Edgestream Partners L.P. Buys 9,698 Shares of PTC Inc. (NASDAQ:PTC)

Edgestream Partners L.P. raised its holdings in shares of PTC Inc. (NASDAQ:PTC) by 125.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,409 shares of the technology company’s stock after purchasing an additional 9,698 shares during the quarter. Edgestream Partners L.P.’s holdings in PTC were worth $3,145,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of the business. Fernbridge Capital Management LP lifted its position in PTC by 83.7% during the third quarter. Fernbridge Capital Management LP now owns 1,429,005 shares of the technology company’s stock valued at $258,164,000 after purchasing an additional 650,990 shares during the last quarter. Impax Asset Management Group plc lifted its holdings in shares of PTC by 4.4% in the 2nd quarter. Impax Asset Management Group plc now owns 1,141,782 shares of the technology company’s stock worth $206,091,000 after acquiring an additional 48,553 shares during the last quarter. Liontrust Investment Partners LLP lifted its holdings in shares of PTC by 1.0% in the 2nd quarter. Liontrust Investment Partners LLP now owns 1,003,922 shares of the technology company’s stock worth $182,383,000 after acquiring an additional 10,338 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of PTC by 19.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 924,456 shares of the technology company’s stock worth $167,012,000 after acquiring an additional 150,652 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of PTC by 4.3% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 783,077 shares of the technology company’s stock worth $141,471,000 after acquiring an additional 32,343 shares during the last quarter. Institutional investors own 95.14% of the company’s stock.

Insider Buying and Selling at PTC

In other news, CAO Alice Christenson sold 1,703 shares of the firm’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $193.20, for a total value of $329,019.60. Following the sale, the chief accounting officer now directly owns 830 shares in the company, valued at approximately $160,356. This trade represents a 67.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Corinna Lathan sold 860 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $200.00, for a total transaction of $172,000.00. Following the completion of the sale, the director now owns 6,843 shares in the company, valued at $1,368,600. This represents a 11.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.17% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PTC. Berenberg Bank lowered shares of PTC from a “buy” rating to a “hold” rating and lowered their target price for the stock from $210.00 to $196.00 in a report on Friday, November 1st. Robert W. Baird raised their target price on shares of PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Rosenblatt Securities restated a “buy” rating and issued a $195.00 target price on shares of PTC in a report on Thursday, October 10th. Royal Bank of Canada raised their target price on shares of PTC from $202.00 to $230.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Finally, Piper Sandler raised their price target on shares of PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $204.83.

PTC Trading Up 0.5 %

NASDAQ PTC opened at $200.06 on Monday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.78 and a current ratio of 0.78. The company has a market capitalization of $24.03 billion, a price-to-earnings ratio of 64.33, a price-to-earnings-growth ratio of 2.71 and a beta of 1.17. The company’s 50-day simple moving average is $186.73 and its two-hundred day simple moving average is $179.96. PTC Inc. has a one year low of $154.73 and a one year high of $201.66.

PTC Profile

PTC Inc operates as software company in the Americas, Europe, and the Asia Pacific. The company provides Windchill, a suite that manages all aspects of the product development lifecycle(PLM) that provides real-time information sharing, dynamic data visualization, collaborate across geographically distributed teams, and enabling manufacturers to elevate product development, manufacturing, and field service processes; ThingWorx, a platform for Industrial Internet of Things; ServiceMax, a field service management solutions enable companies to asset uptime with optimized in-person and remote service and technician productivity with mobile tools.