Altair Engineering Inc. (NASDAQ:ALTR) Shares Purchased by Zions Bancorporation N.A.

Zions Bancorporation N.A. raised its stake in Altair Engineering Inc. (NASDAQ:ALTR) by 17.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,493 shares of the software’s stock after acquiring an additional 3,326 shares during the quarter. Zions Bancorporation N.A.’s holdings in Altair Engineering were worth $2,148,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Blue Trust Inc. raised its holdings in shares of Altair Engineering by 572.1% in the third quarter. Blue Trust Inc. now owns 289 shares of the software’s stock worth $28,000 after acquiring an additional 246 shares during the last quarter. GAMMA Investing LLC increased its stake in Altair Engineering by 81.7% in the second quarter. GAMMA Investing LLC now owns 418 shares of the software’s stock valued at $41,000 after purchasing an additional 188 shares during the last quarter. FSC Wealth Advisors LLC increased its stake in Altair Engineering by 41.3% in the second quarter. FSC Wealth Advisors LLC now owns 832 shares of the software’s stock valued at $82,000 after purchasing an additional 243 shares during the last quarter. Van ECK Associates Corp grew its position in Altair Engineering by 41.7% during the second quarter. Van ECK Associates Corp now owns 1,057 shares of the software’s stock valued at $104,000 after acquiring an additional 311 shares during the period. Finally, KBC Group NV grew its position in Altair Engineering by 17.9% during 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 institutional investors and hedge funds.

Insider Activity at Altair Engineering

In other Altair Engineering news, major shareholder Christ Revocable Trust sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $106.57, for a total transaction of $10,657,000.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO James Ralph Scapa sold 13,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $89.04, for a total value of $1,157,520.00. Following the sale, the chief executive officer now owns 134,045 shares in the company, valued at $11,935,366.80. The trade was a 8.84 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 362,544 shares of company stock valued at $35,717,201. Insiders own 21.75% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ALTR shares. Needham & Company LLC reissued a “hold” rating and set a $100.00 price target on shares of Altair Engineering in a research report on Thursday, October 31st. Wolfe Research downgraded Altair Engineering from a “strong-buy” rating to a “hold” rating in a research report on Sunday, November 3rd. William Blair reissued a “market perform” rating on shares of Altair Engineering in a research report on Thursday, October 31st. Loop Capital reissued a “hold” rating and set a $113.00 price target on shares of Altair Engineering in a research report on Thursday, October 31st. Finally, The Goldman Sachs Group downgraded Altair Engineering from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $85.00 to $71.00 in a research report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, Altair Engineering presently has a consensus rating of “Hold” and a consensus price target of $100.71.

Altair Engineering Price Performance

Shares of NASDAQ ALTR opened at $103.72 on Friday. Altair Engineering Inc. has a 1-year low of $68.87 and a 1-year high of $113.12. The business has a 50-day moving average of $97.02 and a 200-day moving average of $92.89. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.27 and a quick ratio of 3.27. The company has a market capitalization of $8.82 billion, a price-to-earnings ratio of 272.95, a PEG ratio of 11.95 and a beta of 1.44.

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.