Bradley Foster & Sargent Inc. CT Sells 227 Shares of Altair Engineering Inc. (NASDAQ:ALTR)

Bradley Foster & Sargent Inc. CT reduced its holdings in Altair Engineering Inc. (NASDAQ:ALTR) by 1.5% during the second quarter, Holdings Channel.com reports. The institutional investor owned 14,630 shares of the software’s stock after selling 227 shares during the quarter. Bradley Foster & Sargent Inc. CT’s holdings in Altair Engineering were worth $1,435,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Wellington Management Group LLP grew its position in shares of Altair Engineering by 97.3% in the 4th quarter. Wellington Management Group LLP now owns 1,182,339 shares of the software’s stock worth $99,494,000 after buying an additional 583,127 shares during the last quarter. Russell Investments Group Ltd. boosted its position in shares of Altair Engineering by 5,564.8% during the first quarter. Russell Investments Group Ltd. now owns 31,043 shares of the software’s stock valued at $2,676,000 after purchasing an additional 30,495 shares in the last quarter. Matrix Capital Management Company LP boosted its position in shares of Altair Engineering by 8.3% during the fourth quarter. Matrix Capital Management Company LP now owns 12,233,174 shares of the software’s stock valued at $1,029,422,000 after purchasing an additional 932,717 shares in the last quarter. Bain Capital Public Equity LP bought a new stake in shares of Altair Engineering during the fourth quarter valued at approximately $6,376,000. Finally, Linden Thomas Advisory Services LLC bought a new stake in shares of Altair Engineering during the second quarter valued at approximately $629,000. 63.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on ALTR shares. Needham & Company LLC restated a “buy” rating and set a $100.00 price target on shares of Altair Engineering in a research report on Friday, August 2nd. JPMorgan Chase & Co. lowered Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 price target on the stock. in a research report on Monday, July 15th. Finally, The Goldman Sachs Group lowered Altair Engineering from a “neutral” rating to a “sell” rating and dropped their price target for the company from $85.00 to $71.00 in a research report on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Altair Engineering has an average rating of “Hold” and a consensus price target of $90.67.

Altair Engineering Trading Up 1.0 %

Altair Engineering stock opened at $92.86 on Thursday. The company has a current ratio of 3.14, a quick ratio of 3.14 and a debt-to-equity ratio of 0.29. The business’s fifty day simple moving average is $89.31 and its two-hundred day simple moving average is $88.38. Altair Engineering Inc. has a 12 month low of $57.59 and a 12 month high of $101.39. The company has a market capitalization of $7.71 billion, a price-to-earnings ratio of 1,041.89, a price-to-earnings-growth ratio of 10.94 and a beta of 1.45.

Altair Engineering (NASDAQ:ALTR) last posted its quarterly earnings results on Thursday, August 1st. The software reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.01. Altair Engineering had a return on equity of 6.89% and a net margin of 4.26%. The firm had revenue of $148.80 million during the quarter, compared to analysts’ expectations of $146.88 million. During the same quarter in the previous year, the business earned ($0.15) earnings per share. The company’s revenue was up 5.4% on a year-over-year basis. As a group, equities analysts predict that Altair Engineering Inc. will post 0.65 earnings per share for the current fiscal year.

Insider Transactions at Altair Engineering

In other news, Director Teresa A. Harris sold 620 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $89.70, for a total value of $55,614.00. Following the completion of the transaction, the director now owns 21,242 shares in the company, valued at $1,905,407.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Teresa A. Harris sold 620 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $89.70, for a total transaction of $55,614.00. Following the completion of the sale, the director now owns 21,242 shares in the company, valued at $1,905,407.40. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Jrs Investments Llc sold 6,500 shares of the company’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $88.11, for a total value of $572,715.00. The disclosure for this sale can be found here. Insiders sold 153,860 shares of company stock worth $14,739,205 over the last quarter. 21.75% of the stock is currently owned by insiders.

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.