Stephens Investment Management Group LLC Decreases Holdings in Altair Engineering Inc. (NASDAQ:ALTR)

Stephens Investment Management Group LLC trimmed its holdings in shares of Altair Engineering Inc. (NASDAQ:ALTR - Free Report) by 79.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 76,735 shares of the software's stock after selling 299,544 shares during the quarter. Stephens Investment Management Group LLC owned 0.09% of Altair Engineering worth $8,373,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Retirement Systems of Alabama grew its holdings in Altair Engineering by 0.7% during the 4th quarter. Retirement Systems of Alabama now owns 72,685 shares of the software's stock worth $7,931,000 after acquiring an additional 494 shares during the last quarter. KBC Group NV boosted its stake in shares of Altair Engineering by 62.4% in the 4th quarter. KBC Group NV now owns 2,663 shares of the software's stock valued at $291,000 after purchasing an additional 1,023 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of Altair Engineering by 185.5% in the 4th quarter. Blue Trust Inc. now owns 825 shares of the software's stock valued at $90,000 after purchasing an additional 536 shares during the last quarter. UMB Bank n.a. boosted its stake in shares of Altair Engineering by 77.0% in the 4th quarter. UMB Bank n.a. now owns 285 shares of the software's stock valued at $31,000 after purchasing an additional 124 shares during the last quarter. Finally, PFW Advisors LLC bought a new stake in shares of Altair Engineering in the 4th quarter valued at $227,000. 63.38% of the stock is owned by institutional investors.

Altair Engineering Stock Up 0.3 %

ALTR traded up $0.31 during trading on Thursday, hitting $110.70. 998,052 shares of the company's stock were exchanged, compared to its average volume of 797,150. The company has a quick ratio of 3.27, a current ratio of 3.27 and a debt-to-equity ratio of 0.27. The business's 50 day moving average is $109.30 and its two-hundred day moving average is $100.33. The stock has a market cap of $9.42 billion, a P/E ratio of 291.32, a PEG ratio of 10.62 and a beta of 1.42. Altair Engineering Inc. has a fifty-two week low of $75.71 and a fifty-two week high of $113.12.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ALTR shares. Needham & Company LLC reaffirmed a "hold" rating and issued a $100.00 price objective 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 objective on shares of Altair Engineering in a research note on Thursday, October 31st. William Blair reaffirmed a "market perform" rating on shares of Altair Engineering in a research note on Thursday, October 31st. Rosenblatt Securities increased 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. Finally, Royal Bank of Canada increased their target price on shares of Altair Engineering from $90.00 to $113.00 and gave the stock a "sector perform" rating in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $100.71.

Insider Buying and Selling

In other Altair Engineering news, CFO Matthew Charles Brown sold 1,048 shares of Altair Engineering stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $108.90, for a total transaction of $114,127.20. Following the transaction, the chief financial officer now directly owns 55,519 shares of the company's stock, valued at $6,046,019.10. The trade was a 1.85 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CRO Nelson Dias sold 22,500 shares of the stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $106.23, for a total transaction of $2,390,175.00. Following the completion of the sale, the executive now owns 48,437 shares of the company's stock, valued at approximately $5,145,462.51. This represents a 31.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 59,143 shares of company stock worth $6,265,694 in the last quarter. Insiders own 21.75% of the company's stock.

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.