Tealwood Asset Management Inc. grew its position in shares of PTC Inc. (NASDAQ:PTC – Free Report) by 1.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,986 shares of the technology company’s stock after buying an additional 128 shares during the period. Tealwood Asset Management Inc.’s holdings in PTC were worth $1,652,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Fernbridge Capital Management LP lifted its holdings in PTC by 83.7% during the third quarter. Fernbridge Capital Management LP now owns 1,429,005 shares of the technology company’s stock valued at $258,164,000 after purchasing an additional 650,990 shares during the last quarter. Congress Asset Management Co. raised its position in shares of PTC by 767.8% in the third quarter. Congress Asset Management Co. now owns 662,826 shares of the technology company’s stock valued at $119,746,000 after purchasing an additional 586,443 shares during the period. D1 Capital Partners L.P. purchased a new stake in shares of PTC during the 3rd quarter valued at approximately $84,549,000. Massachusetts Financial Services Co. MA boosted its holdings in PTC by 66.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 773,804 shares of the technology company’s stock worth $140,577,000 after buying an additional 310,092 shares during the period. Finally, JPMorgan Chase & Co. grew its stake in PTC by 33.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 537,989 shares of the technology company’s stock valued at $97,193,000 after buying an additional 135,677 shares in the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.
Insider Buying and Selling at PTC
In other news, EVP Staats Aaron C. Von sold 5,373 shares of the business’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $200.13, for a total value of $1,075,298.49. Following the completion of the sale, the executive vice president now directly owns 21,707 shares in the company, valued at approximately $4,344,221.91. The trade was a 19.84 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Corinna Lathan sold 860 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $200.00, for a total transaction of $172,000.00. Following the completion of the sale, the director now directly owns 6,843 shares of the company’s stock, valued at $1,368,600. This trade represents a 11.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,242 shares of company stock worth $3,630,716 over the last 90 days. Corporate insiders own 0.32% of the company’s stock.
PTC Stock Performance
Analyst Ratings Changes
PTC has been the topic of several recent research reports. Piper Sandler increased their target price on PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Rosenblatt Securities reissued a “buy” rating and set a $195.00 price objective on shares of PTC in a report on Thursday, October 10th. StockNews.com raised PTC from a “hold” rating to a “buy” rating in a report on Friday, November 8th. JPMorgan Chase & Co. increased their price target on shares of PTC from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. Finally, Royal Bank of Canada boosted their price objective on shares of PTC from $202.00 to $230.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Four analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, PTC presently has an average rating of “Moderate Buy” and an average price target of $207.54.
PTC Company 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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