Altair Engineering Inc. (NASDAQ:ALTR) Shares Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. lessened its holdings in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 9.8% in the fourth quarter, Holdings Channel.com reports. The firm owned 11,358 shares of the software’s stock after selling 1,230 shares during the period. Vontobel Holding Ltd.’s holdings in Altair Engineering were worth $1,239,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of ALTR. GAMMA Investing LLC lifted its holdings in shares of Altair Engineering by 14.6% in the 4th quarter. GAMMA Investing LLC now owns 729 shares of the software’s stock worth $80,000 after purchasing an additional 93 shares during the last quarter. New York State Teachers Retirement System increased its position in Altair Engineering by 1.2% in the 3rd quarter. New York State Teachers Retirement System now owns 8,500 shares of the software’s stock valued at $812,000 after acquiring an additional 100 shares during the period. Louisiana State Employees Retirement System increased its position in Altair Engineering by 0.6% in the 4th quarter. Louisiana State Employees Retirement System now owns 16,600 shares of the software’s stock valued at $1,811,000 after acquiring an additional 100 shares during the period. UMB Bank n.a. increased its position 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 acquiring an additional 124 shares during the period. Finally, Ballentine Partners LLC increased its position in Altair Engineering by 8.5% in the 3rd quarter. Ballentine Partners LLC now owns 2,236 shares of the software’s stock valued at $214,000 after acquiring an additional 175 shares during the period. Institutional investors and hedge funds own 63.38% of the company’s stock.

Wall Street Analysts Forecast Growth

ALTR has been the topic of several research analyst reports. Rosenblatt Securities lifted their price target on Altair Engineering from $88.00 to $113.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Royal Bank of Canada lifted their target price on Altair Engineering from $90.00 to $113.00 and gave the stock a “sector perform” rating 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 cut Altair Engineering from a “strong-buy” rating to a “hold” rating in a research report on Sunday, November 3rd. Finally, Loop Capital reaffirmed a “hold” rating and issued a $113.00 target price on shares of Altair Engineering in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat.com, Altair Engineering has an average rating of “Hold” and a consensus price target of $100.71.

Altair Engineering Trading Up 0.1 %

Altair Engineering stock opened at $110.85 on Tuesday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 3.27 and a current ratio of 3.27. The business’s 50-day simple moving average is $109.47 and its 200-day simple moving average is $100.85. The firm has a market capitalization of $9.43 billion, a PE ratio of 291.72, 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.

Insider Transactions at Altair Engineering

In related news, major shareholder Jrs Investments Llc sold 6,500 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 transaction of $686,985.00. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Matthew Charles Brown sold 1,048 shares of Altair Engineering 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 directly owns 55,519 shares in the company, valued at $6,046,019.10. The trade was a 1.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 59,143 shares of company stock worth $6,265,694. Company 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.