Edgestream Partners L.P. Has $1.40 Million Stake in PTC Inc. (NASDAQ:PTC)

Edgestream Partners L.P. trimmed its position in shares of PTC Inc. (NASDAQ:PTC) by 43.9% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,711 shares of the technology company’s stock after selling 6,026 shares during the quarter. Edgestream Partners L.P.’s holdings in PTC were worth $1,401,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. raised its position in PTC by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 13,740,919 shares of the technology company’s stock valued at $2,596,209,000 after buying an additional 205,673 shares during the last quarter. Wellington Management Group LLP raised its position in PTC by 1,409.3% in the 4th quarter. Wellington Management Group LLP now owns 1,680,421 shares of the technology company’s stock valued at $294,006,000 after buying an additional 1,569,081 shares during the last quarter. Impax Asset Management Group plc raised its position in PTC by 4.4% in the 2nd quarter. Impax Asset Management Group plc now owns 1,141,782 shares of the technology company’s stock valued at $206,091,000 after buying an additional 48,553 shares during the last quarter. Bank of New York Mellon Corp raised its position in PTC by 18.4% in the 1st quarter. Bank of New York Mellon Corp now owns 1,066,671 shares of the technology company’s stock valued at $201,537,000 after buying an additional 166,112 shares during the last quarter. Finally, Twin Focus Capital Partners LLC purchased a new stake in PTC in the 4th quarter valued at $177,081,000. 95.14% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Staats Aaron C. Von sold 1,000 shares of the stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $170.00, for a total transaction of $170,000.00. Following the sale, the executive vice president now owns 13,902 shares of the company’s stock, valued at approximately $2,363,340. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other PTC news, Director Janice Chaffin sold 4,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $171.34, for a total value of $685,360.00. Following the sale, the director now owns 44,137 shares of the company’s stock, valued at approximately $7,562,433.58. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Staats Aaron C. Von sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $170.00, for a total value of $170,000.00. Following the completion of the sale, the executive vice president now directly owns 13,902 shares in the company, valued at approximately $2,363,340. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,000 shares of company stock valued at $2,431,330. Corporate insiders own 1.17% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on PTC shares. StockNews.com lowered PTC from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. Mizuho restated a “neutral” rating and issued a $190.00 price objective (down previously from $200.00) on shares of PTC in a research note on Tuesday, June 4th. Rosenblatt Securities upped their price objective on PTC from $190.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Royal Bank of Canada restated an “outperform” rating and issued a $202.00 price objective on shares of PTC in a research note on Thursday, August 1st. Finally, Piper Sandler upped their price objective on PTC from $177.00 to $182.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, PTC has a consensus rating of “Moderate Buy” and an average target price of $200.18.

PTC Stock Down 1.8 %

PTC stock opened at $175.90 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.70. The company has a market capitalization of $21.13 billion, a price-to-earnings ratio of 73.60, a PEG ratio of 3.24 and a beta of 1.18. PTC Inc. has a fifty-two week low of $134.61 and a fifty-two week high of $194.24. The stock has a fifty day moving average of $174.25 and a 200-day moving average of $178.58.

PTC (NASDAQ:PTC) last issued its quarterly earnings data on Wednesday, July 31st. The technology company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. The business had revenue of $518.64 million for the quarter, compared to analysts’ expectations of $533.04 million. PTC had a return on equity of 13.36% and a net margin of 13.32%. As a group, equities research analysts predict that PTC Inc. will post 3.52 earnings per share for the current year.

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.