Altair Engineering Inc. (NASDAQ:ALTR) Shares Sold by Marco Investment Management LLC

Marco Investment Management LLC reduced its stake in Altair Engineering Inc. (NASDAQ:ALTR) by 17.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,485 shares of the software’s stock after selling 530 shares during the period. Marco Investment Management LLC’s holdings in Altair Engineering were worth $271,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. State Street Corp raised its stake in shares of Altair Engineering by 3.3% in the third quarter. State Street Corp now owns 2,053,957 shares of the software’s stock valued at $196,173,000 after acquiring an additional 65,589 shares in the last quarter. Geode Capital Management LLC increased its holdings in Altair Engineering by 3.9% in the third quarter. Geode Capital Management LLC now owns 1,423,880 shares of the software’s stock valued at $136,020,000 after buying an additional 53,088 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Altair Engineering by 9.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 505,470 shares of the software’s stock valued at $48,277,000 after buying an additional 42,592 shares during the last quarter. Fisher Asset Management LLC increased its holdings in 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 buying an additional 85,303 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its holdings in Altair Engineering by 31.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 392,343 shares of the software’s stock valued at $37,473,000 after buying an additional 94,219 shares during the last quarter. 63.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

ALTR has been the topic of several recent analyst reports. Rosenblatt Securities reissued a “neutral” rating and issued a $113.00 target price on shares of Altair Engineering in a report on Monday, February 24th. Needham & Company LLC reissued a “hold” rating on shares of Altair Engineering in a report on Friday, February 21st. One investment analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $100.83.

Insider Transactions at Altair Engineering

In related news, Director Teresa A. Harris sold 450 shares of the business’s stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $111.08, for a total value of $49,986.00. Following the transaction, the director now owns 18,092 shares in the company, valued at $2,009,659.36. The trade was a 2.43 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Matthew Charles Brown sold 742 shares of the business’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $111.45, for a total value of $82,695.90. Following the completion of the transaction, the chief financial officer now owns 68,652 shares in the company, valued at $7,651,265.40. This trade represents a 1.07 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 33,305 shares of company stock worth $3,592,359. Corporate insiders own 21.75% of the company’s stock.

Altair Engineering Stock Performance

ALTR opened at $111.24 on Friday. The business’s 50-day simple moving average is $110.53 and its 200-day simple moving average is $102.84. Altair Engineering Inc. has a one year low of $75.71 and a one year high of $113.12. The stock has a market capitalization of $9.54 billion, a P/E ratio of 654.35, a price-to-earnings-growth ratio of 10.75 and a beta of 1.45.

Altair Engineering (NASDAQ:ALTR) last posted its earnings results on Thursday, February 20th. The software reported $0.36 EPS 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 firm had revenue of $192.63 million for the quarter, compared to analyst estimates of $182.98 million. On average, equities research analysts forecast that Altair Engineering Inc. will post 0.87 EPS for the current fiscal 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.