Axa S.A. Has $63.93 Million Stock Position in Altair Engineering Inc. (NASDAQ:ALTR)

Axa S.A. grew its position in Altair Engineering Inc. (NASDAQ:ALTR) by 20.3% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 886,533 shares of the software’s stock after buying an additional 149,323 shares during the period. Axa S.A. owned 1.11% of Altair Engineering worth $63,928,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in ALTR. MetLife Investment Management LLC increased its stake in shares of Altair Engineering by 54.5% in the 1st quarter. MetLife Investment Management LLC now owns 24,032 shares of the software’s stock valued at $1,548,000 after buying an additional 8,474 shares during the period. Rhumbline Advisers boosted its position in shares of Altair Engineering by 1.5% in the 1st quarter. Rhumbline Advisers now owns 47,705 shares of the software’s stock worth $3,072,000 after purchasing an additional 704 shares during the last quarter. BlackRock Inc. boosted its position in shares of Altair Engineering by 7.5% in the 1st quarter. BlackRock Inc. now owns 4,879,144 shares of the software’s stock worth $314,217,000 after purchasing an additional 339,610 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Altair Engineering by 3.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 353,243 shares of the software’s stock worth $22,750,000 after purchasing an additional 10,216 shares during the last quarter. Finally, Vanguard Group Inc. boosted its position in shares of Altair Engineering by 0.4% in the 1st quarter. Vanguard Group Inc. now owns 4,645,906 shares of the software’s stock worth $299,196,000 after purchasing an additional 18,157 shares during the last quarter. 63.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ALTR shares. Needham & Company LLC restated a “buy” rating and issued a $77.00 price target on shares of Altair Engineering in a research report on Friday, August 4th. Rosenblatt Securities restated a “buy” rating and issued a $74.00 price target on shares of Altair Engineering in a research report on Tuesday, August 29th. Finally, Royal Bank of Canada raised their price target on Altair Engineering from $71.00 to $74.00 and gave the stock a “sector perform” rating in a research report on Friday, August 4th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $73.00.

Altair Engineering Stock Performance

Shares of Altair Engineering stock opened at $65.50 on Friday. The firm has a market cap of $5.32 billion, a price-to-earnings ratio of -112.93, a price-to-earnings-growth ratio of 20.23 and a beta of 1.46. The stock’s 50-day moving average is $68.57 and its 200-day moving average is $69.53. Altair Engineering Inc. has a one year low of $43.17 and a one year high of $78.49. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.84 and a quick ratio of 1.84.

Altair Engineering (NASDAQ:ALTR) last issued its quarterly earnings results on Thursday, August 3rd. The software reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.08). The firm had revenue of $141.16 million during the quarter, compared to the consensus estimate of $138.83 million. Altair Engineering had a negative net margin of 7.74% and a negative return on equity of 0.26%. Equities analysts predict that Altair Engineering Inc. will post 0.27 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder George J. Christ sold 100,000 shares of the business’s stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $74.42, for a total value of $7,442,000.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, major shareholder George J. Christ sold 100,000 shares of Altair Engineering stock in a transaction dated Wednesday, July 19th. The stock was sold at an average price of $74.42, for a total value of $7,442,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Jrs Investments Llc sold 5,000 shares of Altair Engineering stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $62.47, for a total value of $312,350.00. The disclosure for this sale can be found here. Insiders have sold a total of 147,651 shares of company stock worth $10,830,789 over the last three months. Corporate insiders own 22.17% of the company’s stock.

Altair Engineering Company Profile

Altair Engineering Inc, together with its subsidiaries, provides software and cloud solutions in the areas of simulation, high-performance computing, data analytics, and artificial intelligence in the United States and internationally. The company operates in two segments: Software and Client Engineering Services.