Conestoga Capital Advisors LLC Trims Holdings in Altair Engineering Inc. (NASDAQ:ALTR)

Conestoga Capital Advisors LLC cut its holdings in Altair Engineering Inc. (NASDAQ:ALTR - Free Report) by 55.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,112,548 shares of the software's stock after selling 1,410,003 shares during the quarter. Altair Engineering comprises approximately 1.6% of Conestoga Capital Advisors LLC's portfolio, making the stock its 27th largest holding. Conestoga Capital Advisors LLC owned about 1.31% of Altair Engineering worth $121,390,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ALTR. State Street Corp raised its stake in Altair Engineering by 3.3% during the 3rd quarter. State Street Corp now owns 2,053,957 shares of the software's stock valued at $196,173,000 after acquiring an additional 65,589 shares during the last quarter. Geode Capital Management LLC raised its holdings in Altair Engineering by 3.9% during the third quarter. Geode Capital Management LLC now owns 1,423,880 shares of the software's stock worth $136,020,000 after purchasing an additional 53,088 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Altair Engineering by 9.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 505,470 shares of the software's stock worth $48,277,000 after buying an additional 42,592 shares in the last quarter. Fisher Asset Management LLC grew its position in shares of 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 purchasing an additional 85,303 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Altair Engineering by 31.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 392,343 shares of the software's stock worth $37,473,000 after purchasing an additional 94,219 shares during the last quarter. 63.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on ALTR shares. William Blair reiterated a "market perform" rating on shares of Altair Engineering in a report on Thursday, October 31st. Needham & Company LLC restated a "hold" rating and issued a $100.00 target price on shares of Altair Engineering in a report on Thursday, October 31st. Loop Capital reiterated a "hold" rating and set a $113.00 price target on shares of Altair Engineering in a report on Thursday, October 31st. Wolfe Research downgraded shares of Altair Engineering from a "strong-buy" rating to a "hold" rating in a research note on Sunday, November 3rd. Finally, 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 research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Altair Engineering presently has an average rating of "Hold" and a consensus target price of $100.71.

Insider Activity at Altair Engineering

In other news, major shareholder Jrs Investments Llc sold 6,500 shares of the company's stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $105.69, for a total value of $686,985.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Ravi Kunju sold 360 shares of the firm's stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $103.65, for a total value of $37,314.00. Following the sale, the insider now owns 30,305 shares in the company, valued at approximately $3,141,113.25. The trade was a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 59,503 shares of company stock worth $6,303,008. 21.75% of the stock is owned by insiders.

Altair Engineering Trading Down 0.0 %

Shares of ALTR traded down $0.04 during mid-day trading on Thursday, reaching $110.46. The company had a trading volume of 856,224 shares, compared to its average volume of 829,722. The stock has a market cap of $9.40 billion, a price-to-earnings ratio of 290.69, a price-to-earnings-growth ratio of 10.61 and a beta of 1.42. 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 firm has a fifty day simple moving average of $108.82 and a 200-day simple moving average of $99.59. Altair Engineering Inc. has a fifty-two week low of $75.71 and a fifty-two week high of $113.12.

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.