Thrivent Financial for Lutherans Has $1.33 Million Position in Altair Engineering Inc. (NASDAQ:ALTR)

Thrivent Financial for Lutherans grew its holdings in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 1.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,961 shares of the software’s stock after buying an additional 201 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Altair Engineering were worth $1,333,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Blue Trust Inc. raised its holdings in Altair Engineering by 572.1% during the third 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 increased 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 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 purchasing an additional 243 shares in the last quarter. Van ECK Associates Corp boosted its holdings 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 buying an additional 311 shares during the last quarter. Finally, KBC Group NV grew its stake in shares of Altair Engineering by 17.9% in the third quarter. KBC Group NV now owns 1,640 shares of the software’s stock valued at $157,000 after buying an additional 249 shares in the last quarter. 63.38% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Altair Engineering

In other Altair Engineering news, major shareholder Christ Revocable Trust sold 50,048 shares of the firm’s stock in a transaction on Friday, September 27th. The shares were sold at an average price of $95.07, for a total value of $4,758,063.36. Following the completion of the sale, the insider now directly owns 149,952 shares in the company, valued at approximately $14,255,936.64. This trade represents a 25.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Teresa A. Harris sold 620 shares of Altair Engineering stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $89.70, for a total transaction 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 approximately $1,905,407.40. This trade represents a 2.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 343,044 shares of company stock valued at $33,980,921. 21.75% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ALTR. Needham & Company LLC reaffirmed a “hold” rating and set a $100.00 price target on shares of Altair Engineering in a research report on Thursday, October 31st. Royal Bank of Canada boosted their price objective 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, October 31st. Rosenblatt Securities upped their target price on shares of Altair Engineering from $88.00 to $113.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. William Blair reiterated a “market perform” rating on shares of Altair Engineering in a report on Thursday, October 31st. Finally, Loop Capital restated a “hold” rating and issued a $113.00 price objective 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 assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $100.71.

Altair Engineering Stock Up 0.2 %

Altair Engineering stock opened at $105.61 on Friday. Altair Engineering Inc. has a twelve month low of $70.07 and a twelve month high of $113.12. The company has a quick ratio of 3.27, a current ratio of 3.27 and a debt-to-equity ratio of 0.27. The company’s 50-day moving average price is $100.49 and its two-hundred day moving average price is $94.52. The stock has a market cap of $8.99 billion, a P/E ratio of 277.92, a P/E/G ratio of 12.12 and a beta of 1.44.

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.