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 the stock in a transaction dated 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 accessible 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 shares were sold at an average price of $95.10, for a total transaction of $618,150.00.

Altair Engineering Price Performance

ALTR stock traded up $0.23 during trading 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. The company has a quick ratio of 3.27, a current ratio of 3.27 and a debt-to-equity ratio of 0.27. Altair Engineering Inc. has a 1 year low of $70.07 and a 1 year high of $113.12. The company’s fifty day moving average is $100.49 and its 200-day moving average is $94.60. The company has a market capitalization of $9.00 billion, a P/E ratio of 276.82, a price-to-earnings-growth ratio of 12.14 and a beta of 1.44.

Institutional Investors Weigh In On Altair Engineering

Several hedge funds and other institutional investors have recently modified their holdings of the business. GAMMA Investing LLC raised its stake in Altair Engineering by 81.7% in the second quarter. GAMMA Investing LLC now owns 418 shares of the software’s stock worth $41,000 after buying an additional 188 shares in the last quarter. Harbor Capital Advisors Inc. boosted its position in Altair Engineering by 9.2% during the second quarter. Harbor Capital Advisors Inc. now owns 9,738 shares of the software’s stock valued at $955,000 after purchasing an additional 817 shares in the last quarter. CWM LLC grew its stake in Altair Engineering by 169.4% in the second quarter. CWM LLC now owns 11,536 shares of the software’s stock valued at $1,131,000 after purchasing an additional 7,254 shares during the last quarter. PFW Advisors LLC bought a new position in Altair Engineering in the second quarter worth about $204,000. Finally, Linden Thomas Advisory Services LLC purchased a new stake in shares of Altair Engineering during the second quarter valued at about $629,000. 63.38% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ALTR has been the topic of a number of research analyst reports. Needham & Company LLC restated a “hold” rating and issued a $100.00 price target on shares of Altair Engineering in a research note on Thursday, October 31st. William Blair reiterated a “market perform” rating on shares of Altair Engineering in a report on Thursday, October 31st. Loop Capital reissued a “hold” rating and set a $113.00 price target on shares of Altair Engineering in a research report on Thursday, October 31st. Royal Bank of Canada lifted their price target on shares of Altair Engineering from $90.00 to $113.00 and gave the stock a “sector perform” rating in a report on Thursday, October 31st. Finally, Rosenblatt Securities boosted their price objective on Altair Engineering from $88.00 to $113.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $100.71.

Altair Engineering Company 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.