Altair Engineering Inc. (NASDAQ:ALTR) Shares Sold by Stifel Financial Corp

Stifel Financial Corp trimmed its stake in Altair Engineering Inc. (NASDAQ:ALTR) by 2.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,985 shares of the software’s stock after selling 171 shares during the quarter. Stifel Financial Corp’s holdings in Altair Engineering were worth $572,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Needham Investment Management LLC boosted its holdings in shares of Altair Engineering by 19.3% in the 3rd quarter. Needham Investment Management LLC now owns 231,500 shares of the software’s stock valued at $22,111,000 after purchasing an additional 37,500 shares during the last quarter. Verition Fund Management LLC acquired a new position in Altair Engineering in the third quarter valued at $313,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Altair Engineering during the third quarter valued at about $1,356,000. Glenmede Trust Co. NA increased its stake in Altair Engineering by 11.1% during the third quarter. Glenmede Trust Co. NA now owns 23,343 shares of the software’s stock worth $2,229,000 after acquiring an additional 2,334 shares during the last quarter. Finally, Mirabella Financial Services LLP raised its holdings in shares of Altair Engineering by 560.7% in the 3rd quarter. Mirabella Financial Services LLP now owns 37,262 shares of the software’s stock worth $3,420,000 after purchasing an additional 31,622 shares during the period. Institutional investors and hedge funds own 63.38% of the company’s stock.

Insider Buying and Selling

In other Altair Engineering news, major shareholder Christ Revocable Trust sold 100,000 shares of the stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $106.57, for a total transaction of $10,657,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Teresa A. Harris sold 620 shares of Altair Engineering stock in a transaction that occurred on Tuesday, October 1st. The stock was sold at an average price of $95.12, for a total value of $58,974.40. Following the completion of the transaction, the director now owns 21,242 shares of the company’s stock, valued at approximately $2,020,539.04. The trade was a 2.84 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 351,519 shares of company stock worth $35,432,937. Insiders own 21.75% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ALTR. Loop Capital reiterated a “hold” rating and set a $113.00 target price on shares of Altair Engineering in a 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. Wolfe Research downgraded shares of Altair Engineering from a “strong-buy” rating to a “hold” rating in a research note on Sunday, November 3rd. Rosenblatt Securities upped their price target on shares of Altair Engineering from $88.00 to $113.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, William Blair reissued a “market perform” rating on shares of Altair Engineering in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $100.71.

Altair Engineering Stock Performance

NASDAQ:ALTR opened at $109.10 on Friday. The stock has a market cap of $9.28 billion, a P/E ratio of 287.11, a PEG ratio of 12.16 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. The firm has a 50-day moving average of $105.18 and a two-hundred day moving average of $96.83. Altair Engineering Inc. has a 1-year low of $75.71 and a 1-year high of $113.12.

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.