5,099 Shares in Altair Engineering Inc. (NASDAQ:ALTR) Bought by Versor Investments LP

Versor Investments LP bought a new stake in Altair Engineering Inc. (NASDAQ:ALTR) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 5,099 shares of the software’s stock, valued at approximately $487,000.

A number of other large investors have also added to or reduced their stakes in ALTR. William Blair Investment Management LLC purchased a new position in Altair Engineering during the 2nd quarter worth $91,589,000. Bank of New York Mellon Corp increased its holdings in shares of Altair Engineering by 121.7% during the second quarter. Bank of New York Mellon Corp now owns 569,109 shares of the software’s stock valued at $55,818,000 after acquiring an additional 312,448 shares in the last quarter. Jane Street Group LLC boosted its stake in Altair Engineering by 960.2% in the 1st quarter. Jane Street Group LLC now owns 303,672 shares of the software’s stock worth $26,161,000 after purchasing an additional 275,030 shares in the last quarter. Matrix Capital Management Company LP grew its position in Altair Engineering by 1.6% during 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 purchasing an additional 196,826 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in Altair Engineering by 772.7% during the 2nd quarter. Principal Financial Group Inc. now owns 212,560 shares of the software’s stock valued at $20,848,000 after purchasing an additional 188,203 shares in the last quarter. 63.38% of the stock is currently owned by institutional investors.

Altair Engineering Price Performance

Shares of NASDAQ ALTR opened at $103.72 on Friday. 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 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. Altair Engineering Inc. has a one year low of $68.87 and a one year high of $113.12. The firm has a fifty day moving average of $97.02 and a 200 day moving average of $92.89.

Insider Buying and Selling

In other news, 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 completion of the sale, the insider now directly owns 30,305 shares in the company, valued at $3,141,113.25. This represents a 1.17 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Teresa A. Harris sold 620 shares of Altair Engineering stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $89.70, for a total value of $55,614.00. Following the transaction, the director now owns 21,242 shares in the company, valued at approximately $1,905,407.40. The trade was a 2.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 362,544 shares of company stock worth $35,717,201 in the last 90 days. Insiders own 21.75% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. The Goldman Sachs Group downgraded shares of Altair Engineering from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $85.00 to $71.00 in a research note on Friday, August 2nd. William Blair reissued a “market perform” rating on shares of Altair Engineering in a report on Thursday, October 31st. Loop Capital reaffirmed a “hold” rating and set a $113.00 target price on shares of Altair Engineering in a report on Thursday, October 31st. Rosenblatt Securities increased their price target on shares of Altair Engineering from $88.00 to $113.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, Wolfe Research cut shares of Altair Engineering from a “strong-buy” rating to a “hold” rating in a research note on Sunday, November 3rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price 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.