State of New Jersey Common Pension Fund D Sells 805 Shares of Altair Engineering Inc. (NASDAQ:ALTR)

State of New Jersey Common Pension Fund D decreased its position in Altair Engineering Inc. (NASDAQ:ALTR) by 3.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,198 shares of the software’s stock after selling 805 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in Altair Engineering were worth $2,313,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Congress Asset Management Co. bought a new position in shares of Altair Engineering in the fourth quarter valued at approximately $251,000. Rhumbline Advisers raised its position in shares of Altair Engineering by 1.1% in the fourth quarter. Rhumbline Advisers now owns 178,626 shares of the software’s stock valued at $19,490,000 after purchasing an additional 1,875 shares during the period. ABC Arbitrage SA bought a new position in shares of Altair Engineering in the fourth quarter valued at approximately $3,421,000. Blue Trust Inc. raised its position in shares of Altair Engineering by 185.5% in the fourth quarter. Blue Trust Inc. now owns 825 shares of the software’s stock valued at $90,000 after purchasing an additional 536 shares during the period. Finally, New York State Teachers Retirement System raised its position in shares of Altair Engineering by 1.2% in the fourth quarter. New York State Teachers Retirement System now owns 8,600 shares of the software’s stock valued at $938,000 after purchasing an additional 100 shares during the period. Institutional investors own 63.38% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder Jrs Investments Llc sold 6,500 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $105.69, for a total transaction of $686,985.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO James Ralph Scapa sold 13,000 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $105.69, for a total value of $1,373,970.00. Following the sale, the chief executive officer now directly owns 134,045 shares of the company’s stock, valued at approximately $14,167,216.05. The trade was a 8.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 59,143 shares of company stock worth $6,265,694 in the last 90 days. Corporate insiders own 21.75% of the company’s stock.

Altair Engineering Stock Up 0.5 %

Shares of NASDAQ:ALTR opened at $111.78 on Friday. Altair Engineering Inc. has a 52 week low of $75.71 and a 52 week 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 company’s fifty day moving average is $109.80 and its 200-day moving average is $101.19. The company has a market capitalization of $9.51 billion, a PE ratio of 294.17, a P/E/G ratio of 10.69 and a beta of 1.42.

Altair Engineering (NASDAQ:ALTR) last issued its quarterly earnings results on Thursday, February 20th. The software reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.15). Altair Engineering had a return on equity of 7.49% and a net margin of 5.10%. Equities research analysts predict that Altair Engineering Inc. will post 0.75 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Loop Capital reissued a “hold” rating and issued a $113.00 price target on shares of Altair Engineering in a research report on Thursday, October 31st. Needham & Company LLC reaffirmed a “hold” rating and set a $100.00 target price on shares of Altair Engineering in a research report on Thursday, October 31st. Wolfe Research lowered shares of Altair Engineering from a “strong-buy” rating to a “hold” rating in a research report on Sunday, November 3rd. William Blair reaffirmed a “market perform” rating on shares of Altair Engineering in a research report on Thursday, October 31st. Finally, Royal Bank of Canada boosted their target price on shares of 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 issued a hold rating and one has issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus 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.