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

GraniteShares Advisors LLC trimmed its stake in Bentley Systems, Incorporated (NASDAQ:BSY) by 19.5% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,017 shares of the company’s stock after selling 1,700 shares during the period. GraniteShares Advisors LLC’s holdings in Bentley Systems were worth $328,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of BSY. Swedbank AB increased its stake in shares of Bentley Systems by 24.2% in the 3rd quarter. Swedbank AB now owns 5,134,295 shares of the company’s stock worth $260,874,000 after purchasing an additional 1,000,000 shares in the last quarter. Forsta AP Fonden boosted its holdings in Bentley Systems by 2.0% in the 3rd quarter. Forsta AP Fonden now owns 104,300 shares of the company’s stock worth $5,299,000 after buying an additional 2,000 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in Bentley Systems by 94.8% in the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 11,499 shares of the company’s stock worth $584,000 after buying an additional 5,596 shares during the period. Asahi Life Asset Management CO. LTD. boosted its holdings in Bentley Systems by 20.8% in the 3rd quarter. Asahi Life Asset Management CO. LTD. now owns 7,210 shares of the company’s stock worth $366,000 after buying an additional 1,240 shares during the period. Finally, Diversify Wealth Management LLC boosted its holdings in Bentley Systems by 2.2% in the 3rd quarter. Diversify Wealth Management LLC now owns 20,192 shares of the company’s stock worth $993,000 after buying an additional 428 shares during the period. 44.16% of the stock is currently owned by hedge funds and other institutional investors.

Bentley Systems Stock Down 2.0 %

BSY opened at $45.68 on Wednesday. The firm has a 50-day simple moving average of $46.67 and a two-hundred day simple moving average of $48.39. Bentley Systems, Incorporated has a 52 week low of $43.82 and a 52 week high of $57.19. The company has a market capitalization of $13.28 billion, a PE ratio of 41.15, a price-to-earnings-growth ratio of 3.52 and a beta of 1.03. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 1.37.

Insider Buying and Selling at Bentley Systems

In related news, Director Keith A. Bentley sold 1,152 shares of the stock in a transaction dated Friday, January 24th. The shares were sold at an average price of $46.33, for a total value of $53,372.16. Following the sale, the director now directly owns 16,703,876 shares of the company’s stock, valued at $773,890,575.08. This represents a 0.01 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 21.12% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on BSY. Rosenblatt Securities reaffirmed a “buy” rating and issued a $62.00 target price on shares of Bentley Systems in a report on Tuesday. JPMorgan Chase & Co. began coverage on shares of Bentley Systems in a report on Monday, December 9th. They issued a “neutral” rating and a $52.00 target price for the company. Finally, Piper Sandler dropped their target price on shares of Bentley Systems from $65.00 to $57.00 and set an “overweight” rating for the company in a report on Wednesday, January 8th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $57.00.

About Bentley Systems

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.