Altair Engineering Inc. (NASDAQ:ALTR) Shares Purchased by Schonfeld Strategic Advisors LLC

Schonfeld Strategic Advisors LLC lifted its stake in Altair Engineering Inc. (NASDAQ:ALTR) by 13,097.8% during the 4th quarter, HoldingsChannel.com reports. The fund owned 331,528 shares of the software’s stock after purchasing an additional 329,016 shares during the quarter. Schonfeld Strategic Advisors LLC’s holdings in Altair Engineering were worth $36,173,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the stock. Pentwater Capital Management LP acquired a new position in shares of Altair Engineering in the 4th quarter worth approximately $7,568,000. TIG Advisors LLC purchased a new position in shares of Altair Engineering in the 4th quarter valued at $24,055,000. Northern Trust Corp grew its position in Altair Engineering by 9.2% during the 4th 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. Johnson Financial Group Inc. purchased a new position in Altair Engineering during the 4th quarter worth $37,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in shares of Altair Engineering in the fourth quarter valued at about $873,000. 63.38% of the stock is currently owned by institutional investors and hedge funds.

Altair Engineering Price Performance

Shares of Altair Engineering stock opened at $111.85 on Tuesday. The business has a 50-day moving average of $111.69 and a 200-day moving average of $108.56. Altair Engineering Inc. has a 1-year low of $75.71 and a 1-year high of $113.12. 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.

Altair Engineering (NASDAQ:ALTR) last announced 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 return on equity of 8.08% and a net margin of 2.13%. The firm had revenue of $192.63 million for the quarter, compared to the consensus estimate of $182.98 million. On average, equities analysts expect that Altair Engineering Inc. will post 0.87 earnings per share for the current fiscal year.

Insider Activity

In other Altair Engineering news, Director Teresa A. Harris sold 2,700 shares of the stock in a transaction on Tuesday, February 25th. The shares were sold at an average price of $111.61, for a total value of $301,347.00. Following the completion of the sale, the director now directly owns 18,542 shares of the company’s stock, valued at $2,069,472.62. This 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, CMO Amy Messano sold 416 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $111.30, for a total transaction of $46,300.80. Following the transaction, the chief marketing officer now directly owns 22,980 shares of the company’s stock, valued at $2,557,674. The trade was a 1.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 12,172 shares of company stock valued at $1,356,847. Company insiders own 21.75% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.