SteelPeak Wealth LLC Acquires 451 Shares of PTC Inc. (NASDAQ:PTC)

SteelPeak Wealth LLC raised its holdings in shares of PTC Inc. (NASDAQ:PTC) by 13.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,878 shares of the technology company’s stock after purchasing an additional 451 shares during the quarter. SteelPeak Wealth LLC’s holdings in PTC were worth $733,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of PTC. Wellington Management Group LLP increased its stake in PTC by 1,409.3% during the 4th quarter. Wellington Management Group LLP now owns 1,680,421 shares of the technology company’s stock valued at $294,006,000 after purchasing an additional 1,569,081 shares in the last quarter. Twin Focus Capital Partners LLC bought a new stake in shares of PTC in the 4th quarter worth $177,081,000. Vanguard Group Inc. grew its stake in shares of PTC by 6.6% in the 3rd quarter. Vanguard Group Inc. now owns 13,870,249 shares of the technology company’s stock worth $1,965,137,000 after acquiring an additional 859,227 shares in the last quarter. Norges Bank bought a new stake in shares of PTC in the 4th quarter worth $114,043,000. Finally, Balyasny Asset Management L.P. grew its stake in shares of PTC by 173.8% in the 4th quarter. Balyasny Asset Management L.P. now owns 543,266 shares of the technology company’s stock worth $95,050,000 after acquiring an additional 344,853 shares in the last quarter. Institutional investors own 95.14% of the company’s stock.

PTC Price Performance

Shares of PTC stock traded up $0.41 on Friday, reaching $181.67. The stock had a trading volume of 1,660,068 shares, compared to its average volume of 704,127. PTC Inc. has a 1 year low of $134.61 and a 1 year high of $194.24. The company has a market cap of $21.75 billion, a P/E ratio of 76.01, a price-to-earnings-growth ratio of 3.42 and a beta of 1.18. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.51. The business’s 50 day moving average is $178.03 and its two-hundred day moving average is $178.96.

PTC (NASDAQ:PTC) last announced its quarterly earnings results on Wednesday, May 1st. The technology company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.23. The firm had revenue of $603.07 million for the quarter, compared to the consensus estimate of $575.53 million. PTC had a net margin of 12.84% and a return on equity of 13.76%. As a group, research analysts anticipate that PTC Inc. will post 3.48 EPS for the current year.

Insider Buying and Selling

In other PTC news, insider Catherine Kniker sold 1,254 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $173.45, for a total transaction of $217,506.30. Following the transaction, the insider now directly owns 13,598 shares in the company, valued at $2,358,573.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other PTC news, Director Janice Chaffin sold 4,000 shares of the stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $178.20, for a total transaction of $712,800.00. Following the transaction, the director now directly owns 52,137 shares in the company, valued at $9,290,813.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Catherine Kniker sold 1,254 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $173.45, for a total transaction of $217,506.30. Following the transaction, the insider now owns 13,598 shares in the company, valued at $2,358,573.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,846 shares of company stock worth $2,137,631. Insiders own 1.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on PTC shares. Mizuho reiterated a “neutral” rating and issued a $190.00 target price (down previously from $200.00) on shares of PTC in a research note on Tuesday, June 4th. StockNews.com upgraded shares of PTC from a “hold” rating to a “buy” rating in a research note on Wednesday. Rosenblatt Securities reiterated a “buy” rating and issued a $195.00 target price on shares of PTC in a research note on Friday, April 12th. Robert W. Baird boosted their price target on shares of PTC from $210.00 to $216.00 and gave the stock an “outperform” rating in a report on Thursday, May 2nd. Finally, Barclays boosted their price target on shares of PTC from $198.00 to $215.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Three research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $199.73.

PTC Company 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.