Altair Engineering Inc. (NASDAQ:ALTR) Shares Acquired by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. increased its stake in Altair Engineering Inc. (NASDAQ:ALTRGet Rating) by 1.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 97,775 shares of the software’s stock after purchasing an additional 1,274 shares during the quarter. Envestnet Asset Management Inc. owned about 0.12% of Altair Engineering worth $5,133,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. BlackRock Inc. raised its position in Altair Engineering by 7.5% in the first quarter. BlackRock Inc. now owns 4,879,144 shares of the software’s stock worth $314,217,000 after acquiring an additional 339,610 shares in the last quarter. Vanguard Group Inc. raised its position in Altair Engineering by 0.4% in the first quarter. Vanguard Group Inc. now owns 4,645,906 shares of the software’s stock worth $299,196,000 after acquiring an additional 18,157 shares in the last quarter. Eaton Vance Management raised its position in Altair Engineering by 24.9% in the first quarter. Eaton Vance Management now owns 1,228,336 shares of the software’s stock worth $79,104,000 after acquiring an additional 244,872 shares in the last quarter. State Street Corp raised its position in Altair Engineering by 5.1% in the first quarter. State Street Corp now owns 968,901 shares of the software’s stock worth $62,397,000 after acquiring an additional 47,389 shares in the last quarter. Finally, abrdn plc raised its position in Altair Engineering by 36.5% in the first quarter. abrdn plc now owns 674,313 shares of the software’s stock worth $43,426,000 after acquiring an additional 180,413 shares in the last quarter. Institutional investors and hedge funds own 62.68% of the company’s stock.

Altair Engineering Stock Up 1.7 %

ALTR stock opened at $48.78 on Friday. The firm has a 50-day moving average of $47.04 and a two-hundred day moving average of $51.41. The company has a quick ratio of 2.96, a current ratio of 2.35 and a debt-to-equity ratio of 0.57. Altair Engineering Inc. has a one year low of $43.17 and a one year high of $80.80.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Wolfe Research assumed coverage on shares of Altair Engineering in a research report on Tuesday, August 16th. They issued an “outperform” rating and a $70.00 price target on the stock. Oppenheimer reaffirmed an “initiates” rating on shares of Altair Engineering in a research note on Wednesday, July 27th. Rosenblatt Securities reduced their price objective on shares of Altair Engineering from $70.00 to $63.00 and set a “buy” rating for the company in a research note on Monday, October 24th. Finally, TheStreet lowered shares of Altair Engineering from a “c-” rating to a “d+” rating in a research note on Monday, September 19th. One analyst has rated the stock with a sell rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $58.50.

About Altair Engineering

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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 worldwide. The company operates in two segments, Software and Client Engineering Services. The Software segment includes solvers and optimization technology products, high-performance computing software applications and hardware products, modeling and visualization tools, data analytics and analysis products, and Internet of Things platform and analytics tools, as well as support and the complementary software products.

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Institutional Ownership by Quarter for Altair Engineering (NASDAQ:ALTR)

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