Captrust Financial Advisors Sells 2,268 Shares of Altair Engineering Inc. (NASDAQ:ALTR)

Captrust Financial Advisors cut its holdings in Altair Engineering Inc. (NASDAQ:ALTR) by 36.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,936 shares of the software’s stock after selling 2,268 shares during the quarter. Captrust Financial Advisors’ holdings in Altair Engineering were worth $429,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in shares of Altair Engineering by 4.8% in the fourth quarter. Vanguard Group Inc. now owns 6,894,230 shares of the software’s stock worth $752,229,000 after acquiring an additional 317,575 shares during the period. Northern Trust Corp boosted its holdings in Altair Engineering by 9.2% in the fourth quarter. Northern Trust Corp now owns 751,191 shares of the software’s stock worth $81,962,000 after purchasing an additional 63,368 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Altair Engineering by 2.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 591,573 shares of the software’s stock worth $64,547,000 after purchasing an additional 12,585 shares during the period. Magnetar Financial LLC purchased a new stake in Altair Engineering during the 4th quarter valued at $62,142,000. Finally, Norges Bank bought a new position in shares of Altair Engineering during the 4th quarter valued at $37,899,000. 63.38% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Teresa A. Harris sold 2,700 shares of the firm’s stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $111.61, for a total transaction of $301,347.00. Following the sale, the director now owns 18,542 shares in the company, valued at approximately $2,069,472.62. This trade represents a 12.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CRO Nelson Dias sold 1,671 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $111.30, for a total value of $185,982.30. Following the sale, the executive now owns 55,411 shares in the company, valued at $6,167,244.30. This trade represents a 2.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,172 shares of company stock valued at $1,356,847. Insiders own 21.75% of the company’s stock.

Wall Street Analysts Forecast Growth

ALTR has been the subject of a number of research reports. Needham & Company LLC reaffirmed a “hold” rating on shares of Altair Engineering in a report on Friday, February 21st. Rosenblatt Securities reissued a “neutral” rating and set a $113.00 price objective on shares of Altair Engineering in a research report 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 an average rating of “Hold” and a consensus price target of $100.83.

Altair Engineering Stock Performance

Altair Engineering stock opened at $111.85 on Tuesday. The company has a market capitalization of $9.60 billion, a PE ratio of 657.94, a P/E/G ratio of 10.75 and a beta of 1.45. The company has a 50 day moving average price of $111.81 and a 200-day moving average price of $109.67. Altair Engineering Inc. has a fifty-two week low of $75.71 and a fifty-two week high of $113.12.

Altair Engineering (NASDAQ:ALTR) last issued 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). Altair Engineering had a net margin of 2.13% and a return on equity of 8.08%. The business had revenue of $192.63 million for the quarter, compared to analysts’ expectations of $182.98 million. On average, analysts forecast that Altair Engineering Inc. will post 0.87 earnings per share 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.