Point72 Asia Singapore Pte. Ltd. Purchases New Position in PTC Inc. (NASDAQ:PTC)

Point72 Asia Singapore Pte. Ltd. acquired a new stake in PTC Inc. (NASDAQ:PTC) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 437 shares of the technology company’s stock, valued at approximately $80,000.

Other hedge funds also recently made changes to their positions in the company. Aster Capital Management DIFC Ltd acquired a new position in shares of PTC during the fourth quarter worth about $30,000. Allworth Financial LP lifted its position in PTC by 58.0% in 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 purchased a new stake in PTC in the 4th quarter valued at approximately $51,000. Assetmark Inc. increased its position in 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 during the period. Finally, New Age Alpha Advisors LLC acquired a new position in PTC during the 4th quarter worth approximately $77,000. Hedge funds and other institutional investors own 95.14% of the company’s stock.

PTC Stock Up 0.6%

Shares of NASDAQ:PTC opened at $172.91 on Friday. The company has a market capitalization of $20.74 billion, a price-to-earnings ratio of 53.37, a price-to-earnings-growth ratio of 2.27 and a beta of 1.19. The company has a 50 day moving average of $154.62 and a two-hundred day moving average of $174.02. PTC Inc. has a 52-week low of $133.38 and a 52-week high of $203.09. 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) last announced its earnings results on Wednesday, April 30th. The technology company reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.37 by $0.42. PTC had a net margin of 16.95% and a return on equity of 14.49%. The business had revenue of $636.37 million during the quarter, compared to the consensus estimate of $608.64 million. During the same period in the prior year, the firm earned $1.46 earnings per share. The business’s quarterly revenue was up 5.5% compared to the same quarter last year. As a group, analysts forecast that PTC Inc. will post 4.46 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

PTC has been the topic of several recent analyst reports. JPMorgan Chase & Co. restated a “neutral” rating and set a $160.00 target price (down from $210.00) on shares of PTC in a research report on Wednesday, April 9th. Robert W. Baird boosted their price target on PTC from $185.00 to $191.00 and gave the stock an “outperform” rating in a research note on Thursday, May 1st. StockNews.com raised PTC from a “hold” rating to a “buy” rating in a research note on Monday, May 5th. Citigroup reduced their price objective on PTC from $200.00 to $195.00 and set a “neutral” rating for the company in a report on Wednesday, February 5th. Finally, BMO Capital Markets boosted their target price on PTC from $183.00 to $187.00 and gave the stock an “outperform” rating in a research report on Thursday, May 1st. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, PTC presently has a consensus rating of “Moderate Buy” and a consensus target price of $187.15.

Insider Buying and Selling

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

About PTC

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.