PTC Inc. (NASDAQ:PTC) Short Interest Update

PTC Inc. (NASDAQ:PTC) saw a large decline in short interest in November. As of November 15th, there was short interest totalling 2,110,000 shares, a decline of 17.3% from the October 31st total of 2,550,000 shares. Based on an average daily volume of 785,700 shares, the short-interest ratio is presently 2.7 days.

PTC Price Performance

PTC stock opened at $200.06 on Friday. The firm has a market capitalization of $24.03 billion, a P/E ratio of 64.33, a PEG ratio of 2.71 and a beta of 1.17. The business has a 50-day moving average of $186.73 and a 200-day moving average of $179.99. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.38. PTC has a 1 year low of $154.73 and a 1 year high of $201.66.

Insider Activity

In other news, CAO Alice Christenson sold 1,703 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $193.20, for a total value of $329,019.60. Following the transaction, the chief accounting officer now directly owns 830 shares of the company’s stock, valued at $160,356. The trade was a 67.23 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Corinna Lathan sold 860 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $200.00, for a total value of $172,000.00. Following the sale, the director now directly owns 6,843 shares of the company’s stock, 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. 1.17% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PTC. Swedbank AB bought a new position in PTC during the first quarter worth about $9,849,000. DekaBank Deutsche Girozentrale lifted its holdings in shares of PTC by 147.3% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 115,036 shares of the technology company’s stock valued at $21,672,000 after purchasing an additional 68,513 shares in the last quarter. GAMMA Investing LLC grew its position in shares of PTC by 53.7% in the 2nd quarter. GAMMA Investing LLC now owns 1,620 shares of the technology company’s stock valued at $294,000 after purchasing an additional 566 shares during the period. Massmutual Trust Co. FSB ADV increased its stake in PTC by 98.9% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 354 shares of the technology company’s stock worth $64,000 after purchasing an additional 176 shares in the last quarter. Finally, Mather Group LLC. raised its holdings in PTC by 14.8% during the 2nd quarter. Mather Group LLC. now owns 713 shares of the technology company’s stock worth $135,000 after buying an additional 92 shares during the period. Institutional investors and hedge funds own 95.14% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on PTC. Rosenblatt Securities restated a “buy” rating and issued a $195.00 price objective on shares of PTC in a research report on Thursday, October 10th. Berenberg Bank cut shares of PTC from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $210.00 to $196.00 in a research report on Friday, November 1st. StockNews.com upgraded PTC from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Piper Sandler upped their price target on PTC from $182.00 to $202.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Finally, Robert W. Baird lifted their price objective on PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $204.83.

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.