Healthcare of Ontario Pension Plan Trust Fund Buys Shares of 14,200 Altair Engineering Inc. (NASDAQ:ALTR)

Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of Altair Engineering Inc. (NASDAQ:ALTR) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 14,200 shares of the software’s stock, valued at approximately $1,356,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. New York State Teachers Retirement System increased its stake in Altair Engineering by 1.2% during the 3rd quarter. New York State Teachers Retirement System now owns 8,500 shares of the software’s stock valued at $812,000 after buying an additional 100 shares during the period. ProShare Advisors LLC increased its stake in shares of Altair Engineering by 1.6% during the second quarter. ProShare Advisors LLC now owns 10,219 shares of the software’s stock valued at $1,002,000 after acquiring an additional 160 shares during the period. Ballentine Partners LLC raised its holdings in Altair Engineering by 8.5% during the third quarter. Ballentine Partners LLC now owns 2,236 shares of the software’s stock worth $214,000 after purchasing an additional 175 shares in the last quarter. GAMMA Investing LLC lifted its position in Altair Engineering by 81.7% in the second quarter. GAMMA Investing LLC now owns 418 shares of the software’s stock worth $41,000 after purchasing an additional 188 shares during the period. Finally, Thrivent Financial for Lutherans boosted its stake in Altair Engineering by 1.5% during the 3rd quarter. Thrivent Financial for Lutherans now owns 13,961 shares of the software’s stock valued at $1,333,000 after purchasing an additional 201 shares in the last quarter. 63.38% of the stock is currently owned by institutional investors.

Altair Engineering Stock Performance

Shares of ALTR opened at $105.61 on Monday. The company has a 50-day moving average of $100.49 and a two-hundred day moving average of $94.57. The stock has a market cap of $8.99 billion, a price-to-earnings ratio of 277.93, a PEG ratio of 12.14 and a beta of 1.44. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.27 and a quick ratio of 3.27. Altair Engineering Inc. has a one year low of $70.07 and a one year high of $113.12.

Insider Activity at Altair Engineering

In other news, Director Teresa A. Harris sold 620 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $89.70, for a total value of $55,614.00. Following the completion of the sale, the director now directly owns 21,242 shares of the company’s stock, valued at $1,905,407.40. This represents a 2.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Christ Revocable Trust sold 50,048 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $95.07, for a total transaction of $4,758,063.36. Following the transaction, the insider now directly owns 149,952 shares in the company, valued at $14,255,936.64. The trade was a 25.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 343,044 shares of company stock worth $33,980,921. 21.75% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on ALTR. Rosenblatt Securities boosted their price objective on Altair Engineering from $88.00 to $113.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Loop Capital reissued a “hold” rating and issued a $113.00 price target on shares of Altair Engineering in a report on Thursday, October 31st. Wolfe Research lowered shares of Altair Engineering from a “strong-buy” rating to a “hold” rating in a research report on Sunday, November 3rd. William Blair reiterated a “market perform” rating on shares of Altair Engineering in a report on Thursday, October 31st. Finally, Needham & Company LLC restated a “hold” rating and set a $100.00 target price on shares of Altair Engineering in a report 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 given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $100.71.

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.