Ground Swell Capital LLC Makes New $913,000 Investment in PTC Inc. (NASDAQ:PTC)

Ground Swell Capital LLC bought a new stake in PTC Inc. (NASDAQ:PTC - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 5,028 shares of the technology company's stock, valued at approximately $913,000. PTC comprises approximately 0.7% of Ground Swell Capital LLC's investment portfolio, making the stock its 15th biggest position.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. increased its stake in PTC by 77.5% in the second quarter. First Horizon Advisors Inc. now owns 142 shares of the technology company's stock valued at $26,000 after purchasing an additional 62 shares during the last quarter. Blue Trust Inc. increased its stake in shares of PTC by 762.5% during the 2nd quarter. Blue Trust Inc. now owns 138 shares of the technology company's stock valued at $26,000 after acquiring an additional 122 shares during the last quarter. Rothschild Investment LLC purchased a new position in shares of PTC during the 2nd quarter worth about $29,000. International Assets Investment Management LLC purchased a new position in PTC during the second quarter worth approximately $30,000. Finally, OFI Invest Asset Management acquired a new position in shares of PTC in the 2nd quarter valued at $31,000. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other PTC news, Director Robert Schechter sold 5,000 shares of PTC stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $171.73, for a total transaction of $858,650.00. Following the sale, the director now owns 59,616 shares of the company's stock, valued at approximately $10,237,855.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Janice Chaffin sold 4,000 shares of the business's stock in a transaction that occurred on 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 of the company's stock, valued at $7,562,433.58. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robert Schechter sold 5,000 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $171.73, for a total value of $858,650.00. Following the transaction, the director now directly owns 59,616 shares of the company's stock, valued at $10,237,855.68. The disclosure for this sale can be found here. Insiders sold 14,000 shares of company stock valued at $2,431,330 in the last three months. 1.17% of the stock is currently owned by corporate insiders.

PTC Stock Performance

Shares of NASDAQ:PTC traded up $1.75 during trading hours on Wednesday, hitting $168.69. The stock had a trading volume of 847,438 shares, compared to its average volume of 829,958. 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's fifty day simple moving average is $175.59 and its 200 day simple moving average is $179.08. The firm has a market capitalization of $20.19 billion, a price-to-earnings ratio of 70.56, a PEG ratio of 3.07 and a beta of 1.18. PTC Inc. has a 1-year low of $134.61 and a 1-year high of $194.24.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on PTC. StockNews.com lowered PTC from a "buy" rating to a "hold" rating in a research report on Monday, August 5th. Mizuho reiterated a "neutral" rating and set a $190.00 target price (down from $200.00) on shares of PTC in a report on Tuesday, June 4th. Rosenblatt Securities increased their price target on PTC from $190.00 to $195.00 and gave the company a "buy" rating in a report on Thursday, August 1st. Piper Sandler lifted their price target 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. Finally, Royal Bank of Canada reiterated an "outperform" rating and set a $202.00 price objective on shares of PTC in a research note on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $200.18.

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.