Conestoga Capital Advisors LLC Decreases Stake in Altair Engineering Inc. (NASDAQ:ALTR)

Conestoga Capital Advisors LLC trimmed its position in Altair Engineering Inc. (NASDAQ:ALTR) by 55.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,112,548 shares of the software’s stock after selling 1,410,003 shares during the period. Altair Engineering comprises about 1.6% of Conestoga Capital Advisors LLC’s portfolio, making the stock its 27th largest holding. Conestoga Capital Advisors LLC’s holdings in Altair Engineering were worth $121,390,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Blue Trust Inc. raised its holdings in Altair Engineering by 572.1% in 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. boosted its holdings in shares of Altair Engineering by 77.0% during the 4th quarter. UMB Bank n.a. now owns 285 shares of the software’s stock worth $31,000 after purchasing an additional 124 shares during the last quarter. GAMMA Investing LLC grew its position in shares of 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 purchasing an additional 218 shares in the last quarter. Van ECK Associates Corp increased its holdings in shares of Altair Engineering by 28.5% in the third quarter. Van ECK Associates Corp now owns 1,358 shares of the software’s stock valued at $130,000 after purchasing an additional 301 shares during the last quarter. Finally, KBC Group NV raised its holdings in shares of Altair Engineering by 17.9% during the 3rd quarter. KBC Group NV now owns 1,640 shares of the software’s stock worth $157,000 after acquiring an additional 249 shares during the period. 63.38% of the stock is currently owned by hedge funds and other institutional investors.

Altair Engineering Stock Down 0.1 %

Altair Engineering stock opened at $110.35 on Monday. 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 fifty-two week low of $75.71 and a fifty-two week high of $113.12. The stock has a 50-day simple moving average of $108.43 and a 200-day simple moving average of $99.15. The company has a market capitalization of $9.39 billion, a P/E ratio of 290.40, a PEG ratio of 10.61 and a beta of 1.42.

Insiders Place Their Bets

In related news, major shareholder Jrs Investments Llc sold 6,500 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $105.69, for a total value of $686,985.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Nelson Dias sold 22,500 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $106.23, for a total value of $2,390,175.00. Following the transaction, the executive now owns 48,437 shares in the company, valued at $5,145,462.51. The trade was a 31.72 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 61,947 shares of company stock valued at $6,557,428. 21.75% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms have recently commented on ALTR. Wolfe Research lowered shares of Altair Engineering from a “strong-buy” rating to a “hold” rating in a research report on Sunday, November 3rd. William Blair restated a “market perform” rating on shares of Altair Engineering in a research note on Thursday, October 31st. Rosenblatt Securities boosted their price target on shares of Altair Engineering from $88.00 to $113.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Royal Bank of Canada raised their price objective on shares of Altair Engineering from $90.00 to $113.00 and gave the company a “sector perform” rating in a report on Thursday, October 31st. Finally, Needham & Company LLC reiterated a “hold” rating and set a $100.00 target price on shares of Altair Engineering in a research note on Thursday, October 31st. One equities 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’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $100.71.

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.