5,099 Shares in Altair Engineering Inc. (NASDAQ:ALTR) Purchased by Versor Investments LP

Versor Investments LP acquired a new position in Altair Engineering Inc. (NASDAQ:ALTR - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 5,099 shares of the software's stock, valued at approximately $487,000.

Several other hedge funds have also modified their holdings of ALTR. Blue Trust Inc. increased its position in Altair Engineering by 572.1% during the third 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. GAMMA Investing LLC grew its holdings in Altair Engineering by 81.7% during the 2nd quarter. GAMMA Investing LLC now owns 418 shares of the software's stock valued at $41,000 after purchasing an additional 188 shares during the last quarter. FSC Wealth Advisors LLC raised its position in Altair Engineering by 41.3% in the 2nd quarter. FSC Wealth Advisors LLC now owns 832 shares of the software's stock worth $82,000 after purchasing an additional 243 shares during the period. Van ECK Associates Corp raised its position in Altair Engineering by 41.7% in the 2nd quarter. Van ECK Associates Corp now owns 1,057 shares of the software's stock worth $104,000 after purchasing an additional 311 shares during the period. Finally, SG Americas Securities LLC bought a new stake in Altair Engineering in the first quarter worth about $177,000. 63.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Needham & Company LLC reiterated a "hold" rating and issued a $100.00 price target on shares of Altair Engineering in a 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. Rosenblatt Securities boosted their target price on shares of Altair Engineering from $88.00 to $113.00 and gave the company a "neutral" rating in a research note on Thursday, October 31st. Loop Capital reaffirmed a "hold" rating and issued a $113.00 price target on shares of Altair Engineering in a research note on Thursday, October 31st. Finally, William Blair restated a "market perform" rating on shares of Altair Engineering in a research note on Thursday, October 31st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $100.71.

Insider Activity at Altair Engineering

In other news, major shareholder Jrs Investments Llc sold 6,500 shares of the company's stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $89.04, for a total transaction of $578,760.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO James Ralph Scapa sold 13,000 shares of the firm's stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $89.04, for a total value of $1,157,520.00. Following the completion of the sale, the chief executive officer now directly owns 134,045 shares of the company's stock, valued at $11,935,366.80. The trade was a 8.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 362,544 shares of company stock valued at $35,717,201 over the last ninety days. 21.75% of the stock is owned by company insiders.

Altair Engineering Stock Up 0.1 %

NASDAQ ALTR traded up $0.07 during trading on Friday, reaching $103.79. 906,919 shares of the company's stock traded hands, compared to its average volume of 575,150. Altair Engineering Inc. has a 12-month low of $68.87 and a 12-month high of $113.12. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.27 and a quick ratio of 3.27. The firm has a market cap of $8.83 billion, a price-to-earnings ratio of 272.95, a price-to-earnings-growth ratio of 11.93 and a beta of 1.44. The company's 50 day simple moving average is $97.02 and its two-hundred day simple moving average is $92.89.

About Altair Engineering

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.