Altair Engineering Inc. (NASDAQ:ALTR) Shares Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. trimmed its stake in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 1.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 12,588 shares of the software’s stock after selling 200 shares during the period. Vontobel Holding Ltd.’s holdings in Altair Engineering were worth $1,202,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Matrix Capital Management Company LP boosted its position in Altair Engineering by 1.6% in the 1st quarter. Matrix Capital Management Company LP now owns 12,430,000 shares of the software’s stock worth $1,070,844,000 after purchasing an additional 196,826 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Altair Engineering by 3.2% during the first quarter. Vanguard Group Inc. now owns 5,944,285 shares of the software’s stock worth $512,100,000 after buying an additional 182,840 shares in the last quarter. Conestoga Capital Advisors LLC grew its position in Altair Engineering by 2.0% during the second quarter. Conestoga Capital Advisors LLC now owns 2,488,566 shares of the software’s stock valued at $244,079,000 after buying an additional 48,485 shares during the period. William Blair Investment Management LLC purchased a new position in Altair Engineering in the second quarter valued at $91,589,000. Finally, Bank of New York Mellon Corp raised its position in shares of Altair Engineering by 121.7% in the second quarter. Bank of New York Mellon Corp now owns 569,109 shares of the software’s stock worth $55,818,000 after acquiring an additional 312,448 shares during the period. 63.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director Teresa A. Harris sold 620 shares of Altair Engineering stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $82.57, for a total transaction of $51,193.40. Following the transaction, the director now owns 21,242 shares in the company, valued at approximately $1,753,951.94. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, major shareholder Jrs Investments Llc sold 6,500 shares of Altair Engineering stock in a transaction that occurred on Monday, July 29th. The shares were sold at an average price of $88.11, for a total transaction of $572,715.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Teresa A. Harris sold 620 shares of Altair Engineering stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $82.57, for a total value of $51,193.40. Following the completion of the sale, the director now owns 21,242 shares in the company, valued at $1,753,951.94. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 260,360 shares of company stock worth $24,537,300 over the last ninety days. Corporate insiders own 21.75% of the company’s stock.

Altair Engineering Stock Down 0.1 %

NASDAQ ALTR opened at $95.66 on Friday. The business has a fifty day moving average price of $91.38 and a 200 day moving average price of $90.15. The company has a debt-to-equity ratio of 0.29, a quick ratio of 3.14 and a current ratio of 3.14. The company has a market cap of $7.94 billion, a P/E ratio of 1,062.89, a P/E/G ratio of 12.15 and a beta of 1.45. Altair Engineering Inc. has a one year low of $57.59 and a one year high of $101.39.

Altair Engineering (NASDAQ:ALTR) last posted its quarterly earnings results on Thursday, August 1st. The software reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.01. Altair Engineering had a net margin of 4.26% and a return on equity of 6.89%. The firm had revenue of $148.80 million for the quarter, compared to the consensus estimate of $146.88 million. During the same period last year, the firm posted ($0.15) earnings per share. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. Research analysts anticipate that Altair Engineering Inc. will post 0.65 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ALTR has been the subject of several recent analyst reports. The Goldman Sachs Group lowered Altair Engineering from a “neutral” rating to a “sell” rating and cut their price target for the company from $85.00 to $71.00 in a research note on Friday, August 2nd. JPMorgan Chase & Co. lowered Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 target price on the stock. in a research report on Monday, July 15th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $100.00 price target on shares of Altair Engineering in a report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Altair Engineering presently has a consensus rating of “Hold” and an average price target of $90.67.

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.