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

Altair Engineering Inc. (NASDAQ:ALTR) major shareholder Jrs Investments Llc sold 6,500 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $105.69, for a total value of $686,985.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Large shareholders that own 10% or more 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 stock was sold at an average price of $102.59, for a total value 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 transaction of $618,150.00.

Altair Engineering Trading Up 0.2 %

ALTR opened at $105.83 on Tuesday. The stock has a market capitalization of $9.00 billion, a PE ratio of 278.51, a P/E/G ratio of 12.14 and a beta of 1.44. Altair Engineering Inc. has a one year low of $70.07 and a one year high of $113.12. The company has a debt-to-equity ratio of 0.27, a quick ratio of 3.27 and a current ratio of 3.27. The business’s 50 day moving average price is $100.49 and its 200 day moving average price is $94.60.

Institutional Trading of Altair Engineering

A number of hedge funds and other institutional investors have recently modified their holdings of ALTR. Blue Trust Inc. increased its position in shares of Altair Engineering by 572.1% during the third quarter. Blue Trust Inc. now owns 289 shares of the software’s stock valued at $28,000 after acquiring an additional 246 shares during the last quarter. GAMMA Investing LLC boosted its position in shares of Altair Engineering by 81.7% during the second quarter. GAMMA Investing LLC now owns 418 shares of the software’s stock worth $41,000 after buying an additional 188 shares during the period. FSC Wealth Advisors LLC grew 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 valued at $82,000 after buying an additional 243 shares in the last quarter. Van ECK Associates Corp raised its holdings in shares of Altair Engineering by 41.7% in the 2nd quarter. Van ECK Associates Corp now owns 1,057 shares of the software’s stock valued at $104,000 after buying an additional 311 shares during the period. Finally, KBC Group NV lifted its stake in Altair Engineering by 17.9% during the 3rd quarter. KBC Group NV now owns 1,640 shares of the software’s stock worth $157,000 after acquiring an additional 249 shares in the last quarter. 63.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ALTR has been the topic of a number of research reports. Needham & Company LLC reaffirmed a “hold” rating and issued a $100.00 price target on shares of Altair Engineering in a research note on Thursday, October 31st. Loop Capital reiterated a “hold” rating and issued a $113.00 target price on shares of Altair Engineering in a research report on Thursday, October 31st. Rosenblatt Securities raised their price target 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. William Blair reaffirmed a “market perform” rating on shares of Altair Engineering in a research note on Thursday, October 31st. Finally, Wolfe Research lowered Altair Engineering from a “strong-buy” rating to a “hold” rating in a research report on Sunday, November 3rd. One investment 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’s stock. Based on data from MarketBeat, Altair Engineering has a consensus rating of “Hold” and an average price target of $100.71.

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.