GAMMA Investing LLC Sells 228 Shares of PTC Inc. (NASDAQ:PTC)

by · The Markets Daily

GAMMA Investing LLC cut its position in shares of PTC Inc. (NASDAQ:PTC – Free Report) by 14.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,392 shares of the technology company’s stock after selling 228 shares during the quarter. GAMMA Investing LLC’s holdings in PTC were worth $251,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Wellington Management Group LLP grew its stake in shares of 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 worth $294,006,000 after acquiring an additional 1,569,081 shares in the last quarter. Twin Focus Capital Partners LLC acquired a new stake in PTC in the 4th quarter valued at $177,081,000. Massachusetts Financial Services Co. MA lifted its position in PTC by 66.9% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 773,804 shares of the technology company’s stock worth $140,577,000 after buying an additional 310,092 shares in the last quarter. Matrix Capital Management Company LP acquired a new position in shares of PTC during the 1st quarter worth about $56,076,000. Finally, Vanguard Group Inc. grew its holdings in shares of PTC by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 13,740,919 shares of the technology company’s stock valued at $2,596,209,000 after acquiring an additional 205,673 shares in the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

Insiders Place Their Bets

In related news, EVP Staats Aaron C. Von sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 6th. The stock was sold at an average price of $170.00, for a total value of $170,000.00. Following the completion of the sale, the executive vice president now directly owns 13,902 shares in the company, valued at approximately $2,363,340. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, EVP Staats Aaron C. Von sold 1,000 shares of the business’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $170.00, for a total value of $170,000.00. Following the completion of the transaction, the executive vice president now owns 13,902 shares of the company’s stock, valued at $2,363,340. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Janice Chaffin sold 4,000 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $171.34, for a total transaction of $685,360.00. Following the sale, the director now owns 44,137 shares in the company, valued at $7,562,433.58. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 10,000 shares of company stock worth $1,714,010 in the last quarter. 1.17% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently commented on PTC shares. Piper Sandler increased their price target on PTC from $177.00 to $182.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. StockNews.com cut shares of PTC from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Royal Bank of Canada restated an “outperform” rating and set a $202.00 target price on shares of PTC in a report on Thursday, August 1st. Finally, Rosenblatt Securities reiterated a “buy” rating and issued a $195.00 price target on shares of PTC in a research note on Thursday. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $200.18.

Get Our Latest Report on PTC

PTC Stock Down 0.7 %

Shares of PTC opened at $180.39 on Friday. The firm’s 50-day simple moving average is $174.55 and its 200 day simple moving average is $177.89. 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 firm has a market cap of $21.59 billion, a P/E ratio of 75.48, a price-to-earnings-growth ratio of 2.58 and a beta of 1.17. PTC Inc. has a 52 week low of $134.61 and a 52 week high of $194.24.

PTC (NASDAQ:PTC – Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The technology company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.02. PTC had a return on equity of 13.36% and a net margin of 13.32%. The business had revenue of $518.64 million during the quarter, compared to the consensus estimate of $533.04 million. On average, analysts forecast that PTC Inc. will post 3.52 earnings per share for the current year.

About PTC

(Free Report)

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.

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