Handelsbanken Fonder AB Has $741,000 Holdings in Altair Engineering Inc. (NASDAQ:ALTR)

Handelsbanken Fonder AB lifted its position in Altair Engineering Inc. (NASDAQ:ALTR) by 37.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 8,800 shares of the software’s stock after acquiring an additional 2,400 shares during the period. Handelsbanken Fonder AB’s holdings in Altair Engineering were worth $741,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ALTR. Allspring Global Investments Holdings LLC grew its position in shares of Altair Engineering by 10.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,991 shares of the software’s stock valued at $125,000 after acquiring an additional 190 shares during the period. Natixis Advisors L.P. lifted its stake in Altair Engineering by 1.8% in the 3rd quarter. Natixis Advisors L.P. now owns 17,104 shares of the software’s stock valued at $1,070,000 after purchasing an additional 296 shares during the last quarter. McGlone Suttner Wealth Management Inc. bought a new position in Altair Engineering during the fourth quarter worth about $31,000. Arizona State Retirement System increased its position in Altair Engineering by 3.3% during the third quarter. Arizona State Retirement System now owns 15,208 shares of the software’s stock worth $951,000 after buying an additional 492 shares during the last quarter. Finally, SG Americas Securities LLC raised its stake in Altair Engineering by 31.3% in the third quarter. SG Americas Securities LLC now owns 2,171 shares of the software’s stock valued at $136,000 after buying an additional 518 shares during the period. 63.38% of the stock is currently owned by institutional investors and hedge funds.

Altair Engineering Trading Down 1.3 %

Shares of Altair Engineering stock opened at $82.46 on Tuesday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 2.16 and a current ratio of 2.16. The firm has a 50-day moving average of $83.71 and a 200-day moving average of $79.02. Altair Engineering Inc. has a 52-week low of $57.59 and a 52-week high of $92.92. The stock has a market cap of $6.80 billion, a PE ratio of -634.31, a PEG ratio of 11.14 and a beta of 1.42.

Altair Engineering (NASDAQ:ALTR) last issued its quarterly earnings data on Thursday, February 22nd. The software reported $0.29 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.07. Altair Engineering had a negative net margin of 1.46% and a positive return on equity of 3.77%. The business had revenue of $171.50 million during the quarter, compared to analysts’ expectations of $172.48 million. As a group, sell-side analysts forecast that Altair Engineering Inc. will post 0.63 EPS for the current year.

Insider Activity

In related news, Director Teresa A. Harris sold 620 shares of the stock in a transaction that occurred on Tuesday, April 2nd. The stock was sold at an average price of $84.00, for a total transaction of $52,080.00. Following the sale, the director now owns 18,895 shares of the company’s stock, valued at $1,587,180. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, major shareholder George J. Christ sold 83,336 shares of the firm’s stock in a transaction on Thursday, March 28th. The stock was sold at an average price of $85.99, for a total value of $7,166,062.64. Following the transaction, the insider now owns 200,000 shares in the company, valued at $17,198,000. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Teresa A. Harris sold 620 shares of the business’s stock in a transaction dated Tuesday, April 2nd. The shares were sold at an average price of $84.00, for a total value of $52,080.00. Following the completion of the transaction, the director now directly owns 18,895 shares of the company’s stock, valued at approximately $1,587,180. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 161,830 shares of company stock worth $13,876,320. Corporate insiders own 21.75% of the company’s stock.

Wall Street Analyst Weigh In

ALTR has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their target price on Altair Engineering from $86.00 to $95.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 26th. Oppenheimer upped their price objective on shares of Altair Engineering from $95.00 to $100.00 and gave the company an “outperform” rating in a report on Friday, February 23rd. Royal Bank of Canada restated a “sector perform” rating and set a $90.00 target price on shares of Altair Engineering in a research note on Thursday, March 21st. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price target on shares of Altair Engineering in a research note on Monday, March 25th. Finally, Rosenblatt Securities restated a “neutral” rating and set a $88.00 price objective on shares of Altair Engineering in a research report on Monday. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $90.00.

About Altair Engineering

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.