Altair Engineering Inc. (NASDAQ:ALTR) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC trimmed its holdings in shares of Altair Engineering Inc. (NASDAQ:ALTR - Free Report) by 13.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 126,613 shares of the software's stock after selling 19,934 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.15% of Altair Engineering worth $12,093,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Blue Trust Inc. lifted its position in Altair Engineering by 572.1% in the third quarter. Blue Trust Inc. now owns 289 shares of the software's stock valued at $28,000 after acquiring an additional 246 shares during the last quarter. GAMMA Investing LLC grew its stake in 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 buying an additional 188 shares during the last quarter. FSC Wealth Advisors LLC increased its position in Altair Engineering by 41.3% during the second quarter. FSC Wealth Advisors LLC now owns 832 shares of the software's stock worth $82,000 after buying an additional 243 shares during the period. Van ECK Associates Corp lifted its stake in Altair Engineering by 41.7% in the second 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 boosted its holdings 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 acquiring an additional 249 shares during the period. 63.38% of the stock is owned by hedge funds and other institutional investors.

Altair Engineering Price Performance

ALTR stock traded up $0.43 on Friday, reaching $106.17. 936,847 shares of the company's stock were exchanged, compared to its average volume of 966,797. The stock has a fifty day moving average of $101.63 and a 200-day moving average of $95.09. The firm has a market cap of $9.03 billion, a PE ratio of 279.40, a P/E/G ratio of 12.16 and a beta of 1.44. 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 twelve month low of $70.07 and a twelve month high of $113.12.

Insider Transactions at Altair Engineering

In other Altair Engineering news, CEO James Ralph Scapa sold 16,095 shares of the company's stock in a transaction on Tuesday, December 3rd. The stock was sold at an average price of $105.65, for a total value of $1,700,436.75. Following the sale, the chief executive officer now owns 117,950 shares of the company's stock, valued at approximately $12,461,417.50. This represents a 12.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Christ Revocable Trust sold 100,000 shares of Altair Engineering stock in a transaction on Wednesday, October 23rd. The stock was sold at an average price of $106.57, for a total value of $10,657,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 378,019 shares of company stock valued at $37,686,698 in the last ninety days. 21.75% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on ALTR shares. Royal Bank of Canada lifted their target price on shares of Altair Engineering from $90.00 to $113.00 and gave the company a "sector perform" rating in a report on Thursday, October 31st. William Blair reaffirmed a "market perform" rating on shares of Altair Engineering in a report on Thursday, October 31st. Rosenblatt Securities raised their price target on Altair Engineering from $88.00 to $113.00 and gave the stock a "neutral" rating in a report on Thursday, October 31st. Wolfe Research downgraded Altair Engineering from a "strong-buy" rating to a "hold" rating in a research note on Sunday, November 3rd. Finally, Loop Capital reiterated a "hold" rating and issued a $113.00 target price 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 given a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $100.71.

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.