Altair Engineering Inc. (NASDAQ:ALTR) Shares Purchased by State Street Corp

State Street Corp boosted its position in shares of Altair Engineering Inc. (NASDAQ:ALTR - Free Report) by 3.3% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 2,053,957 shares of the software's stock after acquiring an additional 65,589 shares during the quarter. State Street Corp owned about 2.41% of Altair Engineering worth $196,173,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of ALTR. Blue Trust Inc. raised its holdings in shares of Altair Engineering by 572.1% during the third quarter. Blue Trust Inc. now owns 289 shares of the software's stock worth $28,000 after purchasing an additional 246 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Altair Engineering by 52.2% during the 3rd quarter. GAMMA Investing LLC now owns 636 shares of the software's stock valued at $61,000 after buying an additional 218 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Altair Engineering by 41.7% in the 2nd quarter. Van ECK Associates Corp now owns 1,057 shares of the software's stock valued at $104,000 after buying an additional 311 shares during the period. KBC Group NV grew its holdings in Altair Engineering by 17.9% during the third quarter. KBC Group NV now owns 1,640 shares of the software's stock worth $157,000 after acquiring an additional 249 shares during the period. Finally, Ballentine Partners LLC purchased a new position in Altair Engineering during the second quarter valued at approximately $202,000. 63.38% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Altair Engineering

In related news, CRO Nelson Dias sold 22,500 shares of Altair Engineering stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $106.23, for a total value of $2,390,175.00. Following the completion of the sale, the executive now owns 48,437 shares in the company, valued at approximately $5,145,462.51. This trade represents a 31.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Christ Revocable Trust sold 100,000 shares of the firm's stock in a transaction on Wednesday, October 23rd. The stock was 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. In the last quarter, insiders sold 400,519 shares of company stock worth $40,076,873. Insiders own 21.75% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on ALTR shares. William Blair reaffirmed a "market perform" rating on shares of Altair Engineering in a research note on Thursday, October 31st. Royal Bank of Canada raised their price target 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. 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 research report on Thursday, October 31st. Loop Capital restated a "hold" rating and set a $113.00 target price on shares of Altair Engineering in a research report on Thursday, October 31st. Finally, Wolfe Research lowered Altair Engineering from a "strong-buy" rating to a "hold" rating in a research note on Sunday, November 3rd. One research analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $100.71.

Altair Engineering Price Performance

NASDAQ:ALTR traded down $0.09 during trading hours on Friday, hitting $106.06. 228,157 shares of the stock were exchanged, compared to its average volume of 589,398. The company has a market cap of $9.02 billion, a P/E ratio of 279.35, a P/E/G ratio of 12.16 and a beta of 1.44. The firm's fifty day moving average price is $102.60 and its 200 day moving average price is $95.48. Altair Engineering Inc. has a 52-week low of $73.21 and a 52-week high of $113.12. The company has a current ratio of 3.27, a quick ratio of 3.27 and a debt-to-equity ratio of 0.27.

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.