Altair Engineering Inc. (NASDAQ:ALTR) Shares Purchased by Orion Portfolio Solutions LLC

Orion Portfolio Solutions LLC grew its stake in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 20.4% in the third quarter, Holdings Channel.com reports. The fund owned 3,782 shares of the software’s stock after buying an additional 642 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Altair Engineering were worth $361,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Blue Trust Inc. raised its position in shares of Altair Engineering by 572.1% during the third quarter. Blue Trust Inc. now owns 289 shares of the software’s stock worth $28,000 after purchasing an additional 246 shares during the period. GAMMA Investing LLC raised its holdings in Altair Engineering by 52.2% during the 3rd quarter. GAMMA Investing LLC now owns 636 shares of the software’s stock worth $61,000 after buying an additional 218 shares during the period. Van ECK Associates Corp lifted its stake in Altair Engineering by 41.7% during the second quarter. Van ECK Associates Corp now owns 1,057 shares of the software’s stock valued at $104,000 after buying an additional 311 shares in the last quarter. KBC Group NV boosted its holdings in shares of Altair Engineering by 17.9% in the third 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 period. Finally, Ballentine Partners LLC acquired a new stake in shares of Altair Engineering during the second quarter valued at approximately $202,000. 63.38% of the stock is owned by institutional investors.

Altair Engineering Trading Down 1.1 %

Shares of NASDAQ ALTR opened at $105.66 on Thursday. The stock has a market cap of $8.99 billion, a price-to-earnings ratio of 278.06, a PEG ratio of 12.16 and a beta of 1.44. The business has a 50 day simple moving average of $103.53 and a 200 day simple moving average of $95.98. The company has a debt-to-equity ratio of 0.27, a quick ratio of 3.27 and a current ratio of 3.27. Altair Engineering Inc. has a 52 week low of $73.33 and a 52 week high of $113.12.

Insiders Place Their Bets

In related news, major shareholder Christ Revocable Trust sold 50,048 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $95.07, for a total value of $4,758,063.36. Following the completion of the sale, the insider now directly owns 149,952 shares in the company, valued at approximately $14,255,936.64. The trade was a 25.02 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CRO Nelson Dias sold 22,500 shares of the company’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $106.23, for a total value 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 disclosure for this sale can be found here. Insiders sold 400,519 shares of company stock valued at $40,076,873 over the last ninety days. Corporate insiders own 21.75% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ALTR. Royal Bank of Canada raised their price objective on shares of Altair Engineering from $90.00 to $113.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 31st. Needham & Company LLC reiterated a “hold” rating and set a $100.00 price target on shares of Altair Engineering in a report on Thursday, October 31st. Loop Capital reissued a “hold” rating and issued a $113.00 price objective on shares of Altair Engineering in a research note on Thursday, October 31st. William Blair reaffirmed a “market perform” rating on shares of Altair Engineering in a research note on Thursday, October 31st. Finally, Wolfe Research downgraded Altair Engineering from a “strong-buy” rating to a “hold” rating in a report on Sunday, November 3rd. 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. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price 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.