Swiss National Bank Has $10.62 Million Stake in Altair Engineering Inc. (NASDAQ:ALTR)

Swiss National Bank lowered its holdings in Altair Engineering Inc. (NASDAQ:ALTR) by 0.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 111,200 shares of the software’s stock after selling 800 shares during the period. Swiss National Bank’s holdings in Altair Engineering were worth $10,621,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in ALTR. Conestoga Capital Advisors LLC raised its stake in Altair Engineering by 1.4% in the third quarter. Conestoga Capital Advisors LLC now owns 2,522,551 shares of the software’s stock valued at $240,929,000 after purchasing an additional 33,985 shares in the last quarter. William Blair Investment Management LLC bought a new stake in shares of Altair Engineering during the 2nd quarter valued at approximately $91,589,000. Bank of New York Mellon Corp lifted its stake in Altair Engineering by 121.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 569,109 shares of the software’s stock valued at $55,818,000 after purchasing an additional 312,448 shares during the last quarter. Candriam S.C.A. boosted its position in Altair Engineering by 28.9% in the second quarter. Candriam S.C.A. now owns 560,565 shares of the software’s stock valued at $54,978,000 after buying an additional 125,816 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Altair Engineering by 7.8% during the second quarter. Dimensional Fund Advisors LP now owns 513,695 shares of the software’s stock worth $50,384,000 after buying an additional 37,114 shares during the last quarter. Institutional investors and hedge funds own 63.38% of the company’s stock.

Insider Activity

In other news, CEO James Ralph Scapa sold 13,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $89.04, for a total value of $1,157,520.00. Following the completion of the transaction, the chief executive officer now directly owns 134,045 shares of the company’s stock, valued at $11,935,366.80. This represents a 8.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder Christ Revocable Trust sold 100,000 shares of Altair Engineering stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $106.57, for a total value of $10,657,000.00. 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 quarter. 21.75% of the stock is currently owned by corporate insiders.

Altair Engineering Stock Performance

Shares of ALTR opened at $105.20 on Monday. The stock has a 50-day moving average of $99.20 and a 200-day moving average of $93.94. The company has a market cap of $8.95 billion, a PE ratio of 276.85, a P/E/G ratio of 11.99 and a beta of 1.44. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.27 and a quick ratio of 3.27. Altair Engineering Inc. has a one year low of $68.87 and a one year high of $113.12.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ALTR. William Blair reissued a “market perform” rating on shares of Altair Engineering in a report on Thursday, October 31st. Needham & Company LLC reissued a “hold” rating and set a $100.00 price target on shares of Altair Engineering in a research note on Thursday, October 31st. Rosenblatt Securities upped their price objective on Altair Engineering from $88.00 to $113.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Loop Capital reiterated a “hold” rating and set a $113.00 target price on shares of Altair Engineering in a research report on Thursday, October 31st. Finally, Wolfe Research cut Altair Engineering from a “strong-buy” rating to a “hold” rating in a research note on Sunday, November 3rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $100.71.

Altair Engineering 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.