ARK Investment Management LLC Sells 5,183 Shares of Altair Engineering Inc. (NASDAQ:ALTR)

ARK Investment Management LLC lessened its stake in Altair Engineering Inc. (NASDAQ:ALTR) by 12.8% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 35,280 shares of the software’s stock after selling 5,183 shares during the period. ARK Investment Management LLC’s holdings in Altair Engineering were worth $3,849,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Conestoga Capital Advisors LLC lifted its position in Altair Engineering by 1.4% during the 3rd quarter. Conestoga Capital Advisors LLC now owns 2,522,551 shares of the software’s stock valued at $240,929,000 after purchasing an additional 33,985 shares during the period. State Street Corp lifted its holdings in Altair Engineering by 3.3% in the third quarter. State Street Corp now owns 2,053,957 shares of the software’s stock valued at $196,173,000 after buying an additional 65,589 shares during the period. Geode Capital Management LLC boosted its stake in Altair Engineering by 3.9% in the third quarter. Geode Capital Management LLC now owns 1,423,880 shares of the software’s stock valued at $136,020,000 after acquiring an additional 53,088 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Altair Engineering by 9.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 505,470 shares of the software’s stock worth $48,277,000 after acquiring an additional 42,592 shares during the period. Finally, Fisher Asset Management LLC raised its position in shares of Altair Engineering by 27.0% during the 3rd quarter. Fisher Asset Management LLC now owns 401,612 shares of the software’s stock valued at $38,358,000 after acquiring an additional 85,303 shares during the last quarter. Institutional investors and hedge funds own 63.38% of the company’s stock.

Insiders Place Their Bets

In other Altair Engineering news, CRO Nelson Dias sold 22,500 shares of the business’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $106.23, for a total transaction of $2,390,175.00. Following the sale, the executive now directly owns 48,437 shares of the company’s stock, valued at $5,145,462.51. The trade was a 31.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Matthew Charles Brown sold 1,048 shares of the stock in a transaction dated Monday, December 23rd. The stock was 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 of the company’s stock, valued at approximately $6,046,019.10. This represents a 1.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 59,143 shares of company stock worth $6,265,694. Corporate insiders own 21.75% of the company’s stock.

Altair Engineering Stock Performance

NASDAQ ALTR opened at $111.60 on Thursday. The stock has a market cap of $9.49 billion, a price-to-earnings ratio of 656.47, a PEG ratio of 10.75 and a beta of 1.42. The business has a 50 day simple moving average of $110.21 and a 200 day simple moving average of $102.03. Altair Engineering Inc. has a 52-week low of $75.71 and a 52-week high of $113.12.

Altair Engineering (NASDAQ:ALTR) last issued 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). The company had revenue of $192.63 million for the quarter, compared to the consensus estimate of $182.98 million. Altair Engineering had a return on equity of 8.08% and a net margin of 2.13%. On average, analysts predict that Altair Engineering Inc. will post 0.87 EPS for the current year.

Wall Street Analysts Forecast Growth

ALTR has been the topic of several recent research reports. Royal Bank of Canada raised their price target on Altair Engineering from $90.00 to $113.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 31st. Wolfe Research cut Altair Engineering from a “strong-buy” rating to a “hold” rating in a report on Sunday, November 3rd. William Blair reaffirmed a “market perform” rating on shares of Altair Engineering in a research note on Thursday, October 31st. Loop Capital reissued a “hold” rating and set a $113.00 price objective on shares of Altair Engineering in a research note on Thursday, October 31st. Finally, Rosenblatt Securities restated a “neutral” rating and set a $113.00 price objective on shares of Altair Engineering in a report on Monday. One research analyst has rated the stock with a sell rating and seven have assigned a hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average 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.