Altair Engineering Inc. (NASDAQ:ALTR) Shares Bought by Fisher Asset Management LLC

Fisher Asset Management LLC lifted its holdings in Altair Engineering Inc. (NASDAQ:ALTR) by 27.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 401,612 shares of the software’s stock after purchasing an additional 85,303 shares during the period. Fisher Asset Management LLC owned about 0.47% of Altair Engineering worth $38,358,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. GAMMA Investing LLC grew its position in Altair Engineering by 52.2% in the third quarter. GAMMA Investing LLC now owns 636 shares of the software’s stock worth $61,000 after buying an additional 218 shares during the last quarter. Moody Aldrich Partners LLC grew its holdings in shares of Altair Engineering by 15.2% in the 3rd quarter. Moody Aldrich Partners LLC now owns 75,233 shares of the software’s stock worth $7,186,000 after acquiring an additional 9,907 shares during the last quarter. Linden Thomas Advisory Services LLC acquired a new stake in shares of Altair Engineering during the second quarter worth $629,000. Jane Street Group LLC lifted its holdings in shares of Altair Engineering by 960.2% during the first quarter. Jane Street Group LLC now owns 303,672 shares of the software’s stock valued at $26,161,000 after purchasing an additional 275,030 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its position in shares of Altair Engineering by 8.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 85,065 shares of the software’s stock valued at $8,343,000 after purchasing an additional 6,956 shares during the period. Institutional investors and hedge funds own 63.38% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. William Blair restated a “market perform” rating on shares of Altair Engineering in a report on Thursday, October 31st. Needham & Company LLC restated a “hold” rating and set a $100.00 price target on shares of Altair Engineering in a report on Thursday, October 31st. Rosenblatt Securities raised their price objective 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. Royal Bank of Canada lifted their price objective on shares of Altair Engineering from $90.00 to $113.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 31st. Finally, The Goldman Sachs Group lowered Altair Engineering from a “neutral” rating to a “sell” rating and reduced their target price for the company from $85.00 to $71.00 in a report on Friday, August 2nd. One equities 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, Altair Engineering has an average rating of “Hold” and an average price target of $100.71.

Insider Activity at Altair Engineering

In other Altair Engineering news, major shareholder Christ Revocable Trust sold 100,000 shares of Altair Engineering stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $106.57, for a total value of $10,657,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Ravi Kunju sold 360 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $103.65, for a total transaction of $37,314.00. Following the transaction, the insider now owns 30,305 shares in the company, valued at approximately $3,141,113.25. This trade represents a 1.17 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 343,044 shares of company stock valued at $33,980,921. Insiders own 21.75% of the company’s stock.

Altair Engineering Trading Down 0.4 %

Shares of NASDAQ:ALTR opened at $105.40 on Wednesday. The firm has a fifty day moving average of $99.54 and a two-hundred day moving average of $94.09. 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 12-month low of $70.07 and a 12-month high of $113.12. The firm has a market capitalization of $8.97 billion, a P/E ratio of 277.37, a price-to-earnings-growth ratio of 12.09 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.