Altair Engineering Inc. (NASDAQ:ALTR) Position Lowered by Hilltop National Bank

Hilltop National Bank decreased its stake in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 22.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 815 shares of the software’s stock after selling 235 shares during the period. Hilltop National Bank’s holdings in Altair Engineering were worth $89,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of the stock. GAMMA Investing LLC lifted its position in shares of Altair Engineering by 14.6% during the fourth quarter. GAMMA Investing LLC now owns 729 shares of the software’s stock worth $80,000 after purchasing an additional 93 shares during the last quarter. New York State Teachers Retirement System lifted its position in shares of Altair Engineering by 1.2% during the third quarter. New York State Teachers Retirement System now owns 8,500 shares of the software’s stock worth $812,000 after purchasing an additional 100 shares during the last quarter. ProShare Advisors LLC lifted its position in shares of Altair Engineering by 1.6% during the second quarter. ProShare Advisors LLC now owns 10,219 shares of the software’s stock worth $1,002,000 after purchasing an additional 160 shares during the last quarter. Ballentine Partners LLC lifted its position in shares of Altair Engineering by 8.5% during the third quarter. Ballentine Partners LLC now owns 2,236 shares of the software’s stock worth $214,000 after purchasing an additional 175 shares during the last quarter. Finally, Thrivent Financial for Lutherans lifted its position in shares of Altair Engineering by 1.5% during the third quarter. Thrivent Financial for Lutherans now owns 13,961 shares of the software’s stock worth $1,333,000 after purchasing an additional 201 shares during the last quarter. Institutional investors own 63.38% of the company’s stock.

Wall Street Analysts Forecast Growth

ALTR has been the topic of a number of recent research reports. Wolfe Research cut shares of Altair Engineering from a “strong-buy” rating to a “hold” rating in a report on Sunday, November 3rd. William Blair reissued a “market perform” rating on shares of Altair Engineering in a report on Thursday, October 31st. Needham & Company LLC reissued a “hold” rating and issued a $100.00 target price on shares of Altair Engineering in a report on Thursday, October 31st. Loop Capital reissued a “hold” rating and issued a $113.00 target price on shares of Altair Engineering in a report on Thursday, October 31st. Finally, Royal Bank of Canada raised their price target on shares of Altair Engineering from $90.00 to $113.00 and gave the company 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. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $100.71.

Insider Activity at Altair Engineering

In related news, 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 transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Matthew Charles Brown sold 1,048 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $108.90, for a total transaction of $114,127.20. Following the sale, the chief financial officer now owns 55,519 shares of the company’s stock, valued at $6,046,019.10. The trade was a 1.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 183,623 shares of company stock worth $19,422,328 over the last quarter. 21.75% of the stock is currently owned by company insiders.

Altair Engineering Price Performance

NASDAQ ALTR opened at $110.25 on Friday. Altair Engineering Inc. has a 12 month low of $75.71 and a 12 month high of $113.12. 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 firm has a market capitalization of $9.38 billion, a PE ratio of 290.14, a P/E/G ratio of 12.16 and a beta of 1.42. The company’s 50 day simple moving average is $106.42 and its 200 day simple moving average is $97.74.

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.