Van ECK Associates Corp Has $130,000 Holdings in Altair Engineering Inc. (NASDAQ:ALTR)

Van ECK Associates Corp lifted its position in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 28.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,358 shares of the software’s stock after purchasing an additional 301 shares during the quarter. Van ECK Associates Corp’s holdings in Altair Engineering were worth $130,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. New York State Teachers Retirement System grew its holdings in shares of Altair Engineering by 1.2% during the 3rd quarter. New York State Teachers Retirement System now owns 8,500 shares of the software’s stock worth $812,000 after purchasing an additional 100 shares in the last quarter. ProShare Advisors LLC lifted its position in shares of Altair Engineering by 1.6% during the 2nd quarter. ProShare Advisors LLC now owns 10,219 shares of the software’s stock worth $1,002,000 after buying an additional 160 shares during the period. Ballentine Partners LLC lifted its position in shares of 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 buying an additional 175 shares during the period. GAMMA Investing LLC lifted its position in shares of Altair Engineering by 81.7% during the 2nd quarter. GAMMA Investing LLC now owns 418 shares of the software’s stock worth $41,000 after buying an additional 188 shares during the period. Finally, FSC Wealth Advisors LLC lifted its position in shares of Altair Engineering by 41.3% during the 2nd quarter. FSC Wealth Advisors LLC now owns 832 shares of the software’s stock worth $82,000 after buying an additional 243 shares during the period. Institutional investors and hedge funds own 63.38% of the company’s stock.

Altair Engineering Trading Down 0.2 %

ALTR stock opened at $103.82 on Thursday. The company has a market cap of $8.83 billion, a P/E ratio of 273.21, a PEG ratio of 11.95 and a beta of 1.44. Altair Engineering Inc. has a twelve month low of $68.87 and a twelve month high of $113.12. The company has a quick ratio of 3.27, a current ratio of 3.27 and a debt-to-equity ratio of 0.27. The business has a fifty day moving average of $96.67 and a 200-day moving average of $92.81.

Insider Transactions at Altair Engineering

In other news, insider Ravi Kunju sold 360 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $103.65, for a total transaction of $37,314.00. Following the completion of the sale, the insider now owns 30,305 shares in the company, valued at $3,141,113.25. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, major shareholder Christ Revocable Trust sold 100,000 shares of the business’s stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $106.57, for a total transaction of $10,657,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ravi Kunju sold 360 shares of Altair Engineering stock in a transaction on Monday, November 11th. The stock was sold at an average price of $103.65, for a total value of $37,314.00. Following the sale, the insider now directly owns 30,305 shares of the company’s stock, valued at approximately $3,141,113.25. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 362,544 shares of company stock worth $35,717,201 over the last 90 days. 21.75% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on ALTR. Wolfe Research downgraded Altair Engineering from a “strong-buy” rating to a “hold” rating in a research report on Sunday, November 3rd. Rosenblatt Securities raised their target price on Altair Engineering from $88.00 to $113.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Loop Capital restated a “hold” rating and set a $113.00 target price on shares of Altair Engineering in a research report on Thursday, October 31st. Needham & Company LLC reiterated a “hold” rating and issued a $100.00 price objective on shares of Altair Engineering in a research report on Thursday, October 31st. Finally, Royal Bank of Canada lifted their price objective on Altair Engineering from $90.00 to $113.00 and gave the company a “sector perform” rating in a research report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $100.71.

Altair Engineering Company 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.