Following these transactions, Scapa still retains substantial ownership in Altair Engineering, with a total of 134,045 shares directly held, alongside additional indirect holdings. This move is part of Scapa's ongoing management of his investment portfolio, which includes shares held in trust and through JRS Investments LLC. For deeper insights into ALTR's valuation and comprehensive financial analysis, investors can access the detailed Pro Research Report available on InvestingPro. For deeper insights into ALTR's valuation and comprehensive financial analysis, investors can access the detailed Pro Research Report available on InvestingPro.
Following these transactions, Scapa still retains substantial ownership in Altair Engineering, with a total of 134,045 shares directly held, alongside additional indirect holdings. This move is part of Scapa's ongoing management of his investment portfolio, which includes shares held in trust and through JRS Investments LLC. For deeper insights into ALTR's valuation and comprehensive financial analysis, investors can access the detailed Pro Research Report available on InvestingPro.
Following these transactions, Scapa still retains substantial ownership in Altair Engineering, with a total of 134,045 shares directly held, alongside additional indirect holdings. This move is part of Scapa's ongoing management of his investment portfolio, which includes shares held in trust and through JRS Investments LLC.
In other recent news, Altair Engineering Inc. has entered into several strategic partnerships and demonstrated robust financial growth. The company recently partnered with Moya Aero to develop electric vertical takeoff and landing (eVTOL) and unmanned aerial vehicles. Altair's Q2 2024 earnings showed a substantial year-over-year increase, with total revenue reaching $148.8 million and software revenue hitting $135.4 million.
Altair has also entered a definitive agreement to be acquired by Siemens (ETR:SIEGn) for $10.6 billion. Following this announcement, RBC Capital increased its price target for Altair, while William Blair downgraded Altair's stock from Outperform to Market Perform. In a significant technological advancement, Altair, in collaboration with the Technical University of Munich, achieved a breakthrough in quantum computing.
Furthermore, Altair announced a collaboration with the European Space Agency to provide its aerospace technology to various European entities as part of the ESA Partnership Initiative for Commercialisation. Matrix Capital Management has decided to maintain its full investment position in Altair, signaling confidence in the company's long-term strategic value. These recent developments continue to shape Altair's trajectory in the engineering software solutions market.
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