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

Altair Engineering Inc. (NASDAQ:ALTR) has earned a consensus recommendation of “Hold” from the nine analysts that are covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, seven have given a hold recommendation and one has given a buy recommendation to the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $100.71.

A number of brokerages have issued reports on ALTR. Loop Capital reaffirmed a “hold” rating and issued a $113.00 target price on shares of Altair Engineering in a report on Thursday, October 31st. The Goldman Sachs Group lowered shares of Altair Engineering from a “neutral” rating to a “sell” rating and dropped their price objective for the company from $85.00 to $71.00 in a report on Friday, August 2nd. William Blair reissued a “market perform” rating on shares of Altair Engineering in a report on Thursday, October 31st. Wolfe Research lowered shares of Altair Engineering from a “strong-buy” rating to a “hold” rating in a report on Sunday, November 3rd. Finally, Needham & Company LLC restated a “hold” rating and issued a $100.00 price objective on shares of Altair Engineering in a report on Thursday, October 31st.

Altair Engineering Stock Performance

NASDAQ ALTR opened at $103.72 on Friday. Altair Engineering has a fifty-two week low of $68.87 and a fifty-two week high of $113.12. The stock has a market cap of $8.82 billion, a PE ratio of 272.95, a PEG ratio of 11.95 and a beta of 1.44. The company has a debt-to-equity ratio of 0.27, a quick ratio of 3.27 and a current ratio of 3.27. The firm’s fifty day moving average price is $97.02 and its two-hundred day moving average price is $92.89.

Insider Transactions at Altair Engineering

In other news, major shareholder Jrs Investments Llc sold 6,500 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $89.04, for a total value of $578,760.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Ravi Kunju sold 360 shares of the company’s stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $103.65, for a total value of $37,314.00. Following the transaction, the insider now directly owns 30,305 shares in the company, valued at approximately $3,141,113.25. This trade represents a 1.17 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 362,544 shares of company stock valued at $35,717,201. Corporate insiders own 21.75% of the company’s stock.

Institutional Trading of Altair Engineering

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Matrix Capital Management Company LP grew its stake in shares of Altair Engineering by 1.6% in the 1st quarter. Matrix Capital Management Company LP now owns 12,430,000 shares of the software’s stock worth $1,070,844,000 after acquiring an additional 196,826 shares in the last quarter. Vanguard Group Inc. increased its stake in Altair Engineering by 3.2% in the 1st quarter. Vanguard Group Inc. now owns 5,944,285 shares of the software’s stock valued at $512,100,000 after buying an additional 182,840 shares during the last quarter. Conestoga Capital Advisors LLC increased its stake in Altair Engineering by 1.4% in the 3rd quarter. Conestoga Capital Advisors LLC now owns 2,522,551 shares of the software’s stock valued at $240,929,000 after buying an additional 33,985 shares during the last quarter. William Blair Investment Management LLC bought a new position in shares of Altair Engineering during the 2nd quarter worth approximately $91,589,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of Altair Engineering by 121.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 569,109 shares of the software’s stock worth $55,818,000 after buying an additional 312,448 shares during the last quarter. Institutional investors own 63.38% of the company’s stock.

About Altair Engineering

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.