Vontobel Holding Ltd. Reduces Holdings in Altair Engineering Inc. (NASDAQ:ALTR)

Vontobel Holding Ltd. decreased its holdings in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 9.8% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 11,358 shares of the software’s stock after selling 1,230 shares during the period. Vontobel Holding Ltd.’s holdings in Altair Engineering were worth $1,239,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the business. Conestoga Capital Advisors LLC boosted its position in Altair Engineering by 1.4% in the third quarter. Conestoga Capital Advisors LLC now owns 2,522,551 shares of the software’s stock valued at $240,929,000 after buying an additional 33,985 shares during the last quarter. State Street Corp boosted its position in Altair Engineering by 3.3% in the third quarter. State Street Corp now owns 2,053,957 shares of the software’s stock valued at $196,173,000 after buying an additional 65,589 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Altair Engineering by 3.9% in the third quarter. Geode Capital Management LLC now owns 1,423,880 shares of the software’s stock valued at $136,020,000 after acquiring an additional 53,088 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in Altair Engineering by 9.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 505,470 shares of the software’s stock valued at $48,277,000 after acquiring an additional 42,592 shares during the period. Finally, Fisher Asset Management LLC lifted its holdings in Altair Engineering by 27.0% in the third quarter. Fisher Asset Management LLC now owns 401,612 shares of the software’s stock valued at $38,358,000 after acquiring an additional 85,303 shares during the period. Hedge funds and other institutional investors own 63.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. William Blair reaffirmed a “market perform” rating on shares of Altair Engineering in a research note on Thursday, October 31st. Rosenblatt Securities upped 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. Needham & Company LLC reissued a “hold” rating and issued a $100.00 price objective on shares of Altair Engineering in a research note on Thursday, October 31st. Loop Capital restated a “hold” rating and issued a $113.00 price objective on shares of Altair Engineering in a report on Thursday, October 31st. Finally, Royal Bank of Canada raised their price objective on Altair Engineering from $90.00 to $113.00 and gave the company a “sector perform” rating in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $100.71.

Altair Engineering Stock Up 0.1 %

Shares of NASDAQ:ALTR opened at $110.85 on Tuesday. The business has a 50-day moving average price of $109.47 and a 200 day moving average price of $100.85. The company has a current ratio of 3.27, a quick ratio of 3.27 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $9.43 billion, a price-to-earnings ratio of 291.72, a PEG ratio of 10.62 and a beta of 1.42. Altair Engineering Inc. has a 12-month low of $75.71 and a 12-month high of $113.12.

Insider Buying and Selling at Altair Engineering

In other 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 value of $114,127.20. Following the completion of the transaction, the chief financial officer now owns 55,519 shares in the company, valued at approximately $6,046,019.10. This trade represents a 1.85 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO James Ralph Scapa sold 13,000 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $105.69, for a total value of $1,373,970.00. Following the sale, the chief executive officer now owns 134,045 shares of the company’s stock, valued at approximately $14,167,216.05. The trade was a 8.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 59,143 shares of company stock valued at $6,265,694 in the last three months. 21.75% of the stock is owned by corporate 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.