Xponance Inc. Grows Position in Altair Engineering Inc. (NASDAQ:ALTR)

Xponance Inc. raised its holdings in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 1.9% during the fourth quarter, HoldingsChannel reports. The firm owned 8,079 shares of the software’s stock after purchasing an additional 149 shares during the period. Xponance Inc.’s holdings in Altair Engineering were worth $882,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. NBT Bank N A NY lifted its stake in shares of Altair Engineering by 76.4% during the 4th quarter. NBT Bank N A NY now owns 247 shares of the software’s stock worth $27,000 after purchasing an additional 107 shares during the last quarter. UMB Bank n.a. lifted its position in shares of Altair Engineering by 77.0% during the fourth 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 last quarter. GAMMA Investing LLC grew its position in shares of Altair Engineering by 14.6% in the 4th quarter. GAMMA Investing LLC now owns 729 shares of the software’s stock worth $80,000 after buying an additional 93 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Altair Engineering by 185.5% during the 4th quarter. Blue Trust Inc. now owns 825 shares of the software’s stock worth $90,000 after acquiring an additional 536 shares in the last quarter. Finally, IFP Advisors Inc purchased a new stake in Altair Engineering during the fourth quarter valued at approximately $185,000. Institutional investors own 63.38% of the company’s stock.

Analysts Set New Price Targets

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

Insider Buying and Selling at Altair Engineering

In related news, CMO Amy Messano sold 235 shares of the firm’s stock in a transaction on 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 owns 23,651 shares of the company’s stock, valued at $2,637,796.03. This trade represents a 0.98 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Teresa A. Harris sold 450 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $111.08, for a total transaction of $49,986.00. Following the completion of the sale, the director now directly owns 18,092 shares in the company, valued at approximately $2,009,659.36. The trade was a 2.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,172 shares of company stock worth $1,356,847. Company insiders own 21.75% of the company’s stock.

Altair Engineering Price Performance

NASDAQ ALTR opened at $111.69 on Tuesday. The stock’s fifty day moving average price is $110.94 and its 200 day moving average price is $104.93. Altair Engineering Inc. has a 1 year low of $75.71 and a 1 year high of $113.12. The company has a market cap of $9.58 billion, a price-to-earnings ratio of 657.00, a PEG ratio of 10.75 and a beta of 1.45.

Altair Engineering (NASDAQ:ALTR) last announced its quarterly earnings data on Thursday, February 20th. The software reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.15). The firm had revenue of $192.63 million during the quarter, compared to analysts’ expectations of $182.98 million. Altair Engineering had a return on equity of 8.08% and a net margin of 2.13%. Research analysts expect that Altair Engineering Inc. will post 0.87 earnings per share for the current year.

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.