DNB Asset Management AS grew its holdings in PTC Inc. (NASDAQ:PTC – Free Report) by 40.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,299,210 shares of the technology company’s stock after purchasing an additional 373,205 shares during the quarter. PTC comprises about 1.1% of DNB Asset Management AS’s portfolio, making the stock its 16th biggest position. DNB Asset Management AS owned approximately 1.10% of PTC worth $184,878,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Belpointe Asset Management LLC acquired a new stake in PTC in the fourth quarter worth $27,000. Clear Street Markets LLC grew its stake in shares of PTC by 93.5% in the 1st quarter. Clear Street Markets LLC now owns 207 shares of the technology company’s stock valued at $27,000 after buying an additional 100 shares during the period. Desjardins Global Asset Management Inc. bought a new stake in PTC in the 1st quarter valued at about $43,000. Fred Alger Management LLC raised its stake in PTC by 102.4% during the 4th quarter. Fred Alger Management LLC now owns 417 shares of the technology company’s stock worth $50,000 after buying an additional 211 shares during the period. Finally, Brown Brothers Harriman & Co. bought a new position in PTC in the first quarter worth approximately $50,000. Institutional investors own 92.23% of the company’s stock.
Analysts Set New Price Targets
Several research analysts have weighed in on the stock. Rosenblatt Securities raised their price objective on shares of PTC from $148.00 to $159.00 in a research note on Thursday, July 27th. Royal Bank of Canada raised their price target on shares of PTC from $158.00 to $165.00 and gave the company an “outperform” rating in a research report on Monday, July 24th. KeyCorp lifted their price target on PTC from $160.00 to $177.00 and gave the company an “overweight” rating in a research note on Thursday, July 27th. StockNews.com started coverage on PTC in a report on Thursday, August 17th. They issued a “hold” rating on the stock. Finally, Mizuho lifted their target price on PTC from $170.00 to $180.00 in a research report on Friday, July 28th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $160.92.
PTC Stock Performance
Shares of PTC traded up $0.77 during trading hours on Thursday, hitting $139.45. The company’s stock had a trading volume of 82,995 shares, compared to its average volume of 743,216. The business has a 50 day simple moving average of $143.68 and a two-hundred day simple moving average of $134.73. PTC Inc. has a 52-week low of $101.82 and a 52-week high of $152.09. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.68 and a quick ratio of 0.68. The company has a market cap of $16.57 billion, a price-to-earnings ratio of 54.29, a PEG ratio of 3.85 and a beta of 1.18.
PTC (NASDAQ:PTC – Get Free Report) last posted its quarterly earnings results on Wednesday, July 26th. The technology company reported $0.64 EPS for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.04). PTC had a return on equity of 15.41% and a net margin of 14.90%. The company had revenue of $542.34 million during the quarter, compared to the consensus estimate of $530.35 million. On average, equities analysts expect that PTC Inc. will post 2.94 earnings per share for the current fiscal year.
Insiders Place Their Bets
In related news, Director Paul A. Lacy sold 2,500 shares of the stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $150.48, for a total value of $376,200.00. Following the sale, the director now owns 19,136 shares in the company, valued at $2,879,585.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other PTC news, COO Michael Ditullio sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $143.47, for a total value of $430,410.00. Following the completion of the transaction, the chief operating officer now owns 60,674 shares of the company’s stock, valued at approximately $8,704,898.78. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Paul A. Lacy sold 2,500 shares of the stock in a transaction on Thursday, July 27th. The stock was sold at an average price of $150.48, for a total transaction of $376,200.00. Following the completion of the transaction, the director now directly owns 19,136 shares in the company, valued at approximately $2,879,585.28. The disclosure for this sale can be found here. Insiders have sold 8,000 shares of company stock worth $1,169,160 in the last three months. 8.26% of the stock is currently owned by corporate insiders.
PTC Company Profile
PTC Inc operates as software company in the Americas, Europe, and the Asia Pacific. The company operates in two segments, Software Products and Professional Services. It offers ThingWorx platform, which offers end-to-end capabilities to enable digital transformation; and Vuforia, which enables the creation of AR.
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