Altair Engineering Inc. (NASDAQ:ALTR) Major Shareholder Jrs Investments Llc Sells 6,500 Shares

Altair Engineering Inc. (NASDAQ:ALTR) major shareholder Jrs Investments Llc sold 6,500 shares of Altair Engineering stock in a transaction on Friday, November 29th. The shares were sold at an average price of $105.69, for a total transaction of $686,985.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions 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

Shares of ALTR stock traded up $0.23 on Monday, reaching $105.84. The company’s stock had a trading volume of 391,510 shares, compared to its average volume of 586,695. Altair Engineering Inc. has a 12-month low of $70.07 and a 12-month high of $113.12. The stock’s 50 day simple moving average is $100.49 and its 200-day simple moving average is $94.60. The company has a quick ratio of 3.27, a current ratio of 3.27 and a debt-to-equity ratio of 0.27. The company has a market capitalization of $9.00 billion, a P/E ratio of 276.82, a PEG ratio of 12.14 and a beta of 1.44.

Wall Street Analyst Weigh In

ALTR has been the subject of several recent analyst reports. Needham & Company LLC reaffirmed a “hold” rating and issued a $100.00 target price on shares of Altair Engineering in a report on Thursday, October 31st. Loop Capital reaffirmed a “hold” rating and issued a $113.00 price objective on shares of Altair Engineering in a report on Thursday, October 31st. Rosenblatt Securities boosted 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. Royal Bank of Canada raised their price target on Altair Engineering from $90.00 to $113.00 and gave the stock a “sector perform” rating in a report on Thursday, October 31st. Finally, William Blair reissued a “market perform” rating on shares of Altair Engineering in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $100.71.

Institutional Trading of Altair Engineering

A number of large investors have recently modified their holdings of the business. William Blair Investment Management LLC bought a new position in Altair Engineering during the second quarter valued at approximately $91,589,000. Bank of New York Mellon Corp boosted its position in Altair Engineering by 121.7% during the second quarter. Bank of New York Mellon Corp now owns 569,109 shares of the software’s stock valued at $55,818,000 after buying an additional 312,448 shares during the period. Principal Financial Group Inc. grew its position in Altair Engineering by 772.7% during the 2nd quarter. Principal Financial Group Inc. now owns 212,560 shares of the software’s stock worth $20,848,000 after acquiring an additional 188,203 shares during the last quarter. Great Lakes Advisors LLC purchased a new position in Altair Engineering in the 2nd quarter worth approximately $13,343,000. Finally, Candriam S.C.A. lifted its position in Altair Engineering by 28.9% in the second quarter. Candriam S.C.A. now owns 560,565 shares of the software’s stock valued at $54,978,000 after purchasing an additional 125,816 shares during the last quarter. Institutional investors own 63.38% of the company’s stock.

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.