Stephens Investment Management Group LLC Trims Stock Position in Altair Engineering Inc. (NASDAQ:ALTR)

Stephens Investment Management Group LLC decreased its holdings in Altair Engineering Inc. (NASDAQ:ALTR) by 79.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 76,735 shares of the software’s stock after selling 299,544 shares during the period. Stephens Investment Management Group LLC’s holdings in Altair Engineering were worth $8,373,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of ALTR. Blue Trust Inc. boosted its position in shares of Altair Engineering by 572.1% in the third quarter. Blue Trust Inc. now owns 289 shares of the software’s stock worth $28,000 after acquiring an additional 246 shares during the last quarter. UMB Bank n.a. raised its stake in Altair Engineering by 77.0% during the fourth quarter. UMB Bank n.a. now owns 285 shares of the software’s stock worth $31,000 after purchasing an additional 124 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Altair Engineering by 52.2% in the 3rd quarter. GAMMA Investing LLC now owns 636 shares of the software’s stock valued at $61,000 after purchasing an additional 218 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of Altair Engineering by 28.5% during the 3rd quarter. Van ECK Associates Corp now owns 1,358 shares of the software’s stock valued at $130,000 after buying an additional 301 shares during the period. Finally, KBC Group NV increased its holdings in shares of Altair Engineering by 17.9% during the 3rd quarter. KBC Group NV now owns 1,640 shares of the software’s stock worth $157,000 after buying an additional 249 shares during the last quarter. Institutional investors and hedge funds own 63.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Loop Capital reissued a “hold” rating and set a $113.00 price target on shares of Altair Engineering in a research report on Thursday, October 31st. Needham & Company LLC reiterated a “hold” rating and set a $100.00 target price on shares of Altair Engineering in a report on Thursday, October 31st. William Blair restated a “market perform” rating on shares of Altair Engineering in a report on Thursday, October 31st. Wolfe Research downgraded shares of Altair Engineering from a “strong-buy” rating to a “hold” rating in a research note on Sunday, November 3rd. Finally, Rosenblatt Securities raised their target price on shares of Altair Engineering from $88.00 to $113.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $100.71.

Altair Engineering Trading Up 0.0 %

NASDAQ ALTR opened at $110.47 on Monday. The company’s fifty day simple moving average is $108.92 and its 200-day simple moving average is $99.86. The stock has a market cap of $9.40 billion, a P/E ratio of 290.72, a PEG ratio of 10.62 and a beta of 1.42. Altair Engineering Inc. has a 52 week low of $75.71 and a 52 week high of $113.12. The company has a current ratio of 3.27, a quick ratio of 3.27 and a debt-to-equity ratio of 0.27.

Insiders Place Their Bets

In related news, CEO James Ralph Scapa sold 13,000 shares of the business’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $105.69, for a total value of $1,373,970.00. Following the transaction, the chief executive officer now owns 134,045 shares in the company, valued at approximately $14,167,216.05. The trade was a 8.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Matthew Charles Brown sold 1,048 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $108.90, for a total value of $114,127.20. Following the sale, the chief financial officer now owns 55,519 shares of the company’s stock, valued at approximately $6,046,019.10. This trade represents a 1.85 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 59,143 shares of company stock worth $6,265,694 in the last quarter. 21.75% of the stock is owned by corporate insiders.

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.