Altair Engineering Inc. (NASDAQ:ALTR) Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC trimmed its holdings in Altair Engineering Inc. (NASDAQ:ALTR) by 12.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,337 shares of the software’s stock after selling 921 shares during the quarter. Cresset Asset Management LLC’s holdings in Altair Engineering were worth $691,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ALTR. UMB Bank n.a. increased its stake in Altair Engineering by 77.0% in the 4th quarter. UMB Bank n.a. now owns 285 shares of the software’s stock valued at $31,000 after buying an additional 124 shares during the period. Blue Trust Inc. increased its stake 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 buying an additional 536 shares during the period. KBC Group NV increased its stake in Altair Engineering by 62.4% in the 4th quarter. KBC Group NV now owns 2,663 shares of the software’s stock valued at $291,000 after buying an additional 1,023 shares during the period. Retirement Systems of Alabama increased its stake in Altair Engineering by 0.7% in the 4th quarter. Retirement Systems of Alabama now owns 72,685 shares of the software’s stock valued at $7,931,000 after buying an additional 494 shares during the period. Finally, Louisiana State Employees Retirement System increased its stake in Altair Engineering by 0.6% in the 4th quarter. Louisiana State Employees Retirement System now owns 16,600 shares of the software’s stock valued at $1,811,000 after buying an additional 100 shares during the period. 63.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Altair Engineering Stock Performance

Shares of NASDAQ ALTR opened at $111.85 on Wednesday. The firm has a market capitalization of $9.60 billion, a P/E ratio of 657.94, a PEG ratio of 10.75 and a beta of 1.45. Altair Engineering Inc. has a one year low of $75.71 and a one year high of $113.12. The company’s fifty day moving average is $111.76 and its two-hundred day moving average is $109.48.

Altair Engineering (NASDAQ:ALTR) last issued its earnings results 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 for the quarter, compared to analysts’ expectations of $182.98 million. On average, sell-side analysts forecast that Altair Engineering Inc. will post 0.87 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Teresa A. Harris sold 2,700 shares of the business’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $111.61, for a total value of $301,347.00. Following the sale, the director now directly owns 18,542 shares in the company, valued at $2,069,472.62. The trade was a 12.71% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Matthew Charles Brown sold 3,811 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $111.53, for a total transaction of $425,040.83. Following the completion of the sale, the chief financial officer now owns 69,394 shares in the company, valued at $7,739,512.82. This represents a 5.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 12,172 shares of company stock worth $1,356,847 in the last three months. Corporate insiders own 21.75% of the company’s stock.

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.