Tidal Investments LLC Buys 2,176 Shares of PTC Inc. (NASDAQ:PTC)

Tidal Investments LLC increased its stake in shares of PTC Inc. (NASDAQ:PTC - Free Report) by 16.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,558 shares of the technology company's stock after acquiring an additional 2,176 shares during the quarter. Tidal Investments LLC's holdings in PTC were worth $2,861,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of PTC. Aster Capital Management DIFC Ltd bought a new position in shares of PTC during the fourth quarter valued at about $30,000. Allworth Financial LP raised its position in PTC by 58.0% in the fourth quarter. Allworth Financial LP now owns 188 shares of the technology company's stock worth $35,000 after acquiring an additional 69 shares during the period. Kapitalo Investimentos Ltda bought a new stake in PTC in the fourth quarter worth about $51,000. Assetmark Inc. increased its stake in shares of PTC by 825.0% in the fourth quarter. Assetmark Inc. now owns 333 shares of the technology company's stock worth $61,000 after purchasing an additional 297 shares in the last quarter. Finally, New Age Alpha Advisors LLC purchased a new position in shares of PTC in the fourth quarter worth about $77,000. 95.14% of the stock is owned by institutional investors.

PTC Price Performance

PTC stock traded up $2.00 during midday trading on Tuesday, reaching $170.77. The company had a trading volume of 154,040 shares, compared to its average volume of 876,213. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.69 and a quick ratio of 0.69. PTC Inc. has a 1 year low of $133.38 and a 1 year high of $203.09. The company has a market capitalization of $20.48 billion, a P/E ratio of 52.66, a P/E/G ratio of 2.27 and a beta of 1.19. The firm has a 50-day moving average price of $156.15 and a 200-day moving average price of $173.10.

PTC (NASDAQ:PTC - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The technology company reported $1.79 EPS for the quarter, beating analysts' consensus estimates of $1.37 by $0.42. PTC had a net margin of 16.95% and a return on equity of 14.49%. The company had revenue of $636.37 million during the quarter, compared to analyst estimates of $608.64 million. During the same period in the prior year, the business posted $1.46 EPS. The firm's revenue was up 5.5% compared to the same quarter last year. On average, research analysts anticipate that PTC Inc. will post 4.46 earnings per share for the current fiscal year.

Insider Activity at PTC

In related news, EVP Staats Aaron C. Von sold 1,988 shares of the company's stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $160.00, for a total transaction of $318,080.00. Following the completion of the sale, the executive vice president now directly owns 17,731 shares in the company, valued at $2,836,960. This represents a 10.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Corinna Lathan sold 622 shares of the company's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $155.53, for a total transaction of $96,739.66. Following the completion of the transaction, the director now owns 7,604 shares of the company's stock, valued at $1,182,650.12. This trade represents a 7.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

PTC has been the subject of several recent research reports. Wall Street Zen downgraded shares of PTC from a "buy" rating to a "hold" rating in a research note on Tuesday, May 20th. KeyCorp reduced their target price on shares of PTC from $211.00 to $185.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Barclays reduced their target price on shares of PTC from $215.00 to $175.00 and set an "overweight" rating for the company in a research note on Monday, April 14th. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $160.00 target price (down previously from $210.00) on shares of PTC in a research note on Wednesday, April 9th. Finally, Piper Sandler decreased their target price on shares of PTC from $202.00 to $180.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $187.15.

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.