Zions Bancorporation N.A. Has $1.39 Million Holdings in Altair Engineering Inc. (NASDAQ:ALTR)

Zions Bancorporation N.A. lowered its stake in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 43.4% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 12,733 shares of the software’s stock after selling 9,760 shares during the period. Zions Bancorporation N.A.’s holdings in Altair Engineering were worth $1,389,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. GAMMA Investing LLC lifted its holdings in shares of Altair Engineering by 14.6% in the fourth quarter. GAMMA Investing LLC now owns 729 shares of the software’s stock valued at $80,000 after purchasing an additional 93 shares in the last quarter. Louisiana State Employees Retirement System raised its position in Altair Engineering by 0.6% in the 4th quarter. Louisiana State Employees Retirement System now owns 16,600 shares of the software’s stock valued at $1,811,000 after buying an additional 100 shares during the last quarter. New York State Teachers Retirement System lifted its stake in Altair Engineering by 1.2% during the 4th quarter. New York State Teachers Retirement System now owns 8,600 shares of the software’s stock valued at $938,000 after acquiring an additional 100 shares in the last quarter. State of Michigan Retirement System boosted its holdings in Altair Engineering by 0.7% during the 4th quarter. State of Michigan Retirement System now owns 14,200 shares of the software’s stock worth $1,549,000 after acquiring an additional 100 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its stake in shares of Altair Engineering by 0.7% in the 4th quarter. Thrivent Financial for Lutherans now owns 14,065 shares of the software’s stock worth $1,535,000 after acquiring an additional 104 shares in the last quarter. 63.38% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CFO Matthew Charles Brown sold 3,811 shares of Altair Engineering stock in a transaction on Wednesday, February 26th. The stock was 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 owns 69,394 shares of the company’s stock, valued at approximately $7,739,512.82. This trade represents a 5.21 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CMO Amy Messano sold 235 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $111.53, for a total value of $26,209.55. Following the transaction, the chief marketing officer now owns 23,651 shares of the company’s stock, valued at approximately $2,637,796.03. The trade was a 0.98 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,172 shares of company stock valued at $1,356,847. 21.75% of the stock is owned by insiders.

Altair Engineering Stock Performance

ALTR opened at $111.85 on Wednesday. Altair Engineering Inc. has a fifty-two week low of $75.71 and a fifty-two week high of $113.12. The firm has a 50-day moving average of $110.97 and a 200 day moving average of $105.12. The firm has a market cap of $9.60 billion, a P/E ratio of 657.94, a PEG ratio of 10.75 and a beta of 1.45.

Altair Engineering (NASDAQ:ALTR) last issued its quarterly 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). Altair Engineering had a return on equity of 8.08% and a net margin of 2.13%. The company had revenue of $192.63 million for the quarter, compared to analysts’ expectations of $182.98 million. Equities research analysts predict that Altair Engineering Inc. will post 0.87 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ALTR has been the topic of a number of recent analyst reports. Rosenblatt Securities reissued a “neutral” rating and set a $113.00 price target on shares of Altair Engineering in a research report on Monday, February 24th. Needham & Company LLC reiterated a “hold” rating on shares of Altair Engineering in a research note on Friday, February 21st. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company’s stock. According to data from MarketBeat.com, Altair Engineering presently has an average rating of “Hold” and a consensus target price of $100.83.

Altair Engineering 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.