Schechter Investment Advisors LLC Has $465,000 Holdings in Altair Engineering Inc. (NASDAQ:ALTR)

Schechter Investment Advisors LLC cut its stake in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 14.7% in the 4th quarter, Holdings Channel reports. The institutional investor owned 4,261 shares of the software’s stock after selling 736 shares during the quarter. Schechter Investment Advisors LLC’s holdings in Altair Engineering were worth $465,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. State Street Corp increased its holdings in shares of Altair Engineering by 3.3% during the third quarter. State Street Corp now owns 2,053,957 shares of the software’s stock worth $196,173,000 after buying an additional 65,589 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Altair Engineering by 3.9% during the third quarter. Geode Capital Management LLC now owns 1,423,880 shares of the software’s stock worth $136,020,000 after buying an additional 53,088 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Altair Engineering by 9.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 505,470 shares of the software’s stock worth $48,277,000 after purchasing an additional 42,592 shares during the last quarter. Fisher Asset Management LLC grew its stake in shares of Altair Engineering by 27.0% in the third quarter. Fisher Asset Management LLC now owns 401,612 shares of the software’s stock worth $38,358,000 after purchasing an additional 85,303 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Altair Engineering by 31.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 392,343 shares of the software’s stock worth $37,473,000 after purchasing an additional 94,219 shares during the last quarter. 63.38% of the stock is currently owned by institutional investors and hedge funds.

Altair Engineering Trading Down 0.0 %

Shares of ALTR opened at $111.32 on Thursday. The stock has a market capitalization of $9.55 billion, a P/E ratio of 654.82, a price-to-earnings-growth ratio of 10.75 and a beta of 1.45. The firm’s fifty day simple moving average is $110.49 and its two-hundred day simple moving average is $102.79. Altair Engineering Inc. has a 12 month low of $75.71 and a 12 month high of $113.12.

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 the consensus estimate of $0.51 by ($0.15). Altair Engineering had a net margin of 2.13% and a return on equity of 8.08%. The company had revenue of $192.63 million for the quarter, compared to analyst estimates of $182.98 million. As a group, research analysts predict that Altair Engineering Inc. will post 0.87 EPS for the current fiscal year.

Insider Activity

In other news, CFO Matthew Charles Brown sold 1,048 shares of the company’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $108.90, for a total transaction of $114,127.20. Following the transaction, the chief financial officer now owns 55,519 shares in the company, valued at approximately $6,046,019.10. This represents a 1.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Amy Messano sold 235 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $111.53, for a total transaction of $26,209.55. Following the transaction, the chief marketing officer now owns 23,651 shares in the company, valued at $2,637,796.03. This represents a 0.98 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 32,855 shares of company stock worth $3,542,373. Company insiders own 21.75% of the company’s stock.

Wall Street Analyst Weigh In

ALTR has been the topic of several analyst reports. 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. Needham & Company LLC reissued a “hold” rating on shares of Altair Engineering in a research note on Friday, February 21st. One research analyst has rated the stock with a sell rating and seven have given a hold rating to the company’s stock. According to data from MarketBeat.com, the company 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.