Bradley Foster & Sargent Inc. CT Sells 227 Shares of Altair Engineering Inc. (NASDAQ:ALTR)

Bradley Foster & Sargent Inc. CT lowered its stake in Altair Engineering Inc. (NASDAQ:ALTR) by 1.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,630 shares of the software’s stock after selling 227 shares during the quarter. Bradley Foster & Sargent Inc. CT’s holdings in Altair Engineering were worth $1,435,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in the stock. Matrix Capital Management Company LP boosted its stake in Altair Engineering by 1.6% in the 1st quarter. Matrix Capital Management Company LP now owns 12,430,000 shares of the software’s stock worth $1,070,844,000 after purchasing an additional 196,826 shares during the period. Vanguard Group Inc. boosted its stake in Altair Engineering by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 5,944,285 shares of the software’s stock worth $512,100,000 after purchasing an additional 182,840 shares during the period. Conestoga Capital Advisors LLC boosted its stake in Altair Engineering by 2.0% in the 2nd quarter. Conestoga Capital Advisors LLC now owns 2,488,566 shares of the software’s stock worth $244,079,000 after purchasing an additional 48,485 shares during the period. Wellington Management Group LLP boosted its stake in Altair Engineering by 97.3% in the 4th quarter. Wellington Management Group LLP now owns 1,182,339 shares of the software’s stock worth $99,494,000 after purchasing an additional 583,127 shares during the period. Finally, William Blair Investment Management LLC bought a new position in Altair Engineering in the 2nd quarter worth about $91,589,000. Institutional investors own 63.38% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on ALTR shares. JPMorgan Chase & Co. downgraded Altair Engineering from an “overweight” rating to a “neutral” rating and set a $95.00 target price for the company. in a research note on Monday, July 15th. The Goldman Sachs Group downgraded Altair Engineering from a “neutral” rating to a “sell” rating and dropped their price target for the company from $85.00 to $71.00 in a research report on Friday, August 2nd. Finally, Needham & Company LLC reiterated a “buy” rating and set a $100.00 price target on shares of Altair Engineering in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $90.67.

Insiders Place Their Bets

In other Altair Engineering news, major shareholder George J. Christ sold 100,000 shares of Altair Engineering stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $98.40, for a total value of $9,840,000.00. Following the transaction, the insider now directly owns 200,000 shares of the company’s stock, valued at approximately $19,680,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Altair Engineering news, CEO James Ralph Scapa sold 13,000 shares of Altair Engineering stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $98.26, for a total value of $1,277,380.00. Following the transaction, the chief executive officer now directly owns 134,045 shares of the company’s stock, valued at approximately $13,171,261.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder George J. Christ sold 100,000 shares of Altair Engineering stock in a transaction that occurred on Thursday, June 27th. The stock was sold at an average price of $98.40, for a total value of $9,840,000.00. Following the completion of the transaction, the insider now directly owns 200,000 shares in the company, valued at $19,680,000. The disclosure for this sale can be found here. Insiders have sold 153,860 shares of company stock valued at $14,739,205 in the last ninety days. Company insiders own 21.75% of the company’s stock.

Altair Engineering Stock Performance

Shares of NASDAQ ALTR opened at $92.86 on Thursday. The stock has a market cap of $7.71 billion, a price-to-earnings ratio of 1,041.89, a P/E/G ratio of 10.94 and a beta of 1.45. The company has a current ratio of 3.14, a quick ratio of 3.14 and a debt-to-equity ratio of 0.29. Altair Engineering Inc. has a 1-year low of $57.59 and a 1-year high of $101.39. The stock’s 50-day moving average is $89.31 and its 200 day moving average is $88.38.

Altair Engineering (NASDAQ:ALTR) last announced its quarterly earnings data on Thursday, August 1st. The software reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.01. The company had revenue of $148.80 million for the quarter, compared to analysts’ expectations of $146.88 million. Altair Engineering had a return on equity of 6.89% and a net margin of 4.26%. Altair Engineering’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period last year, the firm posted ($0.15) EPS. On average, sell-side analysts anticipate that Altair Engineering Inc. will post 0.65 EPS for the current fiscal year.

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.