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Townsquare Capital LLC Sells 12,916 Shares of PTC Inc. (NASDAQ:PTC)

PTC logo with Computer and Technology background

Key Points

  • Townsquare Capital LLC has reduced its stake in PTC Inc. by 35%, selling 12,916 shares and now holding 23,938 shares valued at approximately $3.7 million.
  • PTC reported a quarterly earnings per share (EPS) of $1.64, which exceeded analyst expectations of $1.22, alongside a year-over-year revenue increase of 24.2%.
  • Analysts have shown confidence in PTC, with multiple firms upgrading their target prices, including an increase by BMO Capital Markets to $231.00 and Oppenheimer to $240.00.
  • Want stock alerts on PTC? Get 5 Weeks of MarketBeat All Access for $5. Get My Stock Alerts.

Townsquare Capital LLC lowered its position in PTC Inc. (NASDAQ:PTC - Free Report) by 35.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 23,938 shares of the technology company's stock after selling 12,916 shares during the quarter. Townsquare Capital LLC's holdings in PTC were worth $3,709,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently bought and sold shares of PTC. Forsta AP Fonden raised its holdings in PTC by 0.4% in the 1st quarter. Forsta AP Fonden now owns 24,800 shares of the technology company's stock valued at $3,843,000 after acquiring an additional 100 shares during the last quarter. Citigroup Inc. lifted its holdings in PTC by 139.1% in the first quarter. Citigroup Inc. now owns 215,186 shares of the technology company's stock worth $33,343,000 after acquiring an additional 125,196 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in PTC by 8.8% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 230,315 shares of the technology company's stock worth $35,687,000 after buying an additional 18,537 shares during the last quarter. Headlands Technologies LLC increased its position in PTC by 81.5% in the first quarter. Headlands Technologies LLC now owns 5,175 shares of the technology company's stock worth $802,000 after buying an additional 2,324 shares during the period. Finally, Ontario Teachers Pension Plan Board bought a new stake in PTC in the first quarter valued at $520,000. Hedge funds and other institutional investors own 95.14% of the company's stock.

PTC Stock Down 0.2%

NASDAQ PTC traded down $0.36 during trading hours on Thursday, hitting $208.01. 609,513 shares of the company were exchanged, compared to its average volume of 1,073,101. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.34. PTC Inc. has a 52-week low of $133.38 and a 52-week high of $219.69. The firm has a market cap of $24.92 billion, a price-to-earnings ratio of 49.06, a PEG ratio of 2.17 and a beta of 1.17. The company has a 50 day moving average of $187.84 and a two-hundred day moving average of $171.08.

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

Insider Buying and Selling

In other PTC news, EVP Staats Aaron C. Von sold 1,988 shares of the firm's stock in a transaction dated Wednesday, August 6th. The shares were sold at an average price of $216.29, for a total value of $429,984.52. Following the completion of the transaction, the executive vice president directly owned 15,743 shares in the company, valued at $3,405,053.47. This trade represents a 11.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.32% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

PTC has been the subject of a number of research analyst reports. Piper Sandler upped their price target on shares of PTC from $180.00 to $200.00 and gave the stock a "neutral" rating in a research note on Thursday, July 31st. Rosenblatt Securities reissued a "buy" rating and issued a $204.00 price target on shares of PTC in a research note on Tuesday, July 29th. KeyCorp reaffirmed an "overweight" rating and set a $245.00 price objective (up from $192.00) on shares of PTC in a research note on Thursday, July 31st. Barclays set a $233.00 target price on shares of PTC in a research report on Thursday, July 31st. Finally, Cantor Fitzgerald set a $120.00 price target on shares of PTC and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, PTC presently has an average rating of "Moderate Buy" and a consensus target price of $202.14.

View Our Latest Analysis on PTC

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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Institutional Ownership by Quarter for PTC (NASDAQ:PTC)

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