PTC Inc. (NASDAQ:PTC) Shares Bought by Townsquare Capital LLC

Townsquare Capital LLC grew its stake in PTC Inc. (NASDAQ:PTC) by 67.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 35,383 shares of the technology company’s stock after purchasing an additional 14,216 shares during the period. Townsquare Capital LLC’s holdings in PTC were worth $6,392,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. BNP Paribas Financial Markets raised its holdings in PTC by 103.3% during the third quarter. BNP Paribas Financial Markets now owns 185,050 shares of the technology company’s stock worth $33,431,000 after purchasing an additional 94,046 shares in the last quarter. Brooklyn Investment Group acquired a new position in PTC during the 3rd quarter worth approximately $66,000. Quantbot Technologies LP purchased a new position in shares of PTC during the 3rd quarter worth approximately $3,681,000. Mirabella Financial Services LLP lifted its holdings in shares of PTC by 542.2% in the 3rd quarter. Mirabella Financial Services LLP now owns 20,686 shares of the technology company’s stock valued at $3,640,000 after buying an additional 17,465 shares during the period. Finally, Fisher Asset Management LLC boosted its stake in shares of PTC by 27.1% in the third quarter. Fisher Asset Management LLC now owns 43,932 shares of the technology company’s stock valued at $7,937,000 after buying an additional 9,371 shares in the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on PTC shares. Royal Bank of Canada raised their target price on PTC from $202.00 to $230.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Berenberg Bank cut shares of PTC from a “buy” rating to a “hold” rating and reduced their price objective for the company from $210.00 to $196.00 in a research note on Friday, November 1st. Piper Sandler upped their target price on shares of 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 target on shares of PTC in a research note on Thursday, October 10th. Finally, Robert W. Baird raised their price objective on PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $204.83.

Insider Activity at PTC

In other PTC news, CAO Alice Christenson sold 1,703 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $193.20, for a total value of $329,019.60. Following the completion of the transaction, the chief accounting officer now directly owns 830 shares in the company, valued at approximately $160,356. The trade was a 67.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Corinna Lathan sold 860 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $200.00, for a total value of $172,000.00. Following the sale, the director now owns 6,843 shares in the company, 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 own 1.17% of the company’s stock.

PTC Price Performance

NASDAQ:PTC opened at $199.01 on Friday. PTC Inc. has a 12-month low of $153.44 and a 12-month high of $201.66. The firm has a market cap of $23.91 billion, a price-to-earnings ratio of 63.99, a price-to-earnings-growth ratio of 2.72 and a beta of 1.17. The company’s 50-day moving average is $186.24 and its two-hundred day moving average is $179.84. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.38.

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.