Altair Engineering Inc. (NASDAQ:ALTR) Major Shareholder Sells $686,985.00 in Stock

Altair Engineering Inc. (NASDAQ:ALTR) major shareholder Jrs Investments Llc sold 6,500 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $105.69, for a total value of $686,985.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Jrs Investments Llc also recently made the following trade(s):

• On Monday, October 28th, Jrs Investments Llc sold 6,500 shares of Altair Engineering stock. The shares were sold at an average price of $102.59, for a total transaction of $666,835.00.
• On Monday, September 30th, Jrs Investments Llc sold 6,500 shares of Altair Engineering stock. The stock was sold at an average price of $95.10, for a total value of $618,150.00.

Altair Engineering Price Performance

NASDAQ ALTR opened at $105.30 on Wednesday. The company has a market cap of $8.96 billion, a price-to-earnings ratio of 277.11, a PEG ratio of 12.16 and a beta of 1.44. 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’s fifty day moving average price is $100.72 and its 200 day moving average price is $94.70. Altair Engineering Inc. has a 1 year low of $70.07 and a 1 year high of $113.12.

Wall Street Analysts Forecast Growth

ALTR has been the subject of a number of analyst reports. Loop Capital restated a “hold” rating and set a $113.00 price objective on shares of Altair Engineering in a research note on Thursday, October 31st. Royal Bank of Canada raised their price target on shares of Altair Engineering from $90.00 to $113.00 and gave the company a “sector perform” rating in a report on Thursday, October 31st. Rosenblatt Securities boosted their price objective on shares of Altair Engineering from $88.00 to $113.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Wolfe Research downgraded shares of Altair Engineering from a “strong-buy” rating to a “hold” rating in a research note on Sunday, November 3rd. Finally, 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. One analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Altair Engineering presently has a consensus rating of “Hold” and a consensus price target of $100.71.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ALTR. Blue Trust Inc. lifted its holdings in shares of Altair Engineering by 572.1% during the third quarter. Blue Trust Inc. now owns 289 shares of the software’s stock worth $28,000 after purchasing an additional 246 shares during the period. GAMMA Investing LLC lifted its stake in Altair Engineering by 81.7% during the 2nd quarter. GAMMA Investing LLC now owns 418 shares of the software’s stock valued at $41,000 after acquiring an additional 188 shares during the period. FSC Wealth Advisors LLC increased its stake in shares of Altair Engineering by 41.3% in the second quarter. FSC Wealth Advisors LLC now owns 832 shares of the software’s stock worth $82,000 after acquiring an additional 243 shares during the period. Van ECK Associates Corp increased its stake in shares of Altair Engineering by 41.7% in the second quarter. Van ECK Associates Corp now owns 1,057 shares of the software’s stock worth $104,000 after acquiring an additional 311 shares during the period. Finally, KBC Group NV raised its holdings in shares of Altair Engineering by 17.9% during the third quarter. KBC Group NV now owns 1,640 shares of the software’s stock worth $157,000 after purchasing an additional 249 shares during the last quarter. 63.38% of the stock is owned by institutional investors and hedge funds.

About Altair Engineering

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.