Ballentine Partners LLC Increases Stock Holdings in Altair Engineering Inc. (NASDAQ:ALTR)

Ballentine Partners LLC boosted its position in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 8.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,236 shares of the software’s stock after acquiring an additional 175 shares during the quarter. Ballentine Partners LLC’s holdings in Altair Engineering were worth $214,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ALTR. Blue Trust Inc. raised its position in shares of Altair Engineering by 572.1% during the 3rd quarter. Blue Trust Inc. now owns 289 shares of the software’s stock worth $28,000 after acquiring an additional 246 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of Altair Engineering by 81.7% in the 2nd quarter. GAMMA Investing LLC now owns 418 shares of the software’s stock valued at $41,000 after purchasing an additional 188 shares during the last quarter. FSC Wealth Advisors LLC grew its stake in shares of Altair Engineering by 41.3% in the 2nd quarter. FSC Wealth Advisors LLC now owns 832 shares of the software’s stock valued at $82,000 after purchasing an additional 243 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of Altair Engineering by 41.7% in the 2nd quarter. Van ECK Associates Corp now owns 1,057 shares of the software’s stock valued at $104,000 after purchasing an additional 311 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in shares of Altair Engineering in the first quarter valued at approximately $177,000. 63.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Altair Engineering

In related news, major shareholder Christ Revocable Trust sold 100,000 shares of the business’s stock in a transaction that occurred 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Altair Engineering news, major shareholder George J. Christ sold 49,952 shares of Altair Engineering stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $95.72, for a total value of $4,781,405.44. Following the transaction, the insider now owns 100,000 shares in the company, valued at $9,572,000. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder Christ Revocable Trust sold 100,000 shares of Altair Engineering stock in a transaction dated Wednesday, October 23rd. The shares were 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. In the last ninety days, insiders sold 360,360 shares of company stock worth $35,476,660. 21.75% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. JPMorgan Chase & Co. downgraded Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 target price on the stock. in a research report on Monday, July 15th. The Goldman Sachs Group lowered Altair Engineering from a “neutral” rating to a “sell” rating and dropped their target price for the company from $85.00 to $71.00 in a research note on Friday, August 2nd. Needham & Company LLC reissued a “buy” rating and set a $100.00 price target on shares of Altair Engineering in a research report on Friday, August 2nd. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $90.00 target price on shares of Altair Engineering in a research report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Altair Engineering currently has an average rating of “Hold” and an average target price of $90.67.

Altair Engineering Price Performance

NASDAQ ALTR opened at $110.67 on Wednesday. The company has a 50 day simple moving average of $93.35 and a 200-day simple moving average of $91.17. The company has a debt-to-equity ratio of 0.29, a current ratio of 3.14 and a quick ratio of 3.14. The firm has a market capitalization of $9.19 billion, a price-to-earnings ratio of 1,229.67, a price-to-earnings-growth ratio of 12.15 and a beta of 1.45. Altair Engineering Inc. has a 52-week low of $57.59 and a 52-week high of $113.12.

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

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.