Point72 Hong Kong Ltd Makes New Investment in PTC Inc. (NASDAQ:PTC)

Point72 Hong Kong Ltd purchased a new position in shares of PTC Inc. (NASDAQ:PTC - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 3,349 shares of the technology company's stock, valued at approximately $616,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Aster Capital Management DIFC Ltd acquired a new position in shares of PTC during the 4th quarter valued at $30,000. Allworth Financial LP raised its holdings in shares of PTC by 58.0% during the fourth quarter. Allworth Financial LP now owns 188 shares of the technology company's stock valued at $35,000 after purchasing an additional 69 shares during the period. Kapitalo Investimentos Ltda acquired a new position in shares of PTC during the fourth quarter valued at about $51,000. Assetmark Inc. boosted its position in shares of PTC by 825.0% during the 4th 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 acquired a new stake in shares of PTC in the 4th quarter valued at about $77,000. 95.14% of the stock is currently owned by institutional investors.

Insider Activity

In other PTC news, EVP Staats Aaron C. Von sold 1,988 shares of the stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $160.00, for a total transaction of $318,080.00. Following the completion of the transaction, the executive vice president now directly owns 17,731 shares of the company's stock, valued at approximately $2,836,960. This represents a 10.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Corinna Lathan sold 622 shares of the firm's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $155.53, for a total value of $96,739.66. Following the completion of the sale, the director now directly owns 7,604 shares of the company's stock, valued at $1,182,650.12. This represents a 7.56% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.32% of the company's stock.

PTC Price Performance

PTC stock opened at $172.91 on Friday. PTC Inc. has a 52 week low of $133.38 and a 52 week high of $203.09. The company's 50 day moving average price is $154.62 and its two-hundred day moving average price is $174.11. The stock has a market cap of $20.74 billion, a P/E ratio of 53.37, a P/E/G ratio of 2.27 and a beta of 1.19. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.32.

PTC (NASDAQ:PTC - Get Free Report) last issued 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 return on equity of 14.49% and a net margin of 16.95%. The company had revenue of $636.37 million during the quarter, compared to the consensus estimate of $608.64 million. During the same period last year, the business posted $1.46 earnings per share. PTC's revenue was up 5.5% on a year-over-year basis. On average, equities analysts predict that PTC Inc. will post 4.46 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PTC. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $160.00 price target (down previously from $210.00) on shares of PTC in a report on Wednesday, April 9th. Rosenblatt Securities reiterated a "buy" rating and issued a $204.00 target price on shares of PTC in a report on Thursday, May 1st. KeyCorp decreased their price target 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. BMO Capital Markets raised their price objective on shares of PTC from $183.00 to $187.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Finally, Citigroup reduced their price objective on shares of PTC from $200.00 to $195.00 and set a "neutral" rating for the company in a report on Wednesday, February 5th. Five research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, PTC presently has an average rating of "Moderate Buy" and a consensus target price of $187.15.

PTC 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.

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