Altair Engineering Inc. (NASDAQ:ALTR) Stock Holdings Increased by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System boosted its position in Altair Engineering Inc. (NASDAQ:ALTR) by 0.6% in the 4th quarter, Holdings Channel reports. The institutional investor owned 16,600 shares of the software’s stock after buying an additional 100 shares during the period. Louisiana State Employees Retirement System’s holdings in Altair Engineering were worth $1,811,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ALTR. Sanctuary Advisors LLC bought a new stake in Altair Engineering in the second quarter valued at about $293,000. Creative Planning increased its holdings in Altair Engineering by 5.9% in the third quarter. Creative Planning now owns 11,279 shares of the software’s stock valued at $1,077,000 after buying an additional 631 shares during the last quarter. nVerses Capital LLC bought a new stake in Altair Engineering in the third quarter valued at about $334,000. Blue Trust Inc. increased its holdings in Altair Engineering by 572.1% in the third quarter. Blue Trust Inc. now owns 289 shares of the software’s stock valued at $28,000 after buying an additional 246 shares during the last quarter. Finally, Private Advisor Group LLC bought a new stake in Altair Engineering in the third quarter valued at about $208,000. 63.38% of the stock is owned by institutional investors.

Altair Engineering Stock Performance

ALTR opened at $110.85 on Friday. The company has a market capitalization of $9.43 billion, a price-to-earnings ratio of 291.72, a price-to-earnings-growth ratio of 10.62 and a beta of 1.42. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.27 and a quick ratio of 3.27. Altair Engineering Inc. has a 1-year low of $75.71 and a 1-year high of $113.12. The business has a 50 day moving average price of $109.39 and a two-hundred day moving average price of $100.58.

Insiders Place Their Bets

In other Altair Engineering news, major shareholder Jrs Investments Llc sold 6,500 shares of the company’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $105.69, for a total value of $686,985.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Matthew Charles Brown sold 1,048 shares of the company’s stock in a transaction on Monday, December 23rd. The shares were sold at an average price of $108.90, for a total value of $114,127.20. Following the completion of the transaction, the chief financial officer now directly owns 55,519 shares in the company, valued at $6,046,019.10. This represents a 1.85 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 59,143 shares of company stock worth $6,265,694 over the last ninety days. Company insiders own 21.75% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on ALTR. Wolfe Research lowered Altair Engineering from a “strong-buy” rating to a “hold” rating in a report on Sunday, November 3rd. Royal Bank of Canada lifted their target price on Altair Engineering from $90.00 to $113.00 and gave the company a “sector perform” rating in a research note on Thursday, October 31st. Needham & Company LLC restated a “hold” rating and issued a $100.00 target price on shares of Altair Engineering in a research note on Thursday, October 31st. Rosenblatt Securities lifted their target price on Altair Engineering from $88.00 to $113.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, Loop Capital restated a “hold” rating and issued a $113.00 target price 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.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $100.71.

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.