Massachusetts Financial Services Co. MA Purchases 94,219 Shares of Altair Engineering Inc. (NASDAQ:ALTR)

Massachusetts Financial Services Co. MA raised its holdings in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 31.6% during the third quarter, Holdings Channel.com reports. The fund owned 392,343 shares of the software’s stock after buying an additional 94,219 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Altair Engineering were worth $37,473,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in ALTR. New York State Teachers Retirement System lifted its holdings 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 worth $812,000 after purchasing an additional 100 shares in the last quarter. ProShare Advisors LLC lifted its holdings in shares of Altair Engineering by 1.6% in the second quarter. ProShare Advisors LLC now owns 10,219 shares of the software’s stock worth $1,002,000 after buying an additional 160 shares in the last quarter. Ballentine Partners LLC lifted its holdings in shares of Altair Engineering by 8.5% in the third quarter. Ballentine Partners LLC now owns 2,236 shares of the software’s stock worth $214,000 after buying an additional 175 shares in the last quarter. GAMMA Investing LLC grew its stake in Altair Engineering by 81.7% during the second quarter. GAMMA Investing LLC now owns 418 shares of the software’s stock valued at $41,000 after acquiring an additional 188 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its holdings in Altair Engineering by 1.5% in the 3rd quarter. Thrivent Financial for Lutherans now owns 13,961 shares of the software’s stock valued at $1,333,000 after acquiring an additional 201 shares during the last quarter. 63.38% of the stock is currently owned by hedge funds and other institutional investors.

Altair Engineering Trading Up 0.8 %

Shares of ALTR opened at $105.20 on Monday. The company’s fifty day simple moving average is $99.20 and its 200-day simple moving average is $93.94. The company has a market cap of $8.95 billion, a P/E ratio of 276.85, a P/E/G ratio of 11.99 and a beta of 1.44. The company has a current ratio of 3.27, a quick ratio of 3.27 and a debt-to-equity ratio of 0.27. Altair Engineering Inc. has a twelve month low of $68.87 and a twelve month high of $113.12.

Analyst Ratings Changes

Several research analysts have commented on the stock. Needham & Company LLC reissued a “hold” rating and set a $100.00 price objective on shares of Altair Engineering 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. The Goldman Sachs Group cut Altair Engineering from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $85.00 to $71.00 in a report on Friday, August 2nd. Wolfe Research lowered shares of Altair Engineering from a “strong-buy” rating to a “hold” rating in a report on Sunday, November 3rd. Finally, Rosenblatt Securities upped their price target on shares of Altair Engineering from $88.00 to $113.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $100.71.

Insider Buying and Selling

In other news, 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 transaction of $10,657,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Jrs Investments Llc sold 6,500 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $89.04, for a total transaction of $578,760.00. The disclosure for this sale can be found here. Insiders have sold 362,544 shares of company stock valued at $35,717,201 in the last ninety days. 21.75% of the stock is owned by company insiders.

About Altair Engineering

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.