31,358 Shares in Altair Engineering Inc. (NASDAQ:ALTR) Bought by ABC Arbitrage SA

ABC Arbitrage SA acquired a new position in Altair Engineering Inc. (NASDAQ:ALTR - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 31,358 shares of the software's stock, valued at approximately $3,421,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ALTR. Blue Trust Inc. boosted its position in Altair Engineering by 185.5% during the 4th quarter. Blue Trust Inc. now owns 825 shares of the software's stock worth $90,000 after acquiring an additional 536 shares during the period. New York State Teachers Retirement System lifted its position in shares of Altair Engineering by 1.2% in the fourth quarter. New York State Teachers Retirement System now owns 8,600 shares of the software's stock worth $938,000 after purchasing an additional 100 shares in the last quarter. Louisiana State Employees Retirement System lifted its position in shares of Altair Engineering by 0.6% in the fourth quarter. Louisiana State Employees Retirement System now owns 16,600 shares of the software's stock worth $1,811,000 after purchasing an additional 100 shares in the last quarter. Retirement Systems of Alabama grew its position in Altair Engineering by 0.7% during the fourth quarter. Retirement Systems of Alabama now owns 72,685 shares of the software's stock valued at $7,931,000 after purchasing an additional 494 shares in the last quarter. Finally, KBC Group NV increased its stake in Altair Engineering by 62.4% in the 4th quarter. KBC Group NV now owns 2,663 shares of the software's stock valued at $291,000 after buying an additional 1,023 shares during the period. 63.38% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Altair Engineering

In related news, CEO James Ralph Scapa sold 16,095 shares of the firm's stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $105.65, for a total value of $1,700,436.75. Following the transaction, the chief executive officer now owns 117,950 shares in the company, valued at $12,461,417.50. This trade represents a 12.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Nelson Dias sold 22,500 shares of the firm's stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $106.23, for a total transaction of $2,390,175.00. Following the completion of the transaction, the executive now directly owns 48,437 shares in the company, valued at approximately $5,145,462.51. The trade was a 31.72 % 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 worth $6,265,694. Corporate insiders own 21.75% of the company's stock.

Altair Engineering Price Performance

Altair Engineering stock traded up $0.12 on Wednesday, reaching $111.25. The company's stock had a trading volume of 786,839 shares, compared to its average volume of 787,414. The business's fifty day moving average price is $109.68 and its 200 day moving average price is $101.12. The company has a debt-to-equity ratio of 0.27, a quick ratio of 3.27 and a current ratio of 3.27. The company has a market cap of $9.47 billion, a price-to-earnings ratio of 292.77, a PEG ratio of 10.66 and a beta of 1.42. Altair Engineering Inc. has a twelve month low of $75.71 and a twelve month high of $113.12.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ALTR. Wolfe Research lowered shares of Altair Engineering from a "strong-buy" rating to a "hold" rating in a research note on Sunday, November 3rd. Loop Capital reissued a "hold" rating and set a $113.00 price objective on shares of Altair Engineering in a research report on Thursday, October 31st. Needham & Company LLC reaffirmed 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 price target on Altair Engineering from $88.00 to $113.00 and gave the company a "neutral" rating in a research note on Thursday, October 31st. Finally, 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 research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $100.71.

Altair Engineering Company 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.