Primecap Management Co. CA Sells 84,130 Shares of Altair Engineering Inc. (NASDAQ:ALTR)

Primecap Management Co. CA lessened its stake in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 26.1% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 238,363 shares of the software’s stock after selling 84,130 shares during the period. Primecap Management Co. CA owned about 0.28% of Altair Engineering worth $26,008,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. NBT Bank N A NY raised its stake in Altair Engineering by 76.4% in the fourth quarter. NBT Bank N A NY now owns 247 shares of the software’s stock worth $27,000 after buying an additional 107 shares in the last quarter. UMB Bank n.a. raised its stake in Altair Engineering by 77.0% in the fourth quarter. UMB Bank n.a. now owns 285 shares of the software’s stock worth $31,000 after buying an additional 124 shares in the last quarter. GAMMA Investing LLC raised its stake in Altair Engineering by 14.6% in the fourth quarter. GAMMA Investing LLC now owns 729 shares of the software’s stock worth $80,000 after buying an additional 93 shares in the last quarter. Blue Trust Inc. raised its stake in Altair Engineering by 185.5% in the fourth quarter. Blue Trust Inc. now owns 825 shares of the software’s stock worth $90,000 after buying an additional 536 shares in the last quarter. Finally, KBC Group NV raised its stake in Altair Engineering by 17.9% in the third quarter. KBC Group NV now owns 1,640 shares of the software’s stock worth $157,000 after buying an additional 249 shares in the last quarter. Institutional investors own 63.38% of the company’s stock.

Insider Activity

In other Altair Engineering news, CMO Amy Messano sold 235 shares of the company’s stock in a transaction on Wednesday, February 26th. The shares were sold at an average price of $111.53, for a total value of $26,209.55. Following the sale, the chief marketing officer now directly owns 23,651 shares of the company’s stock, valued at approximately $2,637,796.03. This represents a 0.98 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Matthew Charles Brown sold 3,811 shares of the company’s 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 in the company, valued at approximately $7,739,512.82. The trade was a 5.21 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,220 shares of company stock valued at $1,470,974 over the last ninety days. 21.75% of the stock is currently owned by insiders.

Altair Engineering Trading Up 0.2 %

NASDAQ ALTR opened at $111.67 on Thursday. The firm’s fifty day simple moving average is $110.86 and its two-hundred day simple moving average is $104.30. Altair Engineering Inc. has a 12-month low of $75.71 and a 12-month high of $113.12. The firm has a market capitalization of $9.58 billion, a P/E ratio of 656.88, 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 for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.15). The company had revenue of $192.63 million for the quarter, compared to analysts’ expectations of $182.98 million. Altair Engineering had a net margin of 2.13% and a return on equity of 8.08%. As a group, sell-side analysts predict that Altair Engineering Inc. will post 0.87 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ALTR. Needham & Company LLC reissued a “hold” rating on shares of Altair Engineering in a research note on Friday, February 21st. Rosenblatt Securities reissued a “neutral” rating and issued a $113.00 price objective on shares of Altair Engineering in a research note on Monday, February 24th. One equities research analyst has rated the stock with a sell rating and seven have issued a hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target 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.