Altair Engineering Inc. (NASDAQ:ALTR - Get Free Report) has received an average rating of "Hold" from the nine brokerages that are currently covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and one has assigned a buy recommendation to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $100.71.
ALTR has been the subject of several recent research reports. Royal Bank of Canada lifted their price target on Altair Engineering from $90.00 to $113.00 and gave the company a "sector perform" rating in a research report on Thursday, October 31st. Loop Capital restated a "hold" rating and issued a $113.00 price objective on shares of Altair Engineering in a research report on Thursday, October 31st. Rosenblatt Securities upped their price objective 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. Needham & Company LLC reiterated a "hold" rating and issued a $100.00 price objective on shares of Altair Engineering in a report on Thursday, October 31st. Finally, Wolfe Research downgraded Altair Engineering from a "strong-buy" rating to a "hold" rating in a report on Sunday, November 3rd.
Get Our Latest Research Report on Altair Engineering
Insider Buying and Selling at Altair Engineering
In other Altair Engineering news, major shareholder George J. Christ sold 49,952 shares of Altair Engineering stock in a transaction on Wednesday, October 9th. The shares were sold at an average price of $95.72, for a total value of $4,781,405.44. Following the completion of the transaction, the insider now directly owns 100,000 shares of the company's stock, valued at $9,572,000. This trade represents a 33.31 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Teresa A. Harris sold 620 shares of Altair Engineering stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $95.12, for a total value of $58,974.40. Following the completion of the transaction, the director now owns 21,242 shares of the company's stock, valued at approximately $2,020,539.04. This represents a 2.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 332,019 shares of company stock valued at $33,578,487 in the last 90 days. Insiders own 21.75% of the company's stock.
Institutional Investors Weigh In On Altair Engineering
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. William Blair Investment Management LLC bought a new stake in Altair Engineering during the 2nd quarter valued at $91,589,000. Principal Financial Group Inc. boosted its holdings in Altair Engineering by 772.7% in the second quarter. Principal Financial Group Inc. now owns 212,560 shares of the software's stock valued at $20,848,000 after purchasing an additional 188,203 shares during the last quarter. Great Lakes Advisors LLC acquired a new stake in Altair Engineering during the second quarter worth about $13,343,000. Candriam S.C.A. grew its stake in shares of Altair Engineering by 28.9% during the 2nd quarter. Candriam S.C.A. now owns 560,565 shares of the software's stock worth $54,978,000 after purchasing an additional 125,816 shares during the period. Finally, Rhumbline Advisers grew its position in Altair Engineering by 127.2% during the second quarter. Rhumbline Advisers now owns 178,788 shares of the software's stock valued at $17,536,000 after buying an additional 100,106 shares during the period. Institutional investors own 63.38% of the company's stock.
Altair Engineering Trading Up 0.1 %
Shares of NASDAQ:ALTR traded up $0.09 during midday trading on Monday, hitting $109.10. 435,986 shares of the stock were exchanged, compared to its average volume of 603,014. The business's 50-day moving average price is $105.45 and its 200 day moving average price is $96.96. The stock has a market capitalization of $9.28 billion, a price-to-earnings ratio of 287.11, a P/E/G ratio of 12.16 and a beta of 1.44. Altair Engineering has a 12 month low of $75.71 and a 12 month high of $113.12. The company has a debt-to-equity ratio of 0.27, a quick ratio of 3.27 and a current ratio of 3.27.
About Altair Engineering
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Get Free ReportAltair 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.
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