Altair Engineering Inc. (NASDAQ:ALTR - Get Free Report) shares saw an uptick in trading volume on Thursday . 380,881 shares changed hands during mid-day trading, a decline of 36% from the previous session's volume of 592,099 shares.The stock last traded at $107.35 and had previously closed at $105.66.
Analyst Ratings Changes
A number of equities research analysts have weighed in on the stock. Needham & Company LLC reiterated a "hold" rating and set a $100.00 price target on shares of Altair Engineering in a research report on Thursday, October 31st. Royal Bank of Canada lifted their target price on shares of Altair Engineering from $90.00 to $113.00 and gave the company a "sector perform" rating in a report on Thursday, October 31st. Loop Capital reissued a "hold" rating and issued a $113.00 target price on shares of Altair Engineering in a research report on Thursday, October 31st. William Blair restated a "market perform" rating on shares of Altair Engineering in a research 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. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $100.71.
Read Our Latest Analysis on ALTR
Altair Engineering Stock Up 1.9 %
The firm has a market cap of $9.16 billion, a PE ratio of 283.35, a price-to-earnings-growth ratio of 12.16 and a beta of 1.44. The company has a quick ratio of 3.27, a current ratio of 3.27 and a debt-to-equity ratio of 0.27. The business has a 50-day moving average price of $103.53 and a two-hundred day moving average price of $95.98.
Insiders Place Their Bets
In related news, CEO James Ralph Scapa sold 13,000 shares of the business's stock in a transaction on Monday, September 30th. The shares were sold at an average price of $95.10, for a total transaction of $1,236,300.00. Following the completion of the transaction, the chief executive officer now owns 134,045 shares in the company, valued at approximately $12,747,679.50. The trade was a 8.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder Christ Revocable Trust sold 50,048 shares of the firm's stock in a transaction on Friday, September 27th. The shares were sold at an average price of $95.07, for a total value of $4,758,063.36. Following the completion of the sale, the insider now owns 149,952 shares in the company, valued at approximately $14,255,936.64. This represents a 25.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 400,519 shares of company stock worth $40,076,873 in the last quarter. 21.75% of the stock is owned by company insiders.
Institutional Investors Weigh In On Altair Engineering
Hedge funds and other institutional investors have recently made changes to their positions in the business. GAMMA Investing LLC boosted its holdings in Altair Engineering by 52.2% in the third quarter. GAMMA Investing LLC now owns 636 shares of the software's stock valued at $61,000 after purchasing an additional 218 shares in the last quarter. Moody Aldrich Partners LLC boosted its holdings in shares of Altair Engineering by 15.2% in the 3rd quarter. Moody Aldrich Partners LLC now owns 75,233 shares of the software's stock valued at $7,186,000 after buying an additional 9,907 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in shares of Altair Engineering by 27.0% in the 3rd quarter. Fisher Asset Management LLC now owns 401,612 shares of the software's stock valued at $38,358,000 after buying an additional 85,303 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of Altair Engineering by 8.9% in the 2nd quarter. Envestnet Asset Management Inc. now owns 85,065 shares of the software's stock valued at $8,343,000 after buying an additional 6,956 shares during the last quarter. Finally, Amalgamated Bank raised its stake in Altair Engineering by 1,378.0% during the 2nd quarter. Amalgamated Bank now owns 27,594 shares of the software's stock worth $2,706,000 after acquiring an additional 25,727 shares in the last quarter. Institutional investors and hedge funds own 63.38% of the company's stock.
About Altair Engineering
(
Get Free Report)
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.
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