Hardy Reed LLC Sells 300 Shares of Altair Engineering Inc. (NASDAQ:ALTR)

Hardy Reed LLC lessened its holdings in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 11.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,270 shares of the software’s stock after selling 300 shares during the quarter. Hardy Reed LLC’s holdings in Altair Engineering were worth $248,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Blue Trust Inc. boosted its position in shares of Altair Engineering by 572.1% during the 3rd quarter. Blue Trust Inc. now owns 289 shares of the software’s stock valued at $28,000 after acquiring an additional 246 shares during the last quarter. UMB Bank n.a. lifted its position in Altair Engineering by 77.0% in the 4th quarter. UMB Bank n.a. now owns 285 shares of the software’s stock worth $31,000 after buying an additional 124 shares during the last quarter. GAMMA Investing LLC lifted its position in Altair Engineering by 14.6% in the 4th quarter. GAMMA Investing LLC now owns 729 shares of the software’s stock worth $80,000 after buying an additional 93 shares during the last quarter. Van ECK Associates Corp lifted its position in Altair Engineering by 28.5% in the 3rd quarter. Van ECK Associates Corp now owns 1,358 shares of the software’s stock worth $130,000 after buying an additional 301 shares during the last quarter. Finally, KBC Group NV lifted its position in Altair Engineering by 17.9% in the 3rd quarter. KBC Group NV now owns 1,640 shares of the software’s stock worth $157,000 after buying an additional 249 shares during the last quarter. Institutional investors own 63.38% of the company’s stock.

Wall Street Analysts Forecast Growth

ALTR has been the subject of a number of recent research reports. Needham & Company LLC restated a “hold” rating and issued a $100.00 target price on shares of Altair Engineering in a research report on Thursday, October 31st. Rosenblatt Securities boosted their target price on 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 downgraded Altair Engineering from a “strong-buy” rating to a “hold” rating in a research report on Sunday, November 3rd. William Blair reiterated a “market perform” rating on shares of Altair Engineering in a research report on Thursday, October 31st. Finally, Royal Bank of Canada boosted their price objective on Altair Engineering from $90.00 to $113.00 and gave the company a “sector perform” rating in a research report on Thursday, October 31st. 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 company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $100.71.

Insider Activity

In related news, CEO James Ralph Scapa sold 13,000 shares of the company’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $105.69, for a total value of $1,373,970.00. Following the sale, the chief executive officer now directly owns 134,045 shares of the company’s stock, valued at $14,167,216.05. This represents a 8.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Matthew Charles Brown sold 1,048 shares of the company’s stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $108.90, for a total value of $114,127.20. Following the completion of the sale, the chief financial officer now directly owns 55,519 shares in the company, valued at approximately $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. Over the last three months, insiders have sold 59,143 shares of company stock valued at $6,265,694. Company insiders own 21.75% of the company’s stock.

Altair Engineering Price Performance

ALTR opened at $111.25 on Thursday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 3.27 and a current ratio of 3.27. Altair Engineering Inc. has a 52-week low of $75.71 and a 52-week high of $113.12. The stock has a market capitalization of $9.47 billion, a PE ratio of 292.77, a price-to-earnings-growth ratio of 10.66 and a beta of 1.42. The stock’s 50 day moving average price is $109.68 and its 200-day moving average price is $101.12.

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.