KBC Group NV Buys 1,023 Shares of Altair Engineering Inc. (NASDAQ:ALTR)

KBC Group NV lifted its position in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 62.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,663 shares of the software’s stock after buying an additional 1,023 shares during the quarter. KBC Group NV’s holdings in Altair Engineering were worth $291,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of ALTR. Blue Trust Inc. increased its stake in Altair Engineering by 572.1% in the 3rd quarter. Blue Trust Inc. now owns 289 shares of the software’s stock worth $28,000 after acquiring an additional 246 shares during the last quarter. UMB Bank n.a. raised its holdings in shares of Altair Engineering by 77.0% in the 4th quarter. UMB Bank n.a. now owns 285 shares of the software’s stock valued at $31,000 after purchasing an additional 124 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Altair Engineering by 52.2% during the third quarter. GAMMA Investing LLC now owns 636 shares of the software’s stock valued at $61,000 after buying an additional 218 shares during the last quarter. Van ECK Associates Corp boosted its holdings in Altair Engineering by 28.5% in the third quarter. Van ECK Associates Corp now owns 1,358 shares of the software’s stock worth $130,000 after acquiring an additional 301 shares in the last quarter. Finally, Private Advisor Group LLC acquired a new stake in Altair Engineering during the 3rd quarter worth about $208,000. Institutional investors own 63.38% of the company’s stock.

Altair Engineering Price Performance

Altair Engineering stock opened at $110.20 on Tuesday. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.27 and a quick ratio of 3.27. The stock has a market capitalization of $9.38 billion, a P/E ratio of 290.01, a P/E/G ratio of 10.61 and a beta of 1.42. The firm’s 50-day moving average is $108.52 and its two-hundred day moving average is $99.29. Altair Engineering Inc. has a 12-month low of $75.71 and a 12-month high of $113.12.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Rosenblatt Securities lifted their target price on shares of Altair Engineering from $88.00 to $113.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. 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. Royal Bank of Canada lifted their price objective on Altair Engineering from $90.00 to $113.00 and gave the company a “sector perform” rating in a research note on Thursday, October 31st. Needham & Company LLC reiterated a “hold” rating and issued a $100.00 price target on shares of Altair Engineering in a research note on Thursday, October 31st. Finally, William Blair reiterated a “market perform” rating on shares of Altair Engineering in a research note on Thursday, October 31st. One analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, Altair Engineering presently has a consensus rating of “Hold” and a consensus price target of $100.71.

Insider Buying and Selling

In related news, CFO Matthew Charles Brown sold 1,048 shares of the business’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $108.90, for a total value of $114,127.20. Following the transaction, the chief financial officer now owns 55,519 shares in the company, valued at approximately $6,046,019.10. The trade was a 1.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO James Ralph Scapa sold 13,000 shares of the stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $105.69, for a total transaction of $1,373,970.00. Following the transaction, the chief executive officer now directly owns 134,045 shares in the company, valued at $14,167,216.05. The trade was a 8.84 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 59,503 shares of company stock valued at $6,303,008. Insiders own 21.75% 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.