PTC Inc. $PTC Shares Bought by SteelPeak Wealth LLC

SteelPeak Wealth LLC grew its holdings in PTC Inc. (NASDAQ:PTC) by 238.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,553 shares of the technology company’s stock after acquiring an additional 3,206 shares during the quarter. SteelPeak Wealth LLC’s holdings in PTC were worth $924,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Vanguard Group Inc. raised its position in shares of PTC by 2.9% in the 2nd quarter. Vanguard Group Inc. now owns 14,748,971 shares of the technology company’s stock valued at $2,541,838,000 after purchasing an additional 416,791 shares during the last quarter. State Street Corp grew its position in PTC by 4.0% during the 2nd quarter. State Street Corp now owns 5,372,296 shares of the technology company’s stock worth $925,861,000 after purchasing an additional 205,029 shares during the last quarter. Geode Capital Management LLC increased its stake in PTC by 8.4% during the 2nd quarter. Geode Capital Management LLC now owns 3,415,785 shares of the technology company’s stock valued at $586,438,000 after purchasing an additional 265,558 shares in the last quarter. Lazard Asset Management LLC raised its holdings in shares of PTC by 31.4% in the second quarter. Lazard Asset Management LLC now owns 1,547,622 shares of the technology company’s stock worth $266,715,000 after buying an additional 370,097 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of PTC by 27.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,517,480 shares of the technology company’s stock worth $235,134,000 after buying an additional 327,326 shares during the period. Hedge funds and other institutional investors own 95.14% of the company’s stock.

PTC Stock Down 2.4%

PTC stock opened at $170.10 on Friday. The business’s 50-day moving average price is $178.69 and its 200 day moving average price is $192.59. The company has a quick ratio of 1.43, a current ratio of 1.12 and a debt-to-equity ratio of 0.31. The firm has a market cap of $20.23 billion, a price-to-earnings ratio of 27.70, a price-to-earnings-growth ratio of 2.84 and a beta of 1.01. PTC Inc. has a 52 week low of $133.38 and a 52 week high of $219.69.

PTC (NASDAQ:PTC) last released its quarterly earnings data on Friday, November 21st. The technology company reported $2.10 EPS for the quarter. The business had revenue of $1.76 billion for the quarter. PTC had a return on equity of 23.03% and a net margin of 27.05%. As a group, sell-side analysts anticipate that PTC Inc. will post 4.46 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Staats Aaron C. Von sold 6,328 shares of the stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $174.79, for a total transaction of $1,106,071.12. Following the sale, the executive vice president directly owned 22,461 shares of the company’s stock, valued at $3,925,958.19. This represents a 21.98% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Kristian Talvitie sold 50,291 shares of the firm’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $173.14, for a total value of $8,707,383.74. Following the sale, the executive vice president owned 12,386 shares in the company, valued at $2,144,512.04. This trade represents a 80.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 61,277 shares of company stock worth $10,624,076 over the last three months. 0.29% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on PTC. Robert W. Baird set a $255.00 target price on PTC in a research report on Wednesday, October 22nd. Weiss Ratings reissued a “buy (b-)” rating on shares of PTC in a report on Monday, December 29th. Rosenblatt Securities reduced their price objective on PTC from $227.00 to $220.00 and set a “buy” rating for the company in a research note on Thursday, November 6th. Wall Street Zen upgraded PTC from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Finally, Piper Sandler cut their price target on shares of PTC from $200.00 to $175.00 and set a “neutral” rating on the stock in a report on Friday, November 7th. Twelve analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, PTC has a consensus rating of “Moderate Buy” and a consensus price target of $205.92.

PTC Profile

PTC Inc (NASDAQ: PTC) is a global technology company that develops software and services to help manufacturers design, operate, and service physical products. Founded in 1985 as Parametric Technology Corporation, PTC pioneered parametric, feature-based CAD with its Pro/ENGINEER product (now marketed as Creo) and has since expanded its portfolio to address product lifecycle management, Internet of Things (IoT), augmented reality (AR) and industrial connectivity.

Key product lines include Creo for 3D CAD; Windchill for product lifecycle management (PLM); ThingWorx, an IoT platform for connecting devices and building industrial applications; Vuforia, an AR platform for creating immersive service and training experiences; and Kepware, a suite for industrial connectivity and protocol translation.