KBC Group NV Purchases 249 Shares of Altair Engineering Inc. (NASDAQ:ALTR)

KBC Group NV increased its position in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 17.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,640 shares of the software’s stock after purchasing an additional 249 shares during the period. KBC Group NV’s holdings in Altair Engineering were worth $157,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in ALTR. GAMMA Investing LLC grew its position in shares of Altair Engineering by 52.2% in the 3rd quarter. GAMMA Investing LLC now owns 636 shares of the software’s stock worth $61,000 after buying an additional 218 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Altair Engineering by 5,564.8% during the 1st quarter. Russell Investments Group Ltd. now owns 31,043 shares of the software’s stock valued at $2,676,000 after purchasing an additional 30,495 shares during the last quarter. Moody Aldrich Partners LLC boosted its position in shares of Altair Engineering by 15.2% in the 3rd quarter. Moody Aldrich Partners LLC now owns 75,233 shares of the software’s stock worth $7,186,000 after purchasing an additional 9,907 shares in the last quarter. Linden Thomas Advisory Services LLC purchased a new position in Altair Engineering during the 2nd quarter worth $629,000. Finally, Jane Street Group LLC increased its position in Altair Engineering by 960.2% during the 1st quarter. Jane Street Group LLC now owns 303,672 shares of the software’s stock valued at $26,161,000 after buying an additional 275,030 shares in the last quarter. 63.38% of the stock is currently owned by institutional investors.

Insider Activity at Altair Engineering

In other Altair Engineering news, CEO James Ralph Scapa sold 13,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $89.04, for a total value of $1,157,520.00. Following the completion of the sale, the chief executive officer now owns 134,045 shares in the company, valued at approximately $11,935,366.80. The trade was a 8.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 sale, the insider now owns 30,305 shares of the company’s stock, valued at $3,141,113.25. This trade represents a 1.17 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 362,544 shares of company stock worth $35,717,201. Company insiders own 21.75% of the company’s stock.

Altair Engineering Trading Up 0.1 %

Shares of ALTR stock opened at $104.37 on Thursday. Altair Engineering Inc. has a fifty-two week low of $68.87 and a fifty-two week high of $113.12. 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 stock’s fifty day moving average is $98.49 and its two-hundred day moving average is $93.60. The firm has a market capitalization of $8.88 billion, a P/E ratio of 274.67, a PEG ratio of 11.93 and a beta of 1.44.

Analysts Set New Price Targets

ALTR has been the subject of a number of research analyst reports. Loop Capital reaffirmed a “hold” rating and issued a $113.00 price target on shares of Altair Engineering in a report on Thursday, October 31st. Needham & Company LLC reaffirmed a “hold” rating and set a $100.00 price target on shares of Altair Engineering in a research report on Thursday, October 31st. William Blair reissued a “market perform” rating on shares of Altair Engineering in a report on Thursday, October 31st. The Goldman Sachs Group downgraded Altair Engineering from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $85.00 to $71.00 in a report on Friday, August 2nd. Finally, Wolfe Research downgraded shares of Altair Engineering from a “strong-buy” rating to a “hold” rating in a report on Sunday, November 3rd. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $100.71.

Altair Engineering 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.