Neuberger Berman Group LLC decreased its stake in Altair Engineering Inc. (NASDAQ:ALTR – Get Rating) by 83.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 254,143 shares of the software’s stock after selling 1,241,009 shares during the period. Neuberger Berman Group LLC owned 0.32% of Altair Engineering worth $11,633,000 at the end of the most recent reporting period.
Several other institutional investors also recently added to or reduced their stakes in ALTR. Impax Asset Management Group plc raised its stake in Altair Engineering by 18.6% in the 4th quarter. Impax Asset Management Group plc now owns 2,882,029 shares of the software’s stock valued at $130,377,000 after purchasing an additional 452,632 shares during the last quarter. BlackRock Inc. raised its holdings in shares of Altair Engineering by 7.5% in the 1st quarter. BlackRock Inc. now owns 4,879,144 shares of the software’s stock worth $314,217,000 after purchasing an additional 339,610 shares in the last quarter. Eaton Vance Management grew its holdings in shares of Altair Engineering by 24.9% during the first quarter. Eaton Vance Management now owns 1,228,336 shares of the software’s stock valued at $79,104,000 after buying an additional 244,872 shares in the last quarter. Millennium Management LLC increased its stake in shares of Altair Engineering by 405.9% in the second quarter. Millennium Management LLC now owns 192,186 shares of the software’s stock worth $10,090,000 after acquiring an additional 154,199 shares during the last quarter. Finally, Nicholas Company Inc. acquired a new stake in shares of Altair Engineering in the fourth quarter worth about $4,139,000. Institutional investors and hedge funds own 61.66% of the company’s stock.
Analysts Set New Price Targets
ALTR has been the topic of several research analyst reports. Oppenheimer upped their price objective on shares of Altair Engineering from $60.00 to $65.00 and gave the stock an “outperform” rating in a research note on Friday, February 24th. 51job reissued a “maintains” rating on shares of Altair Engineering in a research report on Friday, May 5th. Rosenblatt Securities raised their price target on shares of Altair Engineering from $63.00 to $67.00 and gave the company a “buy” rating in a research note on Friday, February 24th. TheStreet raised Altair Engineering from a “d+” rating to a “c” rating in a research note on Friday, February 24th. Finally, The Goldman Sachs Group upgraded shares of Altair Engineering from a “sell” rating to a “neutral” rating and upped their price objective for the company from $44.00 to $67.00 in a report on Friday, May 5th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Altair Engineering presently has an average rating of “Moderate Buy” and an average price target of $71.17.
Altair Engineering Stock Performance
Altair Engineering (NASDAQ:ALTR – Get Rating) last announced its earnings results on Thursday, May 4th. The software reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.11 by $0.02. The firm had revenue of $166.03 million for the quarter, compared to analyst estimates of $157.10 million. Altair Engineering had a negative return on equity of 0.23% and a negative net margin of 9.84%. Analysts expect that Altair Engineering Inc. will post 0.22 earnings per share for the current fiscal year.
Insider Buying and Selling at Altair Engineering
In other news, insider Raoul Maitra sold 847 shares of Altair Engineering stock in a transaction on Friday, May 26th. The shares were sold at an average price of $72.70, for a total value of $61,576.90. Following the transaction, the insider now directly owns 23,144 shares of the company’s stock, valued at approximately $1,682,568.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, insider Raoul Maitra sold 847 shares of the business’s stock in a transaction on Friday, May 26th. The stock was sold at an average price of $72.70, for a total value of $61,576.90. Following the completion of the transaction, the insider now directly owns 23,144 shares of the company’s stock, valued at $1,682,568.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jeffrey Marraccini sold 3,151 shares of the stock in a transaction on Wednesday, June 7th. The stock was sold at an average price of $74.94, for a total value of $236,135.94. Following the completion of the transaction, the insider now directly owns 4,002 shares in the company, valued at $299,909.88. The disclosure for this sale can be found here. Insiders have sold 354,372 shares of company stock valued at $25,176,103 in the last quarter. Corporate insiders own 22.17% of the company’s stock.
Altair Engineering Profile
Altair Engineering, Inc engages in the provision of software and cloud solutions for product design & development, high performance cloud computing, and data intelligence. It operates through the following segments: Software and Client Engineering Services. The Software segment includes a portfolio of software products, as well as solvers and optimization technology products, modelling and visualization tools.
Read More
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