Rakuten Investment Management Inc. Makes New $1.96 Million Investment in PTC Inc. $PTC

Rakuten Investment Management Inc. acquired a new position in shares of PTC Inc. (NASDAQ:PTC) in the third quarter, HoldingsChannel.com reports. The firm acquired 9,636 shares of the technology company’s stock, valued at approximately $1,956,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Norges Bank bought a new stake in PTC during the second quarter worth about $155,673,000. CCLA Investment Management bought a new position in PTC in the second quarter valued at approximately $94,629,000. Vanguard Group Inc. increased its position in shares of PTC by 2.9% during the 2nd quarter. Vanguard Group Inc. now owns 14,748,971 shares of the technology company’s stock worth $2,541,838,000 after purchasing an additional 416,791 shares during the last quarter. Lazard Asset Management LLC raised its stake in shares of PTC by 31.4% during the 2nd quarter. Lazard Asset Management LLC now owns 1,547,622 shares of the technology company’s stock worth $266,715,000 after purchasing an additional 370,097 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of PTC by 8.4% in 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 buying an additional 265,558 shares during the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

PTC Stock Down 1.6%

Shares of PTC opened at $162.14 on Friday. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $19.28 billion, a PE ratio of 26.41, a P/E/G ratio of 2.75 and a beta of 1.01. The firm’s 50 day moving average is $172.87 and its 200-day moving average is $192.21. PTC Inc. has a 12 month low of $133.38 and a 12 month high of $219.69.

PTC (NASDAQ:PTC) last issued its quarterly earnings results on Friday, November 21st. The technology company reported $2.10 earnings per share (EPS) for the quarter. The business had revenue of $1.76 billion for the quarter. PTC had a return on equity of 23.02% and a net margin of 27.05%. Equities research analysts forecast that PTC Inc. will post 4.46 EPS for the current year.

Insiders Place Their Bets

In other PTC news, 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 transaction, the executive vice president directly owned 12,386 shares of the company’s stock, valued at $2,144,512.04. This trade represents a 80.24% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Staats Aaron C. Von sold 6,328 shares of the company’s stock in a transaction that occurred on Monday, December 8th. The stock was 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 approximately $3,925,958.19. This trade represents a 21.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 61,277 shares of company stock worth $10,624,076 in the last 90 days. 0.29% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Robert W. Baird set a $255.00 price target on shares of PTC in a research report on Wednesday, October 22nd. BMO Capital Markets dropped their target price on shares of PTC from $231.00 to $219.00 and set an “outperform” rating on the stock in a report on Thursday, November 6th. Weiss Ratings cut PTC from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, January 12th. Wall Street Zen upgraded PTC from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 3rd. Finally, Piper Sandler reduced their price objective on shares of PTC from $200.00 to $175.00 and set a “neutral” rating for the company in a research report on Friday, November 7th. Eleven equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $205.92.

PTC Company 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.