Altair Engineering Inc. (NASDAQ:ALTR) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its holdings in Altair Engineering Inc. (NASDAQ:ALTR - Free Report) by 22.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 165,793 shares of the software's stock after selling 46,767 shares during the quarter. Principal Financial Group Inc. owned 0.19% of Altair Engineering worth $15,835,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its stake in shares of Altair Engineering by 572.1% in the third quarter. Blue Trust Inc. now owns 289 shares of the software's stock valued at $28,000 after purchasing an additional 246 shares during the period. GAMMA Investing LLC lifted its position in shares of Altair Engineering by 52.2% during the 3rd quarter. GAMMA Investing LLC now owns 636 shares of the software's stock valued at $61,000 after acquiring an additional 218 shares during the period. Van ECK Associates Corp boosted its stake in shares of Altair Engineering by 41.7% during the 2nd quarter. Van ECK Associates Corp now owns 1,057 shares of the software's stock worth $104,000 after acquiring an additional 311 shares in the last quarter. KBC Group NV grew its holdings in shares of Altair Engineering by 17.9% in 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 during the period. Finally, Ballentine Partners LLC acquired a new stake in shares of Altair Engineering in the 2nd quarter worth approximately $202,000. Institutional investors and hedge funds own 63.38% of the company's stock.

Insider Transactions at Altair Engineering

In other Altair Engineering news, CEO James Ralph Scapa sold 13,000 shares of the business's stock in a transaction dated Monday, September 30th. The stock was sold at an average price of $95.10, for a total transaction of $1,236,300.00. Following the completion of the sale, the chief executive officer now owns 134,045 shares of the company's stock, valued at approximately $12,747,679.50. The trade was a 8.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Ravi Kunju sold 360 shares of the firm's stock in a transaction dated Monday, November 11th. The stock was 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 351,519 shares of company stock worth $35,432,937 in the last three months. Company insiders own 21.75% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ALTR shares. William Blair reiterated a "market perform" rating on shares of Altair Engineering in a research report on Thursday, October 31st. Rosenblatt Securities boosted their price objective on shares of Altair Engineering from $88.00 to $113.00 and gave the stock a "neutral" rating in a research report on Thursday, October 31st. Wolfe Research downgraded shares of Altair Engineering from a "strong-buy" rating to a "hold" rating in a report on Sunday, November 3rd. Royal Bank of Canada upped their price target on shares of Altair Engineering from $90.00 to $113.00 and gave the company a "sector perform" rating in a report on Thursday, October 31st. Finally, Loop Capital reissued a "hold" rating and set a $113.00 price objective on shares of Altair Engineering 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 given a buy rating to the stock. According to data from MarketBeat, Altair Engineering presently has a consensus rating of "Hold" and an average price target of $100.71.

Altair Engineering Trading Down 0.1 %

NASDAQ:ALTR traded down $0.09 during mid-day trading on Friday, reaching $109.01. The company's stock had a trading volume of 657,071 shares, compared to its average volume of 603,682. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.27 and a quick ratio of 3.27. The stock has a market cap of $9.27 billion, a P/E ratio of 286.88, a P/E/G ratio of 12.16 and a beta of 1.44. The company's fifty day simple moving average is $105.45 and its two-hundred day simple moving average is $96.96. Altair Engineering Inc. has a twelve month low of $75.71 and a twelve month high of $113.12.

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.