Altair Engineering Inc. (NASDAQ:ALTR - Get Free Report)'s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $97.45 and traded as high as $110.07. Altair Engineering shares last traded at $109.91, with a volume of 603,653 shares changing hands.
Analyst Upgrades and Downgrades
ALTR has been the subject of several recent research reports. Royal Bank of Canada increased 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. Wolfe Research downgraded Altair Engineering from a "strong-buy" rating to a "hold" rating in a 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 stock a "neutral" rating in a report on Thursday, October 31st. Needham & Company LLC reiterated a "hold" rating and issued a $100.00 price target on shares of Altair Engineering in a research note on Thursday, October 31st. Finally, Loop Capital restated a "hold" rating and set a $113.00 price objective on shares of Altair Engineering in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. According to MarketBeat, Altair Engineering currently has an average rating of "Hold" and a consensus price target of $100.71.
Read Our Latest Analysis on ALTR
Altair Engineering Price Performance
The company's 50-day moving average is $106.26 and its 200-day moving average is $97.56. The firm has a market cap of $9.36 billion, a price-to-earnings ratio of 289.59, a price-to-earnings-growth ratio of 12.16 and a beta of 1.42. The company has a current ratio of 3.27, a quick ratio of 3.27 and a debt-to-equity ratio of 0.27.
Insider Buying and Selling at Altair Engineering
In other Altair Engineering news, major shareholder George J. Christ sold 49,952 shares of the company's stock in a transaction that occurred 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 in the company, valued at approximately $9,572,000. This represents a 33.31 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder Christ Revocable Trust sold 100,000 shares of the stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $106.57, for a total value of $10,657,000.00. The disclosure for this sale can be found here. Insiders have sold 331,399 shares of company stock worth $33,519,513 over the last quarter. Corporate insiders own 21.75% of the company's stock.
Institutional Trading of Altair Engineering
Several institutional investors have recently added to or reduced their stakes in ALTR. GAMMA Investing LLC raised its holdings in Altair Engineering by 14.6% during the 4th quarter. GAMMA Investing LLC now owns 729 shares of the software's stock worth $80,000 after purchasing an additional 93 shares during the last quarter. Retirement Systems of Alabama raised its stake in Altair Engineering by 2.7% during the third quarter. Retirement Systems of Alabama now owns 72,191 shares of the software's stock worth $6,895,000 after buying an additional 1,904 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its holdings in Altair Engineering by 30.4% in the third quarter. Teachers Retirement System of The State of Kentucky now owns 34,242 shares of the software's stock valued at $3,270,000 after buying an additional 7,981 shares during the period. Geode Capital Management LLC grew its holdings in Altair Engineering by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,423,880 shares of the software's stock worth $136,020,000 after acquiring an additional 53,088 shares during the period. Finally, MML Investors Services LLC grew its holdings in Altair Engineering by 12.4% during the 3rd quarter. MML Investors Services LLC now owns 6,007 shares of the software's stock worth $574,000 after acquiring an additional 665 shares during the period. 63.38% of the stock is currently owned by institutional investors.
Altair Engineering Company Profile
(
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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