Altair Engineering Inc. (NASDAQ:ALTR) Major Shareholder Sells $992,400.00 in Stock

Altair Engineering Inc. (NASDAQ:ALTR – Get Rating) major shareholder Jrs Investments Llc sold 15,000 shares of Altair Engineering stock in a transaction that occurred on Wednesday, March 15th. The shares were sold at an average price of $66.16, for a total transaction of $992,400.00. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Major 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 Wednesday, February 15th, Jrs Investments Llc sold 15,000 shares of Altair Engineering stock. The stock was sold at an average price of $57.70, for a total transaction of $865,500.00.
• On Tuesday, January 17th, Jrs Investments Llc sold 15,000 shares of Altair Engineering stock. The stock was sold at an average price of $49.91, for a total transaction of $748,650.00.
• On Monday, January 9th, Jrs Investments Llc sold 15,000 shares of Altair Engineering stock. The stock was sold at an average price of $48.45, for a total transaction of $726,750.00.

Altair Engineering Stock Up 2.1 %

Shares of Altair Engineering stock opened at $69.57 on Friday. Altair Engineering Inc. has a one year low of $43.17 and a one year high of $70.54. The company has a debt-to-equity ratio of 0.54, a current ratio of 2.26 and a quick ratio of 2.26. The stock’s 50-day moving average is $57.72 and its 200 day moving average is $50.77. The firm has a market cap of $5.57 billion, a price-to-earnings ratio of -119.95, a PEG ratio of 22.04 and a beta of 1.45.

Institutional Investors Weigh In On Altair Engineering

Several institutional investors and hedge funds have recently made changes to their positions in the business. Matrix Capital Management Company LP boosted its position in shares of Altair Engineering by 5.5% during the 4th quarter. Matrix Capital Management Company LP now owns 10,871,000 shares of the software’s stock valued at $494,304,000 after purchasing an additional 566,000 shares in the last quarter. Vanguard Group Inc. raised its stake in Altair Engineering by 1.5% during the 3rd quarter. Vanguard Group Inc. now owns 4,883,495 shares of the software’s stock worth $215,947,000 after buying an additional 73,603 shares during the period. BlackRock Inc. raised its stake in Altair Engineering by 7.5% during the 1st quarter. BlackRock Inc. now owns 4,879,144 shares of the software’s stock worth $314,217,000 after buying an additional 339,610 shares during the period. Impax Asset Management Group plc raised its stake in Altair Engineering by 18.6% during the 4th quarter. Impax Asset Management Group plc now owns 2,882,029 shares of the software’s stock worth $130,377,000 after buying an additional 452,632 shares during the period. Finally, Eaton Vance Management raised its stake in Altair Engineering by 24.9% during the 1st quarter. Eaton Vance Management now owns 1,228,336 shares of the software’s stock worth $79,104,000 after buying an additional 244,872 shares during the period. Institutional investors own 61.66% of the company’s stock.

Analyst Upgrades and Downgrades

ALTR has been the topic of several recent research reports. The Goldman Sachs Group lifted their target price on shares of Altair Engineering from $39.00 to $44.00 and gave the stock a “sell” rating in a research report on Monday, February 27th. TheStreet upgraded shares of Altair Engineering from a “d+” rating to a “c” rating in a report on Friday, February 24th. Oppenheimer upped their price objective on shares of Altair Engineering from $60.00 to $65.00 and gave the company an “outperform” rating in a research note on Friday, February 24th. Loop Capital lifted their target price on shares of Altair Engineering from $60.00 to $70.00 in a research note on Friday, February 24th. Finally, Needham & Company LLC upped their price target on shares of Altair Engineering from $60.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, February 24th. One analyst has rated the stock with a sell rating and four have issued a buy rating to the stock. According to MarketBeat, Altair Engineering presently has a consensus rating of “Moderate Buy” and an average price target of $64.33.

Altair Engineering Company Profile

(Get Rating)

Altair Engineering, Inc engages in the provision of software and cloud solutions for product design & development, high performance cloud computing, and data intelligence. It operates through the following segments: Software and Client Engineering Services. The Software segment includes a portfolio of software products, as well as solvers and optimization technology products, modelling and visualization tools.