Swiss National Bank Has $10.62 Million Stock Holdings in Altair Engineering Inc. (NASDAQ:ALTR)

Swiss National Bank lowered its stake in Altair Engineering Inc. (NASDAQ:ALTR) by 0.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 111,200 shares of the software’s stock after selling 800 shares during the quarter. Swiss National Bank owned about 0.13% of Altair Engineering worth $10,621,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. New York State Teachers Retirement System lifted its stake in Altair Engineering by 1.2% in the third quarter. New York State Teachers Retirement System now owns 8,500 shares of the software’s stock valued at $812,000 after buying an additional 100 shares during the period. ProShare Advisors LLC raised its position in shares of Altair Engineering by 1.6% in the 2nd quarter. ProShare Advisors LLC now owns 10,219 shares of the software’s stock valued at $1,002,000 after acquiring an additional 160 shares during the period. Ballentine Partners LLC boosted its stake in Altair Engineering by 8.5% during the 3rd quarter. Ballentine Partners LLC now owns 2,236 shares of the software’s stock worth $214,000 after acquiring an additional 175 shares during the last quarter. GAMMA Investing LLC grew its holdings in Altair Engineering by 81.7% during the second quarter. GAMMA Investing LLC now owns 418 shares of the software’s stock valued at $41,000 after purchasing an additional 188 shares during the period. Finally, Thrivent Financial for Lutherans increased its stake in Altair Engineering by 1.5% in the third quarter. Thrivent Financial for Lutherans now owns 13,961 shares of the software’s stock valued at $1,333,000 after purchasing an additional 201 shares in the last quarter. 63.38% of the stock is currently owned by institutional investors.

Insider Activity at Altair Engineering

In other Altair Engineering news, major shareholder Jrs Investments Llc sold 6,500 shares of the company’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $89.04, for a total transaction of $578,760.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder Christ Revocable Trust sold 100,000 shares of Altair Engineering stock in a transaction dated Wednesday, October 23rd. The shares were sold at an average price of $106.57, for a total transaction of $10,657,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 362,544 shares of company stock valued at $35,717,201. Corporate insiders own 21.75% of the company’s stock.

Altair Engineering Price Performance

Shares of ALTR opened at $105.20 on Monday. The company has a quick ratio of 3.27, a current ratio of 3.27 and a debt-to-equity ratio of 0.27. Altair Engineering Inc. has a twelve month low of $68.87 and a twelve month high of $113.12. The stock has a market capitalization of $8.95 billion, a P/E ratio of 276.85, a P/E/G ratio of 11.99 and a beta of 1.44. The company has a 50 day moving average of $99.20 and a 200-day moving average of $93.94.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ALTR. Royal Bank of Canada lifted their price target on shares of Altair Engineering from $90.00 to $113.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 31st. The Goldman Sachs Group downgraded Altair Engineering from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $85.00 to $71.00 in a report on Friday, August 2nd. Needham & Company LLC reiterated a “hold” rating and set a $100.00 price objective on shares of Altair Engineering in a report on Thursday, October 31st. Loop Capital reissued a “hold” rating and set a $113.00 target price on shares of Altair Engineering in a research note on Thursday, October 31st. Finally, Wolfe Research lowered shares of Altair Engineering from a “strong-buy” rating to a “hold” rating in a research note on Sunday, November 3rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat, Altair Engineering currently has a consensus rating of “Hold” and an average price target of $100.71.

About Altair Engineering

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.