Altair Engineering Inc. (NASDAQ:ALTR) Shares Acquired by Blue Trust Inc.

Blue Trust Inc. grew its position in Altair Engineering Inc. (NASDAQ:ALTR) by 572.1% in the third quarter, HoldingsChannel reports. The fund owned 289 shares of the software’s stock after acquiring an additional 246 shares during the quarter. Blue Trust Inc.’s holdings in Altair Engineering were worth $28,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of ALTR. ProShare Advisors LLC raised its position in shares of Altair Engineering by 1.6% during the 2nd quarter. ProShare Advisors LLC now owns 10,219 shares of the software’s stock worth $1,002,000 after purchasing an additional 160 shares during the last quarter. GAMMA Investing LLC raised its position in shares of Altair Engineering by 81.7% during the 2nd quarter. GAMMA Investing LLC now owns 418 shares of the software’s stock worth $41,000 after purchasing an additional 188 shares during the last quarter. FSC Wealth Advisors LLC raised its position in shares of Altair Engineering by 41.3% during the 2nd quarter. FSC Wealth Advisors LLC now owns 832 shares of the software’s stock worth $82,000 after purchasing an additional 243 shares during the last quarter. Cullen Frost Bankers Inc. raised its position in shares of Altair Engineering by 6.8% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 4,356 shares of the software’s stock worth $427,000 after purchasing an additional 276 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in shares of Altair Engineering by 41.7% during the 2nd quarter. Van ECK Associates Corp now owns 1,057 shares of the software’s stock worth $104,000 after purchasing an additional 311 shares during the last quarter. Institutional investors and hedge funds own 63.38% of the company’s stock.

Altair Engineering Stock Up 0.0 %

Shares of NASDAQ ALTR opened at $104.00 on Friday. The company has a 50-day moving average of $94.30 and a 200 day moving average of $91.54. Altair Engineering Inc. has a 12-month low of $57.59 and a 12-month high of $113.12. 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 stock has a market cap of $8.83 billion, a PE ratio of 273.68, a P/E/G ratio of 13.87 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, beating the consensus estimate of $0.15 by $0.01. Altair Engineering had a net margin of 5.10% and a return on equity of 7.70%. The business had revenue of $148.80 million during the quarter, compared to analysts’ expectations of $146.88 million. During the same quarter in the prior year, the company posted ($0.15) EPS. The business’s revenue for the quarter was up 5.4% on a year-over-year basis. As a group, sell-side analysts predict that Altair Engineering Inc. will post 0.65 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on ALTR shares. The Goldman Sachs Group downgraded shares of Altair Engineering from a “neutral” rating to a “sell” rating and reduced their price target for the stock from $85.00 to $71.00 in a research report on Friday, August 2nd. Royal Bank of Canada upped their price target on shares of Altair Engineering from $90.00 to $113.00 and gave the stock a “sector perform” rating in a research report on Thursday. Loop Capital restated a “hold” rating and set a $113.00 price target on shares of Altair Engineering in a research report on Thursday. Needham & Company LLC reaffirmed a “hold” rating and set a $100.00 price objective on shares of Altair Engineering in a research note on Thursday. Finally, JPMorgan Chase & Co. cut shares of Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 price objective for the company. in a research note on Monday, July 15th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $100.71.

Insider Activity

In other news, Director Teresa A. Harris sold 620 shares of the stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $82.57, for a total value of $51,193.40. Following the completion of the sale, the director now owns 21,242 shares of the company’s stock, valued at $1,753,951.94. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, major shareholder George J. Christ sold 2,176 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $95.31, for a total transaction of $207,394.56. Following the completion of the transaction, the insider now owns 300,000 shares of the company’s stock, valued at approximately $28,593,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Teresa A. Harris sold 620 shares of the stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $82.57, for a total transaction of $51,193.40. Following the transaction, the director now directly owns 21,242 shares of the company’s stock, valued at $1,753,951.94. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 360,360 shares of company stock valued at $35,476,660 in the last 90 days. Company insiders own 21.75% of the company’s stock.

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.