Charles Schwab Investment Management Inc. Grows Position in Altair Engineering Inc. (NASDAQ:ALTR)

Charles Schwab Investment Management Inc. boosted its position in Altair Engineering Inc. (NASDAQ:ALTR - Free Report) by 9.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 505,470 shares of the software's stock after acquiring an additional 42,592 shares during the period. Charles Schwab Investment Management Inc. owned 0.59% of Altair Engineering worth $48,277,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of ALTR. Blue Trust Inc. lifted its position in Altair Engineering by 572.1% during the 3rd 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 period. GAMMA Investing LLC lifted its position in Altair Engineering by 81.7% during the 2nd quarter. GAMMA Investing LLC now owns 418 shares of the software's stock valued at $41,000 after acquiring an additional 188 shares during the period. FSC Wealth Advisors LLC raised its holdings in Altair Engineering by 41.3% in 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 last quarter. Van ECK Associates Corp raised its holdings in Altair Engineering by 41.7% in the second quarter. Van ECK Associates Corp now owns 1,057 shares of the software's stock worth $104,000 after buying an additional 311 shares during the last quarter. Finally, KBC Group NV raised its holdings in Altair Engineering by 17.9% in the third quarter. KBC Group NV now owns 1,640 shares of the software's stock worth $157,000 after buying an additional 249 shares during the last quarter. 63.38% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have issued reports on ALTR shares. Wolfe Research cut shares of Altair Engineering from a "strong-buy" rating to a "hold" rating in a report on Sunday, November 3rd. Rosenblatt Securities lifted their target price on shares of Altair Engineering from $88.00 to $113.00 and gave the stock a "neutral" 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. Loop Capital reaffirmed a "hold" rating and issued a $113.00 target price on shares of Altair Engineering in a report on Thursday, October 31st. Finally, Royal Bank of Canada lifted their target price on shares of Altair Engineering from $90.00 to $113.00 and gave the stock a "sector perform" rating in a report on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, Altair Engineering presently has a consensus rating of "Hold" and an average price target of $100.71.

Altair Engineering Stock Performance

ALTR traded up $0.22 during midday trading on Monday, reaching $105.83. The company had a trading volume of 565,732 shares, compared to its average volume of 587,695. The business has a 50-day moving average of $100.49 and a two-hundred day moving average of $94.60. 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 cap of $9.00 billion, a P/E ratio of 276.82, a P/E/G ratio of 12.14 and a beta of 1.44.

Insider Transactions at Altair Engineering

In related news, Director Teresa A. Harris sold 620 shares of Altair Engineering stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $89.70, for a total transaction of $55,614.00. Following the sale, the director now owns 21,242 shares of the company's stock, valued at approximately $1,905,407.40. This trade represents a 2.84 % decrease in their position. The sale 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 firm's stock in a transaction that occurred on Friday, September 27th. The shares were sold at an average price of $95.07, for a total value of $4,758,063.36. Following the transaction, the insider now owns 149,952 shares of the company's stock, valued at $14,255,936.64. This represents a 25.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 362,544 shares of company stock valued at $36,041,876 over the last quarter. 21.75% of the stock is currently owned by company insiders.

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.