Altair Engineering Inc. (NASDAQ:ALTR) Shares Sold by Primecap Management Co. CA

Primecap Management Co. CA lowered its position in Altair Engineering Inc. (NASDAQ:ALTR) by 26.1% in the fourth quarter, HoldingsChannel reports. The fund owned 238,363 shares of the software’s stock after selling 84,130 shares during the quarter. Primecap Management Co. CA’s holdings in Altair Engineering were worth $26,008,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Fisher Asset Management LLC raised its position 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 worth $38,358,000 after acquiring an additional 85,303 shares during the period. Principal Financial Group Inc. raised its position in shares of Altair Engineering by 1.7% in 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 shares of 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 during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of Altair Engineering in the third quarter worth about $1,356,000. Finally, UMB Bank n.a. raised its position 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 worth $31,000 after acquiring an additional 124 shares during the period. Institutional investors and hedge funds own 63.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Rosenblatt Securities restated a “neutral” rating and set a $113.00 price target on shares of Altair Engineering in a research report on Monday, February 24th. Needham & Company LLC restated a “hold” rating on shares of Altair Engineering in a research report on Friday, February 21st. One investment analyst has rated the stock with a sell rating and seven have given a hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $100.83.

Insider Activity

In other news, CFO Matthew Charles Brown sold 1,048 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $108.90, for a total transaction of $114,127.20. Following the transaction, the chief financial officer now owns 55,519 shares of the company’s stock, valued at approximately $6,046,019.10. The trade was a 1.85 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CMO Amy Messano sold 235 shares of the business’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $111.53, for a total transaction of $26,209.55. Following the transaction, the chief marketing officer now directly owns 23,651 shares in the company, valued at approximately $2,637,796.03. The trade was a 0.98 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,220 shares of company stock valued at $1,470,974. 21.75% of the stock is currently owned by insiders.

Altair Engineering Price Performance

ALTR stock opened at $111.67 on Thursday. Altair Engineering Inc. has a 1 year low of $75.71 and a 1 year high of $113.12. The firm has a market capitalization of $9.58 billion, a PE ratio of 656.88, a price-to-earnings-growth ratio of 10.75 and a beta of 1.45. The business has a 50 day simple moving average of $110.86 and a 200-day simple moving average of $104.30.

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

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.