Altair Engineering Inc. (NASDAQ:ALTR) Stake Reduced by Stifel Financial Corp

Stifel Financial Corp cut its stake in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 2.8% during the third quarter, Holdings Channel reports. The firm owned 5,985 shares of the software’s stock after selling 171 shares during the quarter. Stifel Financial Corp’s holdings in Altair Engineering were worth $572,000 at the end of the most recent quarter.

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

Altair Engineering Stock Performance

Shares of ALTR opened at $109.10 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.27 and a quick ratio of 3.27. The company’s fifty day moving average price is $105.18 and its 200 day moving average price is $96.83. The company has a market capitalization of $9.28 billion, a PE ratio of 287.11, a price-to-earnings-growth ratio of 12.16 and a beta of 1.44. Altair Engineering Inc. has a one year low of $75.71 and a one year high of $113.12.

Analysts Set New Price Targets

ALTR has been the topic of several recent research reports. Loop Capital reaffirmed a “hold” rating and set a $113.00 price objective on shares of Altair Engineering in a research report on Thursday, October 31st. Rosenblatt Securities increased their price target on shares of Altair Engineering from $88.00 to $113.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Royal Bank of Canada lifted their price objective on shares of Altair Engineering from $90.00 to $113.00 and gave the company a “sector perform” rating in a research note on Thursday, October 31st. William Blair reissued a “market perform” rating 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 report on Sunday, November 3rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $100.71.

Insider Activity at Altair Engineering

In related news, CFO Matthew Charles Brown sold 1,048 shares of Altair Engineering stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $108.90, for a total transaction of $114,127.20. Following the sale, the chief financial officer now directly owns 55,519 shares of the company’s stock, valued at $6,046,019.10. This trade represents a 1.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James Ralph Scapa sold 13,000 shares of the company’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $95.10, for a total value of $1,236,300.00. Following the completion of the transaction, the chief executive officer now directly owns 134,045 shares of the company’s stock, valued at approximately $12,747,679.50. This trade represents a 8.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 351,519 shares of company stock worth $35,432,937 in the last 90 days. 21.75% of the stock is owned by company 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.