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

Shares of Altair Engineering Inc. (NASDAQ:ALTR) have received an average recommendation of “Hold” from the nine ratings firms that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $100.71.

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

Insider Buying and Selling at Altair Engineering

In related news, major shareholder George J. Christ sold 97,824 shares of the business’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $95.23, for a total transaction of $9,315,779.52. Following the completion of the transaction, the insider now owns 302,176 shares in the company, valued at $28,776,220.48. The trade was a 24.46 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Christ Revocable Trust sold 100,000 shares of the company’s 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 sold 331,399 shares of company stock worth $33,519,513 over the last 90 days. Company insiders own 21.75% of the company’s stock.

Institutional Investors Weigh In On Altair Engineering

Large investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. raised its stake in shares of Altair Engineering by 572.1% during the third quarter. Blue Trust Inc. now owns 289 shares of the software’s stock valued at $28,000 after acquiring an additional 246 shares in the last quarter. GAMMA Investing LLC grew its position in shares of Altair Engineering by 52.2% during the 3rd quarter. GAMMA Investing LLC now owns 636 shares of the software’s stock worth $61,000 after buying an additional 218 shares in the last quarter. Van ECK Associates Corp increased its stake in shares of 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 buying an additional 311 shares during the period. KBC Group NV raised its holdings in shares of Altair Engineering by 17.9% in the third quarter. KBC Group NV now owns 1,640 shares of the software’s stock valued at $157,000 after acquiring an additional 249 shares in the last quarter. Finally, Ballentine Partners LLC purchased a new stake in Altair Engineering in the second quarter worth about $202,000. 63.38% of the stock is owned by hedge funds and other institutional investors.

Altair Engineering Trading Up 0.3 %

Shares of ALTR stock opened at $109.65 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. The stock has a market capitalization of $9.33 billion, a price-to-earnings ratio of 288.56, a price-to-earnings-growth ratio of 12.16 and a beta of 1.44. Altair Engineering has a 12-month low of $75.71 and a 12-month high of $113.12. The stock’s 50-day moving average price is $106.12 and its 200-day moving average price is $97.37.

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.