Janus Henderson Group PLC Grows Stock Position in Altair Engineering Inc. (NASDAQ:ALTR)

Janus Henderson Group PLC raised its holdings in Altair Engineering Inc. (NASDAQ:ALTR) by 0.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 1,070,621 shares of the software’s stock after acquiring an additional 1,799 shares during the quarter. Janus Henderson Group PLC’s holdings in Altair Engineering were worth $102,254,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. New York State Teachers Retirement System raised its stake in Altair Engineering by 1.2% in the third quarter. New York State Teachers Retirement System now owns 8,500 shares of the software’s stock valued at $812,000 after buying an additional 100 shares during the last quarter. ProShare Advisors LLC increased its holdings in shares of Altair Engineering by 1.6% in the second quarter. ProShare Advisors LLC now owns 10,219 shares of the software’s stock valued at $1,002,000 after purchasing an additional 160 shares during the period. Ballentine Partners LLC increased its holdings in shares of Altair Engineering by 8.5% in the third quarter. Ballentine Partners LLC now owns 2,236 shares of the software’s stock valued at $214,000 after purchasing an additional 175 shares during the period. GAMMA Investing LLC increased its holdings in shares of Altair Engineering by 81.7% in the second quarter. GAMMA Investing LLC now owns 418 shares of the software’s stock valued at $41,000 after purchasing an additional 188 shares during the period. Finally, Thrivent Financial for Lutherans increased its holdings in shares of Altair Engineering by 1.5% in the third quarter. Thrivent Financial for Lutherans now owns 13,961 shares of the software’s stock valued at $1,333,000 after purchasing an additional 201 shares during the period. 63.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently commented on ALTR. William Blair reaffirmed a “market perform” rating on shares of Altair Engineering in a report on Thursday, October 31st. Wolfe Research lowered Altair Engineering from a “strong-buy” rating to a “hold” rating in a report on Sunday, November 3rd. Needham & Company LLC reaffirmed a “hold” rating and set a $100.00 target price on shares of Altair Engineering in a report on Thursday, October 31st. Rosenblatt Securities raised their target price on Altair Engineering from $88.00 to $113.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, Royal Bank of Canada increased their price target on Altair Engineering from $90.00 to $113.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $100.71.

Insider Activity

In other news, major shareholder Christ Revocable Trust sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 23rd. The stock was sold at an average price of $106.57, for a total value of $10,657,000.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Ravi Kunju sold 360 shares of the firm’s stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $103.65, for a total value of $37,314.00. Following the completion of the transaction, the insider now owns 30,305 shares in the company, valued at approximately $3,141,113.25. This trade represents a 1.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 361,924 shares of company stock worth $35,986,262 over the last quarter. 21.75% of the stock is currently owned by corporate insiders.

Altair Engineering Stock Performance

Shares of ALTR stock opened at $105.81 on Thursday. The company has a market capitalization of $9.00 billion, a P/E ratio of 278.45, a P/E/G ratio of 12.16 and a beta of 1.44. The business’s 50 day moving average is $100.96 and its two-hundred day moving average is $94.81. The company has a current ratio of 3.27, a quick ratio of 3.27 and a debt-to-equity ratio of 0.27. Altair Engineering Inc. has a 12-month low of $70.07 and a 12-month high of $113.12.

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.