Zions Bancorporation N.A. Sells 9,760 Shares of Altair Engineering Inc. (NASDAQ:ALTR)

Zions Bancorporation N.A. lessened its position in Altair Engineering Inc. (NASDAQ:ALTR) by 43.4% during the fourth quarter, Holdings Channel reports. The fund owned 12,733 shares of the software’s stock after selling 9,760 shares during the period. Zions Bancorporation N.A.’s holdings in Altair Engineering were worth $1,389,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Altair Engineering by 4.8% during the 4th quarter. Vanguard Group Inc. now owns 6,894,230 shares of the software’s stock valued at $752,229,000 after purchasing an additional 317,575 shares during the last quarter. KLP Kapitalforvaltning AS bought a new position in Altair Engineering during the fourth quarter valued at approximately $1,342,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Altair Engineering by 382.5% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 63,202 shares of the software’s stock worth $6,896,000 after acquiring an additional 50,102 shares in the last quarter. Magnetar Financial LLC bought a new stake in shares of Altair Engineering in the 4th quarter worth approximately $62,142,000. Finally, Harvest Fund Management Co. Ltd boosted its stake in shares of Altair Engineering by 495.9% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 7,079 shares of the software’s stock valued at $743,000 after purchasing an additional 5,891 shares in the last quarter. Hedge funds and other institutional investors own 63.38% of the company’s stock.

Altair Engineering Price Performance

Shares of NASDAQ:ALTR opened at $111.85 on Wednesday. Altair Engineering Inc. has a 1 year low of $75.71 and a 1 year high of $113.12. The company has a market cap of $9.60 billion, a PE ratio of 657.94, a P/E/G ratio of 10.75 and a beta of 1.45. The stock’s 50-day moving average is $110.97 and its 200 day moving average is $105.12.

Altair Engineering (NASDAQ:ALTR) last issued its quarterly earnings data on Thursday, February 20th. The software reported $0.36 EPS 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 company had revenue of $192.63 million during the quarter, compared to analysts’ expectations of $182.98 million. Analysts expect that Altair Engineering Inc. will post 0.87 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Insider Activity at Altair Engineering

In related news, 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 sale, the chief marketing officer now owns 23,651 shares of the company’s stock, valued at $2,637,796.03. The trade was a 0.98 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Teresa A. Harris sold 2,700 shares of the firm’s stock in a transaction that occurred on Tuesday, February 25th. The shares were sold at an average price of $111.61, for a total transaction of $301,347.00. Following the transaction, the director now directly owns 18,542 shares of the company’s stock, valued at $2,069,472.62. This represents a 12.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 12,172 shares of company stock worth $1,356,847 over the last ninety days. 21.75% of the stock is owned by corporate insiders.

About Altair Engineering

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.