Fisher Asset Management LLC Raises Holdings in Altair Engineering Inc. (NASDAQ:ALTR)

Fisher Asset Management LLC increased its holdings in Altair Engineering Inc. (NASDAQ:ALTR - Free Report) by 27.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 401,612 shares of the software's stock after buying an additional 85,303 shares during the quarter. Fisher Asset Management LLC owned about 0.47% of Altair Engineering worth $38,358,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of ALTR. GAMMA Investing LLC lifted its holdings in shares of Altair Engineering by 52.2% in the 3rd quarter. GAMMA Investing LLC now owns 636 shares of the software's stock valued at $61,000 after buying an additional 218 shares during the period. Moody Aldrich Partners LLC lifted its holdings in Altair Engineering by 15.2% in the third 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 during the period. Linden Thomas Advisory Services LLC purchased a new stake in Altair Engineering in the 2nd quarter worth approximately $629,000. Jane Street Group LLC grew its stake in shares of Altair Engineering by 960.2% during the 1st quarter. Jane Street Group LLC now owns 303,672 shares of the software's stock worth $26,161,000 after purchasing an additional 275,030 shares during the period. Finally, Envestnet Asset Management Inc. grew its stake in shares of Altair Engineering by 8.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 85,065 shares of the software's stock worth $8,343,000 after purchasing an additional 6,956 shares during the period. 63.38% of the stock is owned by hedge funds and other institutional investors.

Altair Engineering Price Performance

Shares of NASDAQ ALTR traded up $0.06 during midday trading on Wednesday, hitting $105.46. The stock had a trading volume of 219,736 shares, compared to its average volume of 588,311. The company has a quick ratio of 3.27, a current ratio of 3.27 and a debt-to-equity ratio of 0.27. Altair Engineering Inc. has a 1 year low of $70.07 and a 1 year high of $113.12. The company has a market capitalization of $8.97 billion, a PE ratio of 277.82, a P/E/G ratio of 12.17 and a beta of 1.44. The stock has a 50 day simple moving average of $99.81 and a 200-day simple moving average of $94.23.

Insider Buying and Selling at Altair Engineering

In related news, CEO James Ralph Scapa sold 13,000 shares of the stock in a transaction that occurred on Monday, September 30th. The stock was sold at an average price of $95.10, for a total value of $1,236,300.00. Following the completion of the sale, the chief executive officer now owns 134,045 shares of the company's stock, valued at approximately $12,747,679.50. This trade represents a 8.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Christ Revocable Trust sold 50,048 shares of the business's stock in a transaction on Friday, September 27th. The stock was sold at an average price of $95.07, for a total value of $4,758,063.36. Following the transaction, the insider now directly owns 149,952 shares in the company, valued at $14,255,936.64. This trade represents a 25.02 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 343,044 shares of company stock worth $33,980,921. Corporate insiders own 21.75% of the company's stock.

Analyst Ratings Changes

ALTR has been the topic of a number of recent analyst reports. The Goldman Sachs Group downgraded shares of Altair Engineering from a "neutral" rating to a "sell" rating and lowered their price target for the stock from $85.00 to $71.00 in a report on Friday, August 2nd. Wolfe Research lowered shares of Altair Engineering from a "strong-buy" rating to a "hold" rating in a research note on Sunday, November 3rd. Needham & Company LLC restated a "hold" rating and issued a $100.00 price target on shares of Altair Engineering in a research note on Thursday, October 31st. Loop Capital reaffirmed a "hold" rating and issued a $113.00 price target on shares of Altair Engineering in a report on Thursday, October 31st. Finally, William Blair reissued a "market perform" rating on shares of Altair Engineering in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $100.71.

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.