Massachusetts Financial Services Co. MA Boosts Holdings in Altair Engineering Inc. (NASDAQ:ALTR)

Massachusetts Financial Services Co. MA lifted its holdings in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 31.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 392,343 shares of the software’s stock after purchasing an additional 94,219 shares during the period. Massachusetts Financial Services Co. MA owned about 0.46% of Altair Engineering worth $37,473,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the business. Intech Investment Management LLC bought a new position in shares of Altair Engineering during the third quarter valued at about $1,084,000. King Luther Capital Management Corp grew its position in Altair Engineering by 5.6% during the 3rd quarter. King Luther Capital Management Corp now owns 174,733 shares of the software’s stock worth $16,689,000 after acquiring an additional 9,310 shares during the last quarter. Quest Partners LLC purchased a new position in Altair Engineering in the 3rd quarter worth approximately $617,000. Thrivent Financial for Lutherans lifted its position in Altair Engineering by 1.5% in the third quarter. Thrivent Financial for Lutherans now owns 13,961 shares of the software’s stock valued at $1,333,000 after purchasing an additional 201 shares during the last quarter. Finally, Zions Bancorporation N.A. lifted its position in Altair Engineering by 17.4% in the third quarter. Zions Bancorporation N.A. now owns 22,493 shares of the software’s stock valued at $2,148,000 after purchasing an additional 3,326 shares during the last quarter. Hedge funds and other institutional investors own 63.38% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Needham & Company LLC reaffirmed a “hold” rating and issued a $100.00 target price on shares of Altair Engineering in a research note on Thursday, October 31st. Royal Bank of Canada boosted their price objective on shares of Altair Engineering from $90.00 to $113.00 and gave the company a “sector perform” rating in a research report on Thursday, October 31st. Wolfe Research lowered shares of Altair Engineering from a “strong-buy” rating to a “hold” rating in a report on Sunday, November 3rd. Loop Capital restated a “hold” rating and set a $113.00 price target on shares of Altair Engineering in a report on Thursday, October 31st. Finally, William Blair reiterated a “market perform” rating on shares of Altair Engineering in a report on Thursday, October 31st. 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 MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $100.71.

Altair Engineering Trading Up 0.8 %

NASDAQ ALTR opened at $105.20 on Monday. Altair Engineering Inc. has a twelve month low of $68.87 and a twelve month high of $113.12. The stock’s 50 day moving average is $99.20 and its 200 day moving average is $93.94. The firm has a market capitalization of $8.95 billion, a PE ratio of 276.85, a P/E/G ratio of 11.99 and a beta of 1.44. The company has a quick ratio of 3.27, a current ratio of 3.27 and a debt-to-equity ratio of 0.27.

Insider Buying and Selling

In other Altair Engineering news, Director Teresa A. Harris sold 620 shares of Altair Engineering stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $89.70, for a total value of $55,614.00. Following the completion of the transaction, the director now directly owns 21,242 shares of the company’s stock, valued at approximately $1,905,407.40. The trade was a 2.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Ravi Kunju sold 360 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $103.65, for a total transaction of $37,314.00. Following the sale, the insider now owns 30,305 shares in the company, valued at approximately $3,141,113.25. The trade was a 1.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 362,544 shares of company stock worth $35,717,201 in the last 90 days. 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.