Natixis Invests $4.15 Million in Altair Engineering Inc. (NASDAQ:ALTR)

Natixis bought a new position in shares of Altair Engineering Inc. (NASDAQ:ALTR) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 38,024 shares of the software’s stock, valued at approximately $4,149,000.

Other institutional investors have also recently added to or reduced their stakes in the company. MML Investors Services LLC grew its stake in shares of Altair Engineering by 12.4% in the third quarter. MML Investors Services LLC now owns 6,007 shares of the software’s stock worth $574,000 after purchasing an additional 665 shares during the last quarter. Retirement Systems of Alabama increased its stake in shares of Altair Engineering by 2.7% in the third quarter. Retirement Systems of Alabama now owns 72,191 shares of the software’s stock valued at $6,895,000 after buying an additional 1,904 shares during the period. GAMMA Investing LLC raised its position in shares of Altair Engineering by 14.6% during the fourth quarter. GAMMA Investing LLC now owns 729 shares of the software’s stock worth $80,000 after acquiring an additional 93 shares during the last quarter. Harbor Capital Advisors Inc. lifted its stake in shares of Altair Engineering by 16.6% in the fourth quarter. Harbor Capital Advisors Inc. now owns 11,678 shares of the software’s stock worth $1,274,000 after acquiring an additional 1,661 shares during the period. Finally, PFW Advisors LLC bought a new stake in Altair Engineering in the fourth quarter valued at approximately $227,000. 63.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on ALTR shares. Rosenblatt Securities restated a “neutral” rating and issued a $113.00 price target on shares of Altair Engineering in a research report on Monday, February 24th. Needham & Company LLC restated a “hold” rating on shares of Altair Engineering in a report on Friday, February 21st. One investment analyst has rated the stock with a sell rating and seven have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $100.83.

Altair Engineering Price Performance

NASDAQ:ALTR opened at $111.85 on Tuesday. Altair Engineering Inc. has a twelve month low of $75.71 and a twelve month high of $113.12. The company has a fifty day moving average of $111.60 and a 200-day moving average of $107.96. The firm has a market capitalization of $9.60 billion, a P/E ratio of 657.94, a P/E/G ratio of 10.75 and a beta of 1.45.

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

Insiders Place Their Bets

In related news, Director Teresa A. Harris sold 2,700 shares of the stock in a transaction on Tuesday, February 25th. The stock was sold at an average price of $111.61, for a total value of $301,347.00. Following the transaction, the director now directly owns 18,542 shares in the company, valued at $2,069,472.62. This trade represents a 12.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Matthew Charles Brown sold 3,811 shares of Altair Engineering stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $111.53, for a total transaction of $425,040.83. Following the completion of the sale, the chief financial officer now directly owns 69,394 shares of the company’s stock, valued at approximately $7,739,512.82. The trade was a 5.21 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 12,172 shares of company stock worth $1,356,847. Corporate insiders own 21.75% of the company’s stock.

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.