a positive return on equity of 3.77%. The company had revenue of $171.50 million during the quarter, compared to the consensus estimate of $172.48 million. Analysts anticipate that Altair Engineering Inc. will post 0.63 earnings per share 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.