Stephens Investment Management Group LLC Cuts Position in Altair Engineering Inc. (NASDAQ:ALTR)

Stephens Investment Management Group LLC reduced its stake in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 4.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 376,279 shares of the software’s stock after selling 16,381 shares during the quarter. Stephens Investment Management Group LLC’s holdings in Altair Engineering were worth $35,938,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the stock. Blue Trust Inc. lifted its position in shares of Altair Engineering by 572.1% during the third quarter. Blue Trust Inc. now owns 289 shares of the software’s stock valued at $28,000 after buying an additional 246 shares during the last quarter. GAMMA Investing LLC raised its stake 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 acquiring an additional 188 shares in the last quarter. FSC Wealth Advisors LLC raised its stake 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 acquiring an additional 243 shares in the last quarter. Van ECK Associates Corp lifted its position in Altair Engineering by 41.7% during the second quarter. Van ECK Associates Corp now owns 1,057 shares of the software’s stock valued at $104,000 after acquiring an additional 311 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in Altair Engineering in the first quarter worth $177,000. Institutional investors own 63.38% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ALTR. William Blair reiterated a “market perform” rating on shares of Altair Engineering in a report on Thursday. Rosenblatt Securities raised their price target on Altair Engineering from $88.00 to $113.00 and gave the stock a “neutral” rating in a report on Thursday. Needham & Company LLC restated a “hold” rating and set a $100.00 price objective on shares of Altair Engineering in a report on Thursday. Royal Bank of Canada lifted their target price on shares of Altair Engineering from $90.00 to $113.00 and gave the stock a “sector perform” rating in a research note on Thursday. Finally, Loop Capital restated a “hold” rating and set a $113.00 price target on shares of Altair Engineering in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, Altair Engineering has an average rating of “Hold” and a consensus price target of $100.71.

Insider Buying and Selling at Altair Engineering

In other news, 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 value of $578,760.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Altair Engineering news, major shareholder Christ Revocable Trust sold 100,000 shares of Altair Engineering stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $106.57, for a total value of $10,657,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Jrs Investments Llc sold 6,500 shares of the 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. In the last quarter, insiders sold 360,360 shares of company stock worth $35,476,660. Insiders own 21.75% of the company’s stock.

Altair Engineering Price Performance

Shares of NASDAQ:ALTR opened at $103.99 on Friday. Altair Engineering Inc. has a twelve month low of $57.59 and a twelve 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 company has a market cap of $8.63 billion, a PE ratio of 1,155.44, a price-to-earnings-growth ratio of 12.15 and a beta of 1.45. The company’s 50 day moving average is $94.03 and its 200 day moving average is $91.38.

Altair Engineering (NASDAQ:ALTR) last released its quarterly earnings data on Wednesday, October 30th. The software reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.02 by $0.07. The firm had revenue of $151.45 million for the quarter, compared to analyst estimates of $146.55 million. Altair Engineering had a net margin of 4.26% and a return on equity of 6.89%. On average, sell-side analysts forecast that Altair Engineering Inc. will post 0.65 EPS for the current year.

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.