Rakuten Investment Management Inc. Invests $1.96 Million in PTC Inc. $PTC

Rakuten Investment Management Inc. acquired a new stake in PTC Inc. (NASDAQ:PTC) during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 9,636 shares of the technology company’s stock, valued at approximately $1,956,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Campbell Newman Asset Management Inc. lifted its stake in shares of PTC by 0.4% in the 3rd quarter. Campbell Newman Asset Management Inc. now owns 12,147 shares of the technology company’s stock valued at $2,466,000 after purchasing an additional 49 shares during the period. Diversified Trust Co increased its holdings in PTC by 2.5% in the third quarter. Diversified Trust Co now owns 2,209 shares of the technology company’s stock valued at $448,000 after purchasing an additional 53 shares during the last quarter. Versant Capital Management Inc lifted its stake in PTC by 37.6% in the third quarter. Versant Capital Management Inc now owns 194 shares of the technology company’s stock valued at $39,000 after buying an additional 53 shares during the period. Archford Capital Strategies LLC lifted its stake in PTC by 1.4% in the third quarter. Archford Capital Strategies LLC now owns 4,695 shares of the technology company’s stock valued at $953,000 after buying an additional 63 shares during the period. Finally, Bellecapital International Ltd. boosted its holdings in PTC by 4.3% during the second quarter. Bellecapital International Ltd. now owns 1,604 shares of the technology company’s stock worth $276,000 after buying an additional 66 shares during the last quarter. 95.14% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. BMO Capital Markets lowered their price target on PTC from $231.00 to $219.00 and set an “outperform” rating for the company in a research note on Thursday, November 6th. Piper Sandler decreased their price objective on shares of PTC from $200.00 to $175.00 and set a “neutral” rating for the company in a report on Friday, November 7th. Rosenblatt Securities cut their target price on shares of PTC from $227.00 to $220.00 and set a “buy” rating on the stock in a report on Thursday, November 6th. Wall Street Zen raised shares of PTC from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 3rd. Finally, Robert W. Baird set a $255.00 price objective on shares of PTC in a research report on Wednesday, October 22nd. Eleven investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, PTC has a consensus rating of “Moderate Buy” and a consensus price target of $205.92.

Insider Activity

In related news, EVP Staats Aaron C. Von sold 6,328 shares of the stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $174.79, for a total transaction of $1,106,071.12. Following the completion of the transaction, the executive vice president directly owned 22,461 shares in the company, valued at approximately $3,925,958.19. This trade represents a 21.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Kristian Talvitie sold 50,291 shares of PTC stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $173.14, for a total value of $8,707,383.74. Following the completion of the sale, the executive vice president directly owned 12,386 shares in the company, valued at approximately $2,144,512.04. This represents a 80.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 61,277 shares of company stock valued at $10,624,076 over the last ninety days. 0.29% of the stock is owned by insiders.

PTC Stock Down 1.6%

Shares of PTC stock opened at $162.14 on Friday. PTC Inc. has a 12-month low of $133.38 and a 12-month high of $219.69. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.31. The firm has a fifty day moving average of $172.87 and a 200-day moving average of $192.21. The company has a market capitalization of $19.28 billion, a price-to-earnings ratio of 26.41, a P/E/G ratio of 2.75 and a beta of 1.01.

PTC (NASDAQ:PTC) last announced its earnings results on Friday, November 21st. The technology company reported $2.10 earnings per share for the quarter. The firm had revenue of $1.76 billion during the quarter. PTC had a net margin of 27.05% and a return on equity of 23.02%. As a group, equities research analysts predict that PTC Inc. will post 4.46 earnings per share for the current fiscal year.

PTC Company Profile

PTC Inc (NASDAQ: PTC) is a global technology company that develops software and services to help manufacturers design, operate, and service physical products. Founded in 1985 as Parametric Technology Corporation, PTC pioneered parametric, feature-based CAD with its Pro/ENGINEER product (now marketed as Creo) and has since expanded its portfolio to address product lifecycle management, Internet of Things (IoT), augmented reality (AR) and industrial connectivity.

Key product lines include Creo for 3D CAD; Windchill for product lifecycle management (PLM); ThingWorx, an IoT platform for connecting devices and building industrial applications; Vuforia, an AR platform for creating immersive service and training experiences; and Kepware, a suite for industrial connectivity and protocol translation.