Altair Engineering Inc. (NASDAQ:ALTR - Get Free Report)'s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $97.45 and traded as high as $110.07. Altair Engineering shares last traded at $109.91, with a volume of 603,653 shares traded.
A number of equities analysts have weighed in on ALTR shares. William Blair reissued a "market perform" rating on shares of Altair Engineering in a research note on Thursday, October 31st. Wolfe Research cut shares of Altair Engineering from a "strong-buy" rating to a "hold" rating in a research report on Sunday, November 3rd. Rosenblatt Securities raised 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. Royal Bank of Canada increased 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 note on Thursday, October 31st. Finally, Loop Capital reiterated a "hold" rating and issued a $113.00 price objective on shares of Altair Engineering in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $100.71.
Check Out Our Latest Stock Report on Altair Engineering
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 company has a market capitalization of $9.35 billion, a price-to-earnings ratio of 289.24, a P/E/G ratio of 12.16 and a beta of 1.42. The firm has a 50-day simple moving average of $106.28 and a two-hundred day simple moving average of $97.45.
In related news, CEO James Ralph Scapa sold 13,000 shares of Altair Engineering stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $102.59, for a total value of $1,333,670.00. Following the completion of the transaction, the chief executive officer now owns 134,045 shares in the company, valued at $13,751,676.55. The trade was a 8.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder George J. Christ sold 49,952 shares of the stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $95.72, for a total transaction of $4,781,405.44. Following the completion of the sale, the insider now directly owns 100,000 shares in the company, valued at approximately $9,572,000. This represents a 33.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 331,399 shares of company stock valued at $33,519,513 in the last ninety days. Company insiders own 21.75% of the company's stock.
Institutional investors and hedge funds have recently modified their holdings of the company. Blue Trust Inc. lifted its holdings in 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 buying an additional 246 shares during the last quarter. GAMMA Investing LLC lifted its stake in Altair Engineering by 52.2% during the third quarter. GAMMA Investing LLC now owns 636 shares of the software's stock worth $61,000 after purchasing an additional 218 shares during the last quarter. Van ECK Associates Corp boosted its holdings in Altair Engineering by 41.7% in 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 in the last quarter. KBC Group NV boosted its holdings in 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 purchasing an additional 249 shares in the last quarter. Finally, Ballentine Partners LLC purchased a new position in Altair Engineering in the second quarter valued at approximately $202,000. Institutional investors and hedge funds own 63.38% of the company's stock.
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.
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