PTC (NASDAQ:PTC) Hits New 12-Month High at $140.19

Posted by Defense World Staff on Jun 8th, 2023

PTC Inc. (NASDAQ:PTC – Get Rating) shares reached a new 52-week high on Tuesday . The company traded as high as $140.19 and last traded at $140.08, with a volume of 33623 shares. The stock had previously closed at $139.28.

Analyst Ratings Changes

A number of research firms have weighed in on PTC. Rosenblatt Securities restated a “buy” rating and issued a $148.00 target price on shares of PTC in a research report on Friday, April 14th. Barclays increased their price objective on PTC from $150.00 to $152.00 in a research report on Thursday, April 27th. StockNews.com upgraded PTC from a “hold” rating to a “buy” rating in a research report on Friday, May 26th. Citigroup cut their price objective on PTC from $147.00 to $140.00 in a research report on Monday, April 24th. Finally, VNET Group reiterated a “maintains” rating on shares of PTC in a research report on Thursday, April 27th. Three equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $155.50.

PTC Price Performance

The company has a debt-to-equity ratio of 0.76, a current ratio of 0.73 and a quick ratio of 0.73. The stock’s fifty day simple moving average is $129.32 and its 200-day simple moving average is $127.08. The company has a market capitalization of $16.10 billion, a P/E ratio of 51.11, a PEG ratio of 3.07 and a beta of 1.19.

Insider Transactions at PTC

In other news, Director Blake D. Moret sold 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $130.42, for a total transaction of $5,216,800.00. Following the completion of the sale, the director now owns 6,574,334 shares of the company’s stock, valued at $857,424,640.28. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, COO Michael Ditullio sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, April 28th. The shares were sold at an average price of $122.79, for a total value of $245,580.00. Following the completion of the sale, the chief operating officer now owns 61,250 shares of the company’s stock, valued at $7,520,887.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Blake D. Moret sold 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $130.42, for a total transaction of $5,216,800.00. Following the completion of the sale, the director now directly owns 6,574,334 shares of the company’s stock, valued at approximately $857,424,640.28. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 497,712 shares of company stock valued at $63,633,786. Corporate insiders own 8.26% of the company’s stock.

Institutional Trading of PTC

Hedge funds and other institutional investors have recently modified their holdings of the stock. Belpointe Asset Management LLC bought a new position in PTC in the fourth quarter valued at approximately $27,000. Clear Street Markets LLC increased its stake in 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 last quarter. Desjardins Global Asset Management Inc. acquired a new stake in PTC in the 1st quarter valued at $43,000. Harvest Fund Management Co. Ltd increased its stake in PTC by 444.3% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 528 shares of the technology company’s stock valued at $48,000 after buying an additional 431 shares during the last quarter. Finally, Fred Alger Management LLC increased its stake in PTC by 102.4% in the 4th quarter. Fred Alger Management LLC now owns 417 shares of the technology company’s stock valued at $50,000 after buying an additional 211 shares during the last quarter. Institutional investors and hedge funds own 86.79% of the company’s stock.

PTC Company Profile

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PTC, Inc is a global software company, which engages in the provision of portfolio of innovative digital solutions that work together to transform how physical products are engineered, manufactured, and serviced. It operates through the Software Products and Professional Services segments. The Software Products segment includes license, subscription, and related support revenue for its products.