JPMorgan Chase & Co. grew its position in PTC Inc. (NASDAQ:PTC - Free Report) by 33.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 537,989 shares of the technology company's stock after buying an additional 135,677 shares during the quarter. JPMorgan Chase & Co. owned 0.45% of PTC worth $97,193,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also made changes to their positions in PTC. Rothschild Investment LLC purchased a new stake in PTC in the 2nd quarter valued at approximately $29,000. International Assets Investment Management LLC purchased a new stake in shares of PTC in the second quarter valued at $30,000. Covestor Ltd lifted its position in shares of PTC by 70.8% in the third quarter. Covestor Ltd now owns 193 shares of the technology company's stock valued at $35,000 after acquiring an additional 80 shares in the last quarter. Brown Brothers Harriman & Co. boosted its stake in shares of PTC by 66.4% during the second quarter. Brown Brothers Harriman & Co. now owns 233 shares of the technology company's stock valued at $42,000 after acquiring an additional 93 shares during the last quarter. Finally, Brooklyn Investment Group purchased a new stake in PTC during the 3rd quarter worth about $66,000. Institutional investors and hedge funds own 95.14% of the company's stock.
Insider Buying and Selling at PTC
In other news, EVP Staats Aaron C. Von sold 5,373 shares of PTC stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $200.13, for a total transaction of $1,075,298.49. Following the sale, the executive vice president now owns 21,707 shares in the company, valued at $4,344,221.91. This trade represents a 19.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Alice Christenson sold 1,703 shares of the company's stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $193.20, for a total transaction of $329,019.60. Following the completion of the transaction, the chief accounting officer now owns 830 shares of the company's stock, valued at $160,356. This trade represents a 67.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,242 shares of company stock valued at $3,630,716 over the last three months. 1.17% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
A number of research firms have issued reports on PTC. Royal Bank of Canada upped their target price on shares of PTC from $202.00 to $230.00 and gave the company an "outperform" rating in a report on Thursday, November 7th. Berenberg Bank lowered shares of PTC from a "buy" rating to a "hold" rating and decreased their target price for the stock from $210.00 to $196.00 in a research report on Friday, November 1st. JPMorgan Chase & Co. lifted their target price on shares of PTC from $200.00 to $210.00 and gave the stock an "overweight" rating in a research note on Monday, December 2nd. Robert W. Baird increased their price target on PTC from $226.00 to $228.00 and gave the stock an "outperform" rating in a research note on Thursday, November 7th. Finally, Piper Sandler increased their target price on PTC from $182.00 to $202.00 and gave the stock a "neutral" rating in a research report on Thursday, November 7th. Four research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $207.54.
Read Our Latest Report on PTC
PTC Trading Up 0.8 %
PTC traded up $1.53 on Friday, reaching $184.54. 677,933 shares of the company's stock were exchanged, compared to its average volume of 781,866. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.78 and a current ratio of 0.78. PTC Inc. has a twelve month low of $163.30 and a twelve month high of $203.09. The company's 50 day moving average is $192.36 and its 200-day moving average is $182.48. The company has a market cap of $22.17 billion, a price-to-earnings ratio of 59.34, a PEG ratio of 2.70 and a beta of 1.18.
PTC Company Profile
(
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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