EdgeRock Capital LLC Buys Shares of 382 Altair Engineering Inc. (NASDAQ:ALTR)

EdgeRock Capital LLC acquired a new stake in Altair Engineering Inc. (NASDAQ:ALTR) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 382 shares of the software’s stock, valued at approximately $33,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. McGlone Suttner Wealth Management Inc. acquired a new position in shares of Altair Engineering in the 4th quarter valued at $31,000. Harvest Fund Management Co. Ltd lifted its stake in Altair Engineering by 1,157.7% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 981 shares of the software’s stock valued at $83,000 after buying an additional 903 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in Altair Engineering by 10.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,991 shares of the software’s stock worth $125,000 after buying an additional 190 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of Altair Engineering by 31.3% in the 3rd quarter. SG Americas Securities LLC now owns 2,171 shares of the software’s stock valued at $136,000 after acquiring an additional 518 shares during the last quarter. Finally, Legato Capital Management LLC bought a new stake in shares of Altair Engineering in the 4th quarter valued at about $217,000. 63.38% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO James Ralph Scapa sold 10,000 shares of the firm’s stock in a transaction dated Monday, March 18th. The stock was sold at an average price of $80.74, for a total value of $807,400.00. Following the completion of the transaction, the chief executive officer now owns 139,605 shares in the company, valued at approximately $11,271,707.70. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Altair Engineering news, major shareholder Jrs Investments Llc sold 5,000 shares of the company’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $80.74, for a total transaction of $403,700.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO James Ralph Scapa sold 10,000 shares of Altair Engineering stock in a transaction dated Monday, March 18th. The shares were sold at an average price of $80.74, for a total transaction of $807,400.00. Following the completion of the transaction, the chief executive officer now directly owns 139,605 shares of the company’s stock, valued at approximately $11,271,707.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 162,450 shares of company stock worth $13,927,712. 21.75% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on ALTR shares. Rosenblatt Securities restated a “neutral” rating and set a $88.00 price objective on shares of Altair Engineering in a report on Monday, April 29th. Oppenheimer raised their price objective on Altair Engineering from $95.00 to $100.00 and gave the stock an “outperform” rating in a research note on Friday, February 23rd. Royal Bank of Canada reissued a “sector perform” rating and issued a $90.00 target price on shares of Altair Engineering in a research note on Thursday, March 21st. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price target on shares of Altair Engineering in a research report on Friday, May 3rd. Finally, JPMorgan Chase & Co. boosted their price objective on Altair Engineering from $86.00 to $95.00 and gave the company 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.60.

Altair Engineering Stock Down 1.0 %

Shares of ALTR traded down $0.89 during midday trading on Wednesday, hitting $85.20. The stock had a trading volume of 703,172 shares, compared to its average volume of 416,168. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.46 and a quick ratio of 2.46. The firm has a market cap of $7.03 billion, a price-to-earnings ratio of 946.67, a price-to-earnings-growth ratio of 10.86 and a beta of 1.42. The company has a 50 day simple moving average of $83.20 and a two-hundred day simple moving average of $79.80. Altair Engineering Inc. has a twelve month low of $57.59 and a twelve month high of $92.92.

Altair Engineering (NASDAQ:ALTR) last announced its 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 return on equity of 5.60% and a net margin of 1.55%. The business had revenue of $172.91 million for the quarter, compared to analyst estimates of $169.29 million. During the same quarter last year, the firm earned $0.13 EPS. Altair Engineering’s revenue for the quarter was up 4.1% compared to the same quarter last year. On average, analysts anticipate that Altair Engineering Inc. will post 0.63 EPS for the current year.

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.