Blue Trust Inc. Purchases 536 Shares of Altair Engineering Inc. (NASDAQ:ALTR)

Blue Trust Inc. grew its position in Altair Engineering Inc. (NASDAQ:ALTR) by 185.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 825 shares of the software’s stock after acquiring an additional 536 shares during the period. Blue Trust Inc.’s holdings in Altair Engineering were worth $90,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. UMB Bank n.a. lifted its stake in Altair Engineering by 77.0% in the 4th quarter. UMB Bank n.a. now owns 285 shares of the software’s stock valued at $31,000 after purchasing an additional 124 shares during the last quarter. GAMMA Investing LLC raised its stake in Altair Engineering by 52.2% in the third quarter. GAMMA Investing LLC now owns 636 shares of the software’s stock valued at $61,000 after buying an additional 218 shares during the period. Van ECK Associates Corp raised its stake in Altair Engineering by 28.5% in the third 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. KBC Group NV lifted its position 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 valued at $157,000 after buying an additional 249 shares during the last quarter. Finally, Private Advisor Group LLC bought a new position in shares of Altair Engineering during the 3rd quarter worth approximately $208,000. 63.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on ALTR shares. Rosenblatt Securities increased their price target on Altair Engineering from $88.00 to $113.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Needham & Company LLC reissued a “hold” rating and issued a $100.00 price objective on shares of Altair Engineering in a research report on Thursday, October 31st. Loop Capital reaffirmed a “hold” rating and set a $113.00 target price on shares of Altair Engineering in a report on Thursday, October 31st. William Blair reissued a “market perform” rating on shares of Altair Engineering in a report on Thursday, October 31st. Finally, Wolfe Research cut 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 issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Altair Engineering presently has an average rating of “Hold” and a consensus target price of $100.71.

Altair Engineering Stock Performance

NASDAQ ALTR opened at $110.47 on Friday. The firm has a 50-day moving average price of $108.92 and a two-hundred day moving average price of $99.72. Altair Engineering Inc. has a 12-month low of $75.71 and a 12-month high of $113.12. The company has a market capitalization of $9.40 billion, a P/E ratio of 290.72, a P/E/G ratio of 10.61 and a beta of 1.42. The company has a quick ratio of 3.27, a current ratio of 3.27 and a debt-to-equity ratio of 0.27.

Insider Activity

In other Altair Engineering news, CRO Nelson Dias sold 22,500 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $106.23, for a total transaction of $2,390,175.00. Following the sale, the executive now directly owns 48,437 shares in the company, valued at $5,145,462.51. This represents a 31.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Ravi Kunju sold 360 shares of the business’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $103.65, for a total transaction of $37,314.00. Following the completion of the transaction, the insider now owns 30,305 shares of the company’s stock, valued at $3,141,113.25. The trade was a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 59,503 shares of company stock worth $6,303,008. Corporate insiders own 21.75% 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 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.