Skandinaviska Enskilda Banken AB publ Takes Position in Altair Engineering Inc. (NASDAQ:ALTR)

Skandinaviska Enskilda Banken AB publ purchased a new stake in Altair Engineering Inc. (NASDAQ:ALTR) during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 12,000 shares of the software’s stock, valued at approximately $1,309,000.

Several other institutional investors have also modified their holdings of ALTR. NBT Bank N A NY increased its stake in Altair Engineering by 76.4% during the 4th quarter. NBT Bank N A NY now owns 247 shares of the software’s stock worth $27,000 after buying an additional 107 shares in the last quarter. UMB Bank n.a. increased its position in shares of Altair Engineering by 77.0% during the fourth quarter. UMB Bank n.a. now owns 285 shares of the software’s stock worth $31,000 after purchasing an additional 124 shares in the last quarter. GAMMA Investing LLC raised its stake in Altair Engineering by 14.6% in the 4th quarter. GAMMA Investing LLC now owns 729 shares of the software’s stock valued at $80,000 after purchasing an additional 93 shares during the last quarter. Blue Trust Inc. lifted its holdings in Altair Engineering by 185.5% in the 4th quarter. Blue Trust Inc. now owns 825 shares of the software’s stock valued at $90,000 after purchasing an additional 536 shares in the last quarter. Finally, KBC Group NV grew its holdings in shares of Altair Engineering by 17.9% during the third quarter. KBC Group NV now owns 1,640 shares of the software’s stock worth $157,000 after buying an additional 249 shares in the last quarter. Institutional investors and hedge funds own 63.38% of the company’s stock.

Wall Street Analyst Weigh In

ALTR has been the topic of a number of recent research reports. 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 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 company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $100.83.

Altair Engineering Price Performance

Altair Engineering stock opened at $111.42 on Tuesday. The firm has a 50 day simple moving average of $110.80 and a 200-day simple moving average of $104.10. The stock has a market cap of $9.56 billion, a price-to-earnings ratio of 655.41, a price-to-earnings-growth ratio of 10.75 and a beta of 1.45. Altair Engineering Inc. has a 1-year low of $75.71 and a 1-year high of $113.12.

Altair Engineering (NASDAQ:ALTR) last issued its quarterly earnings data on Thursday, February 20th. The software reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.15). Altair Engineering had a return on equity of 8.08% and a net margin of 2.13%. The business had revenue of $192.63 million during the quarter, compared to analysts’ expectations of $182.98 million. Equities analysts expect that Altair Engineering Inc. will post 0.87 earnings per share for the current fiscal year.

Insider Buying and Selling at Altair Engineering

In other Altair Engineering news, CRO Nelson Dias sold 373 shares of the company’s stock in a transaction on Wednesday, February 26th. The stock was sold at an average price of $111.53, for a total transaction of $41,600.69. Following the transaction, the executive now directly owns 57,573 shares in the company, valued at $6,421,116.69. This represents a 0.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Teresa A. Harris sold 2,700 shares of the firm’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 transaction, the director now owns 18,542 shares of the company’s stock, valued at approximately $2,069,472.62. This represents a 12.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,805 shares of company stock valued at $1,202,184 over the last 90 days. 21.75% of the stock is owned by insiders.

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.