Altair Engineering (NASDAQ:ALTR – Get Free Report) had its price objective raised by stock analysts at Rosenblatt Securities from $70.00 to $74.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the software’s stock. Rosenblatt Securities’ price objective points to a potential upside of 15.99% from the company’s previous close.
Other equities research analysts also recently issued reports about the company. 51job reiterated a “maintains” rating on shares of Altair Engineering in a report on Friday, May 5th. Loop Capital raised their price objective on Altair Engineering from $70.00 to $81.00 and gave the company a “buy” rating in a research note on Tuesday, April 18th. The Goldman Sachs Group upgraded Altair Engineering from a “sell” rating to a “neutral” rating and raised their price objective for the company from $44.00 to $67.00 in a research note on Friday, May 5th. Finally, Needham & Company LLC raised their price objective on Altair Engineering from $70.00 to $77.00 in a research note on Monday, May 8th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $72.57.
Altair Engineering Stock Performance
Shares of NASDAQ:ALTR opened at $63.80 on Friday. The company has a market cap of $5.15 billion, a P/E ratio of -110.00, a PEG ratio of 27.35 and a beta of 1.46. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.83 and a current ratio of 1.83. Altair Engineering has a one year low of $43.17 and a one year high of $78.49. The business’s 50-day simple moving average is $73.97 and its 200 day simple moving average is $68.00.
Insider Transactions at Altair Engineering
In other news, CEO James Ralph Scapa sold 548 shares of Altair Engineering stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $67.40, for a total value of $36,935.20. Following the completion of the transaction, the chief executive officer now owns 112,858 shares in the company, valued at approximately $7,606,629.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, CEO James Ralph Scapa sold 548 shares of the business’s stock in a transaction that occurred on Friday, May 12th. The stock was sold at an average price of $67.40, for a total transaction of $36,935.20. Following the completion of the transaction, the chief executive officer now owns 112,858 shares in the company, valued at approximately $7,606,629.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Jrs Investments Llc sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $67.94, for a total value of $339,700.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 270,608 shares of company stock worth $19,998,751. 22.17% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Fisher Asset Management LLC acquired a new position in Altair Engineering during the 4th quarter valued at approximately $2,733,000. Arizona State Retirement System raised its stake in Altair Engineering by 3.1% during the 1st quarter. Arizona State Retirement System now owns 15,182 shares of the software’s stock valued at $1,095,000 after acquiring an additional 452 shares in the last quarter. Virtu Financial LLC bought a new stake in Altair Engineering during the 1st quarter valued at $345,000. Raymond James Trust N.A. bought a new stake in Altair Engineering during the 1st quarter valued at $218,000. Finally, Matrix Capital Management Company LP raised its stake in Altair Engineering by 5.5% during the 4th quarter. Matrix Capital Management Company LP now owns 10,871,000 shares of the software’s stock valued at $494,304,000 after acquiring an additional 566,000 shares in the last quarter. Institutional investors and hedge funds own 63.70% of the company’s stock.
Altair Engineering Company Profile
Altair Engineering Inc, together with its subsidiaries, provides software and cloud solutions in the areas of simulation, high-performance computing, data analytics, and artificial intelligence in the United States and internationally. The company operates in two segments: Software and Client Engineering Services.
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