Schechter Investment Advisors LLC Has $465,000 Stock Position in Altair Engineering Inc. (NASDAQ:ALTR)

Schechter Investment Advisors LLC reduced its position in Altair Engineering Inc. (NASDAQ:ALTR) by 14.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 4,261 shares of the software’s stock after selling 736 shares during the period. Schechter Investment Advisors LLC’s holdings in Altair Engineering were worth $465,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. State Street Corp lifted its stake in Altair Engineering by 3.3% in the 3rd quarter. State Street Corp now owns 2,053,957 shares of the software’s stock valued at $196,173,000 after purchasing an additional 65,589 shares during the last quarter. Geode Capital Management LLC lifted its stake in Altair Engineering by 3.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,423,880 shares of the software’s stock valued at $136,020,000 after purchasing an additional 53,088 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Altair Engineering by 9.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 505,470 shares of the software’s stock valued at $48,277,000 after purchasing an additional 42,592 shares during the last quarter. Fisher Asset Management LLC lifted its stake in Altair Engineering by 27.0% in the 3rd quarter. Fisher Asset Management LLC now owns 401,612 shares of the software’s stock valued at $38,358,000 after purchasing an additional 85,303 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in Altair Engineering by 31.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 392,343 shares of the software’s stock valued at $37,473,000 after purchasing an additional 94,219 shares during the last quarter. 63.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Altair Engineering

In other news, CRO Nelson Dias sold 22,500 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $106.23, for a total transaction of $2,390,175.00. Following the transaction, the executive now directly owns 48,437 shares of the company’s stock, valued at approximately $5,145,462.51. This trade represents a 31.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Matthew Charles Brown sold 1,048 shares of Altair Engineering stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $108.90, for a total transaction of $114,127.20. Following the completion of the transaction, the chief financial officer now directly owns 55,519 shares in the company, valued at $6,046,019.10. This trade represents a 1.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 32,855 shares of company stock valued at $3,542,373. 21.75% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. Rosenblatt Securities reiterated a “neutral” rating and issued a $113.00 target price on shares of Altair Engineering in a research note on Monday, February 24th. Needham & Company LLC reissued a “hold” rating on shares of Altair Engineering in a report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $100.83.

Altair Engineering Trading Down 0.0 %

Shares of ALTR opened at $111.32 on Thursday. Altair Engineering Inc. has a 12 month low of $75.71 and a 12 month high of $113.12. The firm’s 50 day moving average is $110.49 and its 200-day moving average is $102.79. The stock has a market capitalization of $9.55 billion, a PE ratio of 654.82, a P/E/G ratio of 10.75 and a beta of 1.45.

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

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.