MGO One Seven LLC Increases Position in PTC Inc. (NASDAQ:PTC)

Posted by Defense World Staff on Aug 17th, 2023

MGO One Seven LLC lifted its holdings in PTC Inc. (NASDAQ:PTC – Free Report) by 10.4% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,067 shares of the technology company’s stock after buying an additional 194 shares during the period. MGO One Seven LLC’s holdings in PTC were worth $265,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PTC. Norges Bank purchased a new position in PTC in the fourth quarter valued at approximately $48,590,000. Select Equity Group L.P. purchased a new position in PTC in the first quarter valued at approximately $43,148,000. DnB Asset Management AS lifted its stake in PTC by 41.5% in the first quarter. DnB Asset Management AS now owns 926,005 shares of the technology company’s stock valued at $118,742,000 after purchasing an additional 271,589 shares during the last quarter. Two Sigma Investments LP lifted its stake in PTC by 597.9% in the fourth quarter. Two Sigma Investments LP now owns 278,581 shares of the technology company’s stock valued at $33,441,000 after purchasing an additional 238,663 shares during the last quarter. Finally, National Pension Service lifted its stake in PTC by 1,870.0% in the third quarter. National Pension Service now owns 201,220 shares of the technology company’s stock valued at $21,263,000 after purchasing an additional 191,006 shares during the last quarter. Hedge funds and other institutional investors own 91.49% of the company’s stock.

PTC Stock Down 0.5 %

PTC opened at $144.32 on Thursday. The stock has a market cap of $17.15 billion, a PE ratio of 56.16, a P/E/G ratio of 3.51 and a beta of 1.19. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.67. PTC Inc. has a 52 week low of $101.82 and a 52 week high of $152.09. The business’s fifty day simple moving average is $142.59 and its 200 day simple moving average is $133.14.

PTC (NASDAQ:PTC – Get Free Report) last released its 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). The firm had revenue of $542.34 million during the quarter, compared to the consensus estimate of $530.35 million. PTC had a net margin of 14.90% and a return on equity of 15.41%. As a group, research analysts expect that PTC Inc. will post 2.96 earnings per share for the current fiscal year.

Insider Activity at PTC

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 transaction, the director now owns 19,136 shares of the company’s stock, valued at $2,879,585.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other PTC news, Director Paul A. Lacy sold 2,500 shares of the company’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $150.48, for a total transaction of $376,200.00. Following the completion of the sale, the director now directly owns 19,136 shares in the company, valued at $2,879,585.28. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Michael Ditullio sold 3,000 shares of the company’s stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $143.47, for a total transaction of $430,410.00. Following the sale, the chief operating officer now owns 60,674 shares of the company’s stock, valued at $8,704,898.78. The disclosure for this sale can be found here. Insiders have sold a total of 74,322 shares of company stock valued at $10,050,908 over the last 90 days. 8.26% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PTC. Piper Sandler reiterated a “neutral” rating and issued a $150.00 price objective on shares of PTC in a research note on Thursday, July 27th. KeyCorp increased their target price on PTC from $160.00 to $177.00 and gave the stock an “overweight” rating in a research report on Thursday, July 27th. StockNews.com began coverage on PTC in a research report on Thursday. They set a “hold” rating on the stock. VNET Group restated a “maintains” rating on shares of PTC in a research report on Thursday, April 27th. Finally, Royal Bank of Canada increased their target price on PTC from $158.00 to $165.00 and gave the stock an “outperform” rating in a research report on Monday, July 24th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $160.92.

Get Our Latest Stock Report on PTC

PTC Company Profile

(Free Report)

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.

MGO One Seven LLC Increases Position in PTC Inc. (NASDAQ:PTC)

PTC Stock Down 0.5 %

Insider Activity at PTC

Wall Street Analysts Forecast Growth

PTC Company Profile

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