Hardy Reed LLC Sells 300 Shares of Altair Engineering Inc. (NASDAQ:ALTR)

Hardy Reed LLC reduced its position in Altair Engineering Inc. (NASDAQ:ALTR) by 11.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,270 shares of the software’s stock after selling 300 shares during the period. Hardy Reed LLC’s holdings in Altair Engineering were worth $248,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of ALTR. Creative Planning lifted its holdings in shares of Altair Engineering by 5.9% in the 3rd quarter. Creative Planning now owns 11,279 shares of the software’s stock worth $1,077,000 after purchasing an additional 631 shares in the last quarter. Blue Trust Inc. lifted its stake in Altair Engineering by 572.1% during the 3rd quarter. Blue Trust Inc. now owns 289 shares of the software’s stock valued at $28,000 after acquiring an additional 246 shares in the last quarter. Private Advisor Group LLC bought a new position in Altair Engineering during the 3rd quarter valued at $208,000. Moody Aldrich Partners LLC lifted its stake in Altair Engineering by 15.2% during the 3rd quarter. Moody Aldrich Partners LLC now owns 75,233 shares of the software’s stock valued at $7,186,000 after acquiring an additional 9,907 shares in the last quarter. Finally, Ballentine Partners LLC lifted its stake in Altair Engineering by 8.5% during the 3rd quarter. Ballentine Partners LLC now owns 2,236 shares of the software’s stock valued at $214,000 after acquiring an additional 175 shares in the last quarter. 63.38% of the stock is currently owned by institutional investors.

Altair Engineering Trading Up 0.1 %

Shares of ALTR opened at $111.25 on Thursday. The business has a 50-day moving average of $109.68 and a 200 day moving average of $101.12. Altair Engineering Inc. has a fifty-two week low of $75.71 and a fifty-two week high of $113.12. The firm has a market cap of $9.47 billion, a P/E ratio of 292.77, a price-to-earnings-growth ratio of 10.66 and a beta of 1.42. The company has a debt-to-equity ratio of 0.27, a quick ratio of 3.27 and a current ratio of 3.27.

Analysts Set New Price Targets

Several brokerages have weighed in on ALTR. Wolfe Research cut Altair Engineering from a “strong-buy” rating to a “hold” rating in a research note on Sunday, November 3rd. Needham & Company LLC reiterated a “hold” rating and set a $100.00 target price on shares of Altair Engineering in a research note on Thursday, October 31st. William Blair reiterated a “market perform” rating on shares of Altair Engineering in a research note on Thursday, October 31st. Rosenblatt Securities lifted their target price on Altair Engineering from $88.00 to $113.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Finally, Loop Capital reiterated a “hold” rating and set a $113.00 target price on shares of Altair Engineering in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $100.71.

Insider Buying and Selling

In other Altair Engineering news, CFO Matthew Charles Brown sold 1,048 shares of Altair Engineering stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $108.90, for a total transaction of $114,127.20. Following the completion of the transaction, the chief financial officer now owns 55,519 shares of the company’s stock, valued at $6,046,019.10. The trade was a 1.85 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO James Ralph Scapa sold 13,000 shares of Altair Engineering stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $105.69, for a total value of $1,373,970.00. Following the transaction, the chief executive officer now directly owns 134,045 shares of the company’s stock, valued at $14,167,216.05. The trade was a 8.84 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 59,143 shares of company stock valued at $6,265,694. 21.75% of the stock is owned by 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.