Analysts Set Altair Engineering Inc. (NASDAQ:ALTR) Price Target at $100.71

Altair Engineering Inc. (NASDAQ:ALTR) has been given an average recommendation of “Hold” by the nine research firms that are covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $100.71.

A number of equities analysts have recently issued reports on ALTR shares. Wolfe Research downgraded Altair Engineering from a “strong-buy” rating to a “hold” rating in a research note on Sunday, November 3rd. Rosenblatt Securities boosted their price target on Altair Engineering from $88.00 to $113.00 and gave the company a “neutral” rating in a research note 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 research note on Thursday, October 31st. William Blair reissued a “market perform” rating on shares of Altair Engineering in a research report on Thursday, October 31st. Finally, Loop Capital restated a “hold” rating and issued a $113.00 price target on shares of Altair Engineering in a research report on Thursday, October 31st.

Altair Engineering Trading Up 0.0 %

Shares of ALTR stock opened at $109.11 on Monday. 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 has a 12-month low of $75.71 and a 12-month high of $113.12. The stock has a market capitalization of $9.28 billion, a P/E ratio of 287.14, a P/E/G ratio of 12.16 and a beta of 1.44. The firm’s 50 day moving average is $105.90 and its 200 day moving average is $97.22.

Insider Transactions at Altair Engineering

In other news, major shareholder George J. Christ sold 97,824 shares of the business’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $95.23, for a total value of $9,315,779.52. Following the transaction, the insider now owns 302,176 shares of the company’s stock, valued at approximately $28,776,220.48. The trade was a 24.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Christ Revocable Trust sold 100,000 shares of the firm’s stock in a transaction on Wednesday, October 23rd. The shares were sold at an average price of $106.57, for a total transaction of $10,657,000.00. The disclosure for this sale can be found here. Insiders sold a total of 331,399 shares of company stock valued at $33,519,513 over the last 90 days. Company insiders own 21.75% of the company’s stock.

Hedge Funds Weigh In On Altair Engineering

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. raised its holdings in shares of Altair Engineering by 572.1% during the 3rd quarter. Blue Trust Inc. now owns 289 shares of the software’s stock worth $28,000 after acquiring an additional 246 shares in the last quarter. GAMMA Investing LLC raised its stake in Altair Engineering by 52.2% during 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. Van ECK Associates Corp lifted its position in Altair Engineering by 41.7% during the second quarter. Van ECK Associates Corp now owns 1,057 shares of the software’s stock valued at $104,000 after purchasing an additional 311 shares during the last quarter. KBC Group NV grew its stake in shares of Altair Engineering by 17.9% in the 3rd quarter. KBC Group NV now owns 1,640 shares of the software’s stock worth $157,000 after buying an additional 249 shares in the last quarter. Finally, Ballentine Partners LLC bought a new stake in shares of Altair Engineering in the 2nd quarter worth about $202,000. 63.38% of the stock is owned by institutional investors.

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.