Blue Trust Inc. Acquires 536 Shares of Altair Engineering Inc. (NASDAQ:ALTR)

Blue Trust Inc. increased its holdings in Altair Engineering Inc. (NASDAQ:ALTR) by 185.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 825 shares of the software’s stock after buying an additional 536 shares during the period. Blue Trust Inc.’s holdings in Altair Engineering were worth $90,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Fisher Asset Management LLC raised its stake in 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 buying an additional 85,303 shares in the last quarter. Citigroup Inc. grew its holdings in 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 purchasing an additional 29,556 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Altair Engineering in the third quarter worth $1,356,000. Versor Investments LP purchased a new position in Altair Engineering in the third quarter worth $487,000. Finally, UMB Bank n.a. grew its holdings in 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 purchasing an additional 124 shares during the last quarter. Institutional investors own 63.38% of the company’s stock.

Insider Activity at Altair Engineering

In other Altair Engineering news, CRO Nelson Dias sold 22,500 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $106.23, for a total value of $2,390,175.00. Following the completion of the transaction, the executive now owns 48,437 shares in the company, valued at approximately $5,145,462.51. This represents a 31.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Matthew Charles Brown sold 1,048 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was 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. This trade represents a 1.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 59,143 shares of company stock worth $6,265,694 over the last three months. Company insiders own 21.75% of the company’s stock.

Altair Engineering Price Performance

Shares of ALTR opened at $111.78 on Friday. The firm has a market capitalization of $9.51 billion, a PE ratio of 657.53, a price-to-earnings-growth ratio of 10.75 and a beta of 1.42. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.27 and a quick ratio of 3.27. Altair Engineering Inc. has a 1-year low of $75.71 and a 1-year high of $113.12. The company’s fifty day moving average price is $109.90 and its 200-day moving average price is $101.53.

Altair Engineering (NASDAQ:ALTR) last posted its earnings results on Thursday, February 20th. The software reported $0.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.15). The business had revenue of $192.63 million for the quarter, compared to analyst estimates of $182.98 million. Altair Engineering had a net margin of 2.13% and a return on equity of 8.23%. On average, equities research analysts predict that Altair Engineering Inc. will post 0.87 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on ALTR shares. William Blair reaffirmed a “market perform” rating on shares of Altair Engineering in a report on Thursday, October 31st. Rosenblatt Securities lifted their price target on shares of Altair Engineering from $88.00 to $113.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Loop Capital reaffirmed a “hold” rating and issued a $113.00 price target on shares of Altair Engineering in a report on Thursday, October 31st. Royal Bank of Canada lifted their price target on shares of Altair Engineering from $90.00 to $113.00 and gave the stock a “sector perform” rating in a report on Thursday, October 31st. Finally, Needham & Company LLC reissued a “hold” rating on shares of Altair Engineering in a report on Friday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $100.71.

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.