PTC Inc. (NASDAQ:PTC) Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. cut its holdings in shares of PTC Inc. (NASDAQ:PTC) by 6.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 26,306 shares of the technology company’s stock after selling 1,707 shares during the period. Daiwa Securities Group Inc.’s holdings in PTC were worth $4,779,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Royal London Asset Management Ltd. increased its position in shares of PTC by 9.2% during the second quarter. Royal London Asset Management Ltd. now owns 46,642 shares of the technology company’s stock worth $8,473,000 after acquiring an additional 3,911 shares during the period. Prudential PLC increased its holdings in PTC by 123.4% during the 2nd quarter. Prudential PLC now owns 58,849 shares of the technology company’s stock worth $10,691,000 after purchasing an additional 32,512 shares during the period. Acadian Asset Management LLC increased its holdings in PTC by 24.7% during the 2nd quarter. Acadian Asset Management LLC now owns 2,553 shares of the technology company’s stock worth $462,000 after purchasing an additional 506 shares during the period. Otter Creek Advisors LLC acquired a new stake in PTC in the 2nd quarter valued at about $2,540,000. Finally, Norden Group LLC boosted its stake in shares of PTC by 31.0% in the 2nd quarter. Norden Group LLC now owns 6,015 shares of the technology company’s stock valued at $1,093,000 after buying an additional 1,424 shares during the period. Institutional investors and hedge funds own 95.14% of the company’s stock.

Wall Street Analysts Forecast Growth

PTC has been the topic of a number of recent research reports. Piper Sandler upped their target price on shares of PTC from $177.00 to $182.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Mizuho reissued a “neutral” rating and issued a $190.00 price objective (down from $200.00) on shares of PTC in a research report on Tuesday, June 4th. Rosenblatt Securities lifted their price objective on shares of PTC from $190.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Royal Bank of Canada reiterated an “outperform” rating and set a $202.00 target price on shares of PTC in a research note on Thursday, August 1st. Finally, StockNews.com cut PTC from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $200.18.

PTC Stock Up 1.3 %

PTC opened at $170.94 on Friday. PTC Inc. has a one year low of $134.61 and a one year high of $194.24. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.70. The stock has a market capitalization of $20.46 billion, a P/E ratio of 71.52, a price-to-earnings-growth ratio of 3.07 and a beta of 1.18. The business’s 50-day simple moving average is $175.02 and its 200-day simple moving average is $178.95.

Insiders Place Their Bets

In other news, Director Janice Chaffin sold 4,000 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $171.34, for a total value of $685,360.00. Following the completion of the sale, the director now directly owns 44,137 shares of the company’s stock, valued at $7,562,433.58. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other PTC news, Director Janice Chaffin sold 4,000 shares of PTC stock in a transaction on Monday, August 12th. The shares were sold at an average price of $171.34, for a total value of $685,360.00. Following the transaction, the director now directly owns 44,137 shares in the company, valued at $7,562,433.58. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Staats Aaron C. Von sold 1,000 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $170.00, for a total transaction of $170,000.00. Following the sale, the executive vice president now owns 13,902 shares of the company’s stock, valued at approximately $2,363,340. The disclosure for this sale can be found here. Insiders have sold a total of 14,000 shares of company stock valued at $2,431,330 over the last quarter. Company insiders own 1.17% of the company’s stock.

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.