Altair Engineering Inc. (NASDAQ:ALTR) Shares Acquired by Geode Capital Management LLC

Geode Capital Management LLC increased its position in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 3.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,423,880 shares of the software’s stock after acquiring an additional 53,088 shares during the quarter. Geode Capital Management LLC owned approximately 1.67% of Altair Engineering worth $136,020,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Blue Trust Inc. raised its stake in Altair Engineering by 572.1% during the third quarter. Blue Trust Inc. now owns 289 shares of the software’s stock worth $28,000 after purchasing an additional 246 shares during the period. GAMMA Investing LLC lifted its holdings in Altair Engineering by 52.2% in the third quarter. GAMMA Investing LLC now owns 636 shares of the software’s stock valued at $61,000 after acquiring an additional 218 shares during the last quarter. Van ECK Associates Corp increased its stake in Altair Engineering by 41.7% during the second quarter. Van ECK Associates Corp now owns 1,057 shares of the software’s stock worth $104,000 after acquiring an additional 311 shares during the last quarter. KBC Group NV raised its position in Altair Engineering by 17.9% in the third quarter. KBC Group NV now owns 1,640 shares of the software’s stock valued at $157,000 after purchasing an additional 249 shares during the period. Finally, Ballentine Partners LLC acquired a new position in shares of Altair Engineering in the 2nd quarter valued at $202,000. Hedge funds and other institutional investors own 63.38% of the company’s stock.

Insider Activity at Altair Engineering

In related news, CRO Nelson Dias sold 22,500 shares of the company’s stock in a transaction that occurred on 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 sale, the executive now directly owns 48,437 shares in the company, valued at approximately $5,145,462.51. This represents a 31.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Christ Revocable Trust sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The shares were sold at an average price of $106.57, for a total transaction of $10,657,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 400,519 shares of company stock worth $40,076,873. Company insiders own 21.75% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Needham & Company LLC restated a “hold” rating and issued a $100.00 price objective on shares of Altair Engineering in a report on Thursday, October 31st. Rosenblatt Securities increased their price objective on shares of Altair Engineering from $88.00 to $113.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Wolfe Research lowered Altair Engineering from a “strong-buy” rating to a “hold” rating in a research report on Sunday, November 3rd. Royal Bank of Canada upped their price target on Altair Engineering from $90.00 to $113.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 31st. Finally, William Blair reaffirmed a “market perform” rating on shares of Altair Engineering in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $100.71.

Altair Engineering Stock Performance

NASDAQ:ALTR opened at $106.78 on Tuesday. Altair Engineering Inc. has a 52 week low of $73.33 and a 52 week high of $113.12. The company has a fifty day simple moving average of $103.09 and a two-hundred day simple moving average of $95.78. 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 company has a market cap of $9.08 billion, a price-to-earnings ratio of 281.00, a price-to-earnings-growth ratio of 12.16 and a beta of 1.44.

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.