Altair Engineering (NASDAQ:ALTR) Earns “Hold” Rating from Needham & Company LLC

Altair Engineering (NASDAQ:ALTR)‘s stock had its “hold” rating reissued by equities researchers at Needham & Company LLC in a report released on Thursday, Benzinga reports. They presently have a $100.00 target price on the software’s stock. Needham & Company LLC’s target price indicates a potential downside of 3.85% from the stock’s previous close.

Other research analysts have also issued reports about the stock. The Goldman Sachs Group lowered shares of Altair Engineering from a “neutral” rating to a “sell” rating and decreased their price target for the company from $85.00 to $71.00 in a research note on Friday, August 2nd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $90.00 price target on shares of Altair Engineering in a research note on Wednesday, October 23rd. Loop Capital reissued a “hold” rating and issued a $113.00 target price on shares of Altair Engineering in a research note on Thursday. William Blair reissued a “market perform” rating on shares of Altair Engineering in a research note on Thursday. Finally, Rosenblatt Securities raised 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. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $100.71.

Altair Engineering Trading Up 0.0 %

ALTR stock opened at $104.00 on Thursday. The company’s 50-day simple moving average is $94.30 and its 200-day simple moving average is $91.54. The company has a quick ratio of 3.14, a current ratio of 3.14 and a debt-to-equity ratio of 0.29. Altair Engineering has a 52-week low of $57.59 and a 52-week high of $113.12. The firm has a market cap of $8.83 billion, a P/E ratio of 273.68, a PEG ratio of 13.87 and a beta of 1.45.

Altair Engineering (NASDAQ:ALTR) last posted its earnings results on Wednesday, October 30th. The software reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.07. Altair Engineering had a net margin of 5.10% and a return on equity of 7.70%. The business had revenue of $151.45 million for the quarter, compared to analyst estimates of $146.55 million. As a group, equities analysts forecast that Altair Engineering will post 0.65 EPS for the current fiscal year.

Insider Activity at Altair Engineering

In other Altair Engineering news, major shareholder Jrs Investments Llc sold 6,500 shares of the firm’s 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 $666,835.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Altair Engineering news, CEO James Ralph Scapa sold 13,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $89.04, for a total value of $1,157,520.00. Following the completion of the transaction, the chief executive officer now owns 134,045 shares of the company’s stock, valued at $11,935,366.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Jrs Investments Llc sold 6,500 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $102.59, for a total transaction of $666,835.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 360,360 shares of company stock worth $35,476,660. Insiders own 21.75% of the company’s stock.

Hedge Funds Weigh In On Altair Engineering

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ALTR. Principal Financial Group Inc. lifted its position in shares of Altair Engineering by 288.6% during the 1st quarter. Principal Financial Group Inc. now owns 24,357 shares of the software’s stock worth $2,098,000 after purchasing an additional 18,089 shares during the last quarter. Daiwa Securities Group Inc. purchased a new stake in shares of Altair Engineering during the 1st quarter worth $1,465,000. GSA Capital Partners LLP lifted its position in shares of Altair Engineering by 355.9% during the 1st quarter. GSA Capital Partners LLP now owns 24,852 shares of the software’s stock worth $2,141,000 after purchasing an additional 19,401 shares during the last quarter. SG Americas Securities LLC purchased a new stake in shares of Altair Engineering during the 1st quarter worth $177,000. Finally, Swiss National Bank lifted its position in shares of Altair Engineering by 1.2% during the 1st quarter. Swiss National Bank now owns 107,800 shares of the software’s stock worth $9,287,000 after purchasing an additional 1,300 shares during the last quarter. Hedge funds and other institutional investors own 63.38% 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 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.