Securian Asset Management Inc. Sells 100 Shares of Altair Engineering Inc. (NASDAQ:ALTR)

Securian Asset Management Inc. trimmed its stake in Altair Engineering Inc. (NASDAQ:ALTR) by 2.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,442 shares of the software’s stock after selling 100 shares during the period. Securian Asset Management Inc.’s holdings in Altair Engineering were worth $485,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Massachusetts Financial Services Co. MA lifted its holdings in Altair Engineering by 31.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 392,343 shares of the software’s stock worth $37,473,000 after buying an additional 94,219 shares during the period. Fisher Asset Management LLC raised its position in shares of Altair Engineering by 27.0% in the 3rd quarter. Fisher Asset Management LLC now owns 401,612 shares of the software’s stock worth $38,358,000 after acquiring an additional 85,303 shares in the last quarter. New York Life Investment Management LLC lifted its stake in shares of Altair Engineering by 1,103.3% in the 4th quarter. New York Life Investment Management LLC now owns 76,363 shares of the software’s stock valued at $8,332,000 after purchasing an additional 70,017 shares during the period. State Street Corp boosted its position in shares of Altair Engineering by 3.3% during the third 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 in the last quarter. Finally, Versor Investments LP raised its holdings in Altair Engineering by 1,069.9% in the fourth quarter. Versor Investments LP now owns 59,655 shares of the software’s stock worth $6,509,000 after purchasing an additional 54,556 shares in the last quarter. Institutional investors own 63.38% of the company’s stock.

Analyst Ratings Changes

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

Insider Buying and Selling at Altair Engineering

In other news, Director Teresa A. Harris sold 450 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 18,092 shares of the company’s stock, valued at $2,009,659.36. The trade was a 2.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Matthew Charles Brown sold 1,048 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $108.90, for a total transaction of $114,127.20. Following the completion of the sale, the chief financial officer now owns 55,519 shares in the company, valued at $6,046,019.10. This represents a 1.85 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 10,805 shares of company stock worth $1,202,184. Insiders own 21.75% of the company’s stock.

Altair Engineering Price Performance

Shares of Altair Engineering stock opened at $111.42 on Tuesday. Altair Engineering Inc. has a 1 year low of $75.71 and a 1 year high of $113.12. The firm’s 50-day moving average is $110.80 and its 200 day moving average is $104.10. The stock has a market cap of $9.56 billion, a price-to-earnings ratio of 655.41, a PEG ratio of 10.75 and a beta of 1.45.

Altair Engineering (NASDAQ:ALTR) last issued its earnings results 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 the consensus estimate of $182.98 million. Altair Engineering had a return on equity of 8.08% and a net margin of 2.13%. On average, equities analysts expect that Altair Engineering Inc. will post 0.87 EPS 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.