Mizuho Securities USA LLC Sells 1,752 Shares of PTC Inc. (NASDAQ:PTC)

Key Points

• Mizuho Securities USA LLC reduced its holdings in PTC Inc. by 15.4% during the first quarter, now owning 9,634 shares worth approximately $1.49 million.
• Several other institutional investors increased their stakes in PTC, with T. Rowe Price boosting its investment by 11.4% and GAMMA Investing LLC increasing its stake by an astonishing 13,184.0%.
• PTC recently reported earnings of $1.64 EPS, beating expectations, and generated $643.94 million in revenue, exceeding analyst projections by nearly 24.2% year-over-year.

Mizuho Securities USA LLC trimmed its position in shares of PTC Inc. (NASDAQ:PTC - Free Report) by 15.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,634 shares of the technology company's stock after selling 1,752 shares during the period. Mizuho Securities USA LLC's holdings in PTC were worth $1,493,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PTC. Townsquare Capital LLC raised its holdings in shares of PTC by 4.2% during the fourth quarter. Townsquare Capital LLC now owns 36,854 shares of the technology company's stock valued at $6,776,000 after acquiring an additional 1,471 shares during the period. Mariner LLC raised its holdings in shares of PTC by 3.7% during the fourth quarter. Mariner LLC now owns 12,748 shares of the technology company's stock valued at $2,344,000 after acquiring an additional 450 shares during the period. Canada Post Corp Registered Pension Plan acquired a new stake in shares of PTC during the fourth quarter valued at approximately $295,000. NewEdge Advisors LLC raised its holdings in shares of PTC by 4.3% during the fourth quarter. NewEdge Advisors LLC now owns 9,070 shares of the technology company's stock valued at $1,668,000 after acquiring an additional 374 shares during the period. Finally, Marshall Wace LLP acquired a new stake in shares of PTC during the fourth quarter valued at approximately $10,023,000. 95.14% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently commented on PTC shares. Piper Sandler boosted their price objective on shares of PTC from $180.00 to $200.00 and gave the company a "neutral" rating in a research report on Thursday, July 31st. Oppenheimer boosted their price objective on shares of PTC from $225.00 to $240.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Cantor Fitzgerald set a $120.00 price objective on shares of PTC and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Wall Street Zen raised shares of PTC from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 9th. Finally, BMO Capital Markets boosted their target price on shares of PTC from $187.00 to $231.00 and gave the stock an "outperform" rating in a research report on Thursday, July 31st. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, PTC has a consensus rating of "Moderate Buy" and a consensus target price of $202.14.

PTC Price Performance

Shares of PTC stock traded down $2.17 during mid-day trading on Friday, reaching $205.84. The company's stock had a trading volume of 1,366,154 shares, compared to its average volume of 966,363. PTC Inc. has a 1-year low of $133.38 and a 1-year high of $219.69. The company has a market cap of $24.66 billion, a P/E ratio of 48.55, a PEG ratio of 2.21 and a beta of 1.17. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.89 and a current ratio of 0.89. The firm's 50-day moving average is $189.35 and its two-hundred day moving average is $171.31.

PTC (NASDAQ:PTC - Get Free Report) last announced its earnings results on Wednesday, July 30th. The technology company reported $1.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.22 by $0.42. The business had revenue of $643.94 million during the quarter, compared to analysts' expectations of $582.12 million. PTC had a net margin of 20.74% and a return on equity of 17.09%. The firm's revenue for the quarter was up 24.2% on a year-over-year basis. During the same quarter last year, the company posted $0.98 EPS. On average, research analysts predict that PTC Inc. will post 4.46 earnings per share for the current year.

Insider Activity

In other PTC news, EVP Staats Aaron C. Von sold 1,988 shares of the stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $216.29, for a total transaction of $429,984.52. Following the sale, the executive vice president owned 15,743 shares of the company's stock, valued at $3,405,053.47. This represents a 11.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.32% of the stock is owned by company insiders.

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.