Swiss National Bank Has $8.96 Million Stock Position in Altair Engineering Inc. (NASDAQ:ALTR)

Swiss National Bank lessened its stake in shares of Altair Engineering Inc. (NASDAQ:ALTR - Free Report) by 9.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 106,500 shares of the software's stock after selling 10,900 shares during the quarter. Swiss National Bank owned about 0.13% of Altair Engineering worth $8,962,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ALTR. McGlone Suttner Wealth Management Inc. acquired a new position in Altair Engineering during the fourth quarter worth approximately $31,000. Harvest Fund Management Co. Ltd increased its holdings in shares of Altair Engineering by 1,157.7% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 981 shares of the software's stock valued at $83,000 after acquiring an additional 903 shares during the period. Allspring Global Investments Holdings LLC raised its position in 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 purchasing an additional 190 shares during the last quarter. SG Americas Securities LLC boosted its stake in Altair Engineering by 31.3% during the 3rd quarter. SG Americas Securities LLC now owns 2,171 shares of the software's stock worth $136,000 after purchasing an additional 518 shares during the period. Finally, Legato Capital Management LLC purchased a new position in Altair Engineering during the 4th quarter worth $217,000. Institutional investors and hedge funds own 63.38% of the company's stock.

Altair Engineering Price Performance

NASDAQ:ALTR traded up $1.28 during trading hours on Tuesday, hitting $86.75. The company's stock had a trading volume of 257,721 shares, compared to its average volume of 410,149. Altair Engineering Inc. has a 52-week low of $57.59 and a 52-week high of $92.92. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.46 and a current ratio of 2.46. The business's 50-day moving average is $83.32 and its two-hundred day moving average is $80.71. The company has a market capitalization of $7.20 billion, a PE ratio of 963.89, a PEG ratio of 10.77 and a beta of 1.42.

Altair Engineering (NASDAQ:ALTR - Get Free Report) last announced its quarterly earnings results on Thursday, May 2nd. The software reported $0.40 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.34 by $0.06. Altair Engineering had a net margin of 1.55% and a return on equity of 5.60%. The business had revenue of $172.91 million during the quarter, compared to the consensus estimate of $169.29 million. During the same quarter last year, the firm posted $0.13 EPS. The business's revenue was up 4.1% compared to the same quarter last year. As a group, research analysts anticipate that Altair Engineering Inc. will post 0.66 EPS for the current fiscal year.

Insider Activity

In other Altair Engineering news, Director Teresa A. Harris sold 620 shares of the company's stock in a transaction on Tuesday, April 2nd. The stock was sold at an average price of $84.00, for a total value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Altair Engineering news, Director Teresa A. Harris sold 620 shares of the company'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 sale, the director now owns 18,895 shares of the company's stock, valued at $1,587,180. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ravi Kunju sold 1,095 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $85.32, for a total transaction of $93,425.40. Following the completion of the sale, the insider now owns 30,582 shares in the company, valued at $2,609,256.24. The disclosure for this sale can be found here. In the last three months, insiders sold 256,956 shares of company stock worth $21,967,643. Company insiders own 21.75% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently commented on ALTR. Needham & Company LLC reaffirmed a "buy" rating and issued a $100.00 target price on shares of Altair Engineering in a report on Friday, May 3rd. Royal Bank of Canada reiterated a "sector perform" rating and issued a $90.00 target price on shares of Altair Engineering in a research note on Thursday, March 21st. Oppenheimer upped their price target on Altair Engineering from $95.00 to $100.00 and gave the stock an "outperform" rating in a research note on Friday, February 23rd. Rosenblatt Securities reiterated a "neutral" rating and issued a $88.00 price objective on shares of Altair Engineering in a research report on Monday, April 29th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Altair Engineering from $86.00 to $95.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 26th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, Altair Engineering has a consensus rating of "Moderate Buy" and an average target price of $94.60.

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.