Altair Engineering Inc. (NASDAQ:ALTR) Shares Purchased by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. raised its stake in shares of Altair Engineering Inc. (NASDAQ:ALTR - Free Report) by 44.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 24,500 shares of the software's stock after purchasing an additional 7,500 shares during the period. Daiwa Securities Group Inc.'s holdings in Altair Engineering were worth $2,340,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Jane Street Group LLC increased its stake in shares of Altair Engineering by 960.2% in the first quarter. Jane Street Group LLC now owns 303,672 shares of the software's stock worth $26,161,000 after purchasing an additional 275,030 shares in the last quarter. GAMMA Investing LLC increased its stake in Altair Engineering by 81.7% in the 2nd quarter. GAMMA Investing LLC now owns 418 shares of the software's stock worth $41,000 after buying an additional 188 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in Altair Engineering by 9.2% during the second quarter. Harbor Capital Advisors Inc. now owns 9,738 shares of the software's stock valued at $955,000 after acquiring an additional 817 shares during the period. CWM LLC lifted its position in shares of Altair Engineering by 169.4% in the second quarter. CWM LLC now owns 11,536 shares of the software's stock valued at $1,131,000 after acquiring an additional 7,254 shares in the last quarter. Finally, PFW Advisors LLC bought a new position in shares of Altair Engineering in the second quarter worth about $204,000. Institutional investors own 63.38% of the company's stock.

Insider Activity at Altair Engineering

In other Altair Engineering news, Director Teresa A. Harris sold 620 shares of the firm's stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $89.70, for a total value of $55,614.00. Following the completion of the sale, the director now directly owns 21,242 shares in the company, valued at $1,905,407.40. This trade represents a 2.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO James Ralph Scapa sold 13,000 shares of the company's stock in a transaction on Monday, September 30th. The stock was sold at an average price of $95.10, for a total value of $1,236,300.00. Following the transaction, the chief executive officer now directly 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 disclosure for this sale can be found here. Insiders have sold a total of 343,044 shares of company stock valued at $33,980,921 over the last ninety days. 21.75% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

ALTR has been the topic of several recent analyst reports. Loop Capital reissued a "hold" rating and set a $113.00 target price on shares of Altair Engineering in a research note on Thursday, October 31st. Needham & Company LLC reissued a "hold" rating and issued a $100.00 price objective on shares of Altair Engineering in a research note on Thursday, October 31st. The Goldman Sachs Group cut shares of Altair Engineering from a "neutral" rating to a "sell" rating and decreased their target price for the company from $85.00 to $71.00 in a research report on Friday, August 2nd. Royal Bank of Canada lifted their price target on Altair Engineering from $90.00 to $113.00 and gave the stock a "sector perform" rating in a research report on Thursday, October 31st. Finally, William Blair reissued a "market perform" rating on shares of Altair Engineering in a research note on Thursday, October 31st. One research 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.com, the company currently has an average rating of "Hold" and a consensus price target of $100.71.

Altair Engineering Stock Up 0.2 %

Shares of ALTR stock traded up $0.19 on Friday, hitting $105.61. The stock had a trading volume of 285,644 shares, compared to its average volume of 587,791. The company has a quick ratio of 3.27, a current ratio of 3.27 and a debt-to-equity ratio of 0.27. Altair Engineering Inc. has a one year low of $70.07 and a one year high of $113.12. The business has a 50 day moving average price of $100.26 and a 200 day moving average price of $94.38. The company has a market cap of $8.99 billion, a PE ratio of 278.30, a P/E/G ratio of 12.12 and a beta of 1.44.

Altair Engineering 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.