GraniteShares Advisors LLC Trims Stake in Bentley Systems, Incorporated (NASDAQ:BSY)

GraniteShares Advisors LLC reduced its position in Bentley Systems, Incorporated (NASDAQ:BSY) by 19.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,017 shares of the company’s stock after selling 1,700 shares during the quarter. GraniteShares Advisors LLC’s holdings in Bentley Systems were worth $328,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Point72 Hong Kong Ltd purchased a new position in shares of Bentley Systems during the third quarter worth approximately $30,000. Tobam purchased a new position in shares of Bentley Systems during the fourth quarter worth approximately $55,000. Anchor Investment Management LLC purchased a new position in shares of Bentley Systems during the third quarter worth approximately $110,000. IFP Advisors Inc increased its position in shares of Bentley Systems by 4,627.3% during the fourth quarter. IFP Advisors Inc now owns 4,680 shares of the company’s stock worth $220,000 after acquiring an additional 4,581 shares during the period. Finally, Quest Partners LLC purchased a new position in shares of Bentley Systems during the third quarter worth approximately $221,000. 44.16% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on BSY shares. JPMorgan Chase & Co. started coverage on shares of Bentley Systems in a research report on Monday, December 9th. They set a “neutral” rating and a $52.00 target price on the stock. Rosenblatt Securities reissued a “buy” rating and set a $62.00 price objective on shares of Bentley Systems in a report on Tuesday. Finally, Piper Sandler cut their price objective on shares of Bentley Systems from $65.00 to $57.00 and set an “overweight” rating on the stock in a report on Wednesday, January 8th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $57.00.

Insider Buying and Selling at Bentley Systems

In other Bentley Systems news, Director Keith A. Bentley sold 69,573 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $46.67, for a total value of $3,246,971.91. Following the completion of the sale, the director now directly owns 16,705,028 shares in the company, valued at $779,623,656.76. This trade represents a 0.41 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 21.12% of the stock is owned by insiders.

Bentley Systems Stock Performance

Shares of BSY stock opened at $45.68 on Wednesday. The firm has a market cap of $13.28 billion, a price-to-earnings ratio of 41.15, a PEG ratio of 3.52 and a beta of 1.03. The company’s 50 day moving average is $46.67 and its 200 day moving average is $48.39. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.37. Bentley Systems, Incorporated has a 52-week low of $43.82 and a 52-week high of $57.19.

Bentley Systems Profile

Bentley Systems, Incorporated, together with its subsidiaries, provides infrastructure engineering software solutions in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. The company offers open modeling engineering applications, such as MicroStation, OpenBridge, OpenBuildings, OpenCities, OpenComms, OpenFlows, OpenPlant, OpenRail, OpenRoads, OpenSite, OpenTower, OpenTunnel, OpenUtilities, and OpenWindowPower; and open simulation engineering applications, including ADINA, AutoPIPE, CUBE, DYNAMEQ, EMME, LEGION, Power Line Systems, RAM, SACS, SPIDA, and STAAD; and geoprofessional applications for modeling and simulation of near and deep subsurface conditions, including AGS, Central, GeoStudio, Imago, Leapfrog, MX Deposit, Oasis montaj, OpenGround, and PLAXIS.