Securian Asset Management Inc. Sells 100 Shares of Altair Engineering Inc. (NASDAQ:ALTR)

Securian Asset Management Inc. reduced its position in Altair Engineering Inc. (NASDAQ:ALTR) by 2.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,442 shares of the software’s stock after selling 100 shares during the quarter. Securian Asset Management Inc.’s holdings in Altair Engineering were worth $485,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC boosted its holdings 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 period. Louisiana State Employees Retirement System raised its position in shares of Altair Engineering by 0.6% in the fourth quarter. Louisiana State Employees Retirement System now owns 16,600 shares of the software’s stock worth $1,811,000 after buying an additional 100 shares in the last quarter. New York State Teachers Retirement System boosted its stake in Altair Engineering by 1.2% during the fourth quarter. New York State Teachers Retirement System now owns 8,600 shares of the software’s stock valued at $938,000 after buying an additional 100 shares during the period. State of Michigan Retirement System grew its position in Altair Engineering by 0.7% during the fourth quarter. State of Michigan Retirement System now owns 14,200 shares of the software’s stock worth $1,549,000 after buying an additional 100 shares in the last quarter. Finally, NBT Bank N A NY increased its stake in Altair Engineering by 76.4% in the 4th quarter. NBT Bank N A NY now owns 247 shares of the software’s stock worth $27,000 after acquiring an additional 107 shares during the last quarter. Hedge funds and other institutional investors own 63.38% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Needham & Company LLC reiterated a “hold” rating on shares of Altair Engineering in a research report on Friday, February 21st. Rosenblatt Securities reissued a “neutral” rating and issued a $113.00 price target on shares of Altair Engineering in a research note on Monday, February 24th. One analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $100.83.

Insider Activity at Altair Engineering

In other news, CMO Amy Messano sold 235 shares of the company’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 completion of the transaction, the chief marketing officer now directly owns 23,651 shares of the company’s stock, valued at approximately $2,637,796.03. This represents a 0.98 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Matthew Charles Brown sold 1,048 shares of the firm’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $108.90, for a total value of $114,127.20. Following the completion of the sale, the chief financial officer now directly owns 55,519 shares in the company, valued at $6,046,019.10. The trade was a 1.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,805 shares of company stock worth $1,202,184 in the last ninety days. 21.75% of the stock is owned by company insiders.

Altair Engineering Stock Performance

ALTR stock opened at $111.42 on Tuesday. The company has a market capitalization of $9.56 billion, a PE ratio of 655.41, a price-to-earnings-growth 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 50 day moving average price is $110.80 and its two-hundred day moving average price is $104.10.

Altair Engineering (NASDAQ:ALTR) last posted its quarterly earnings results 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 the consensus estimate of $182.98 million. On average, research analysts predict that Altair Engineering Inc. will post 0.87 EPS for the current 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.