Geode Capital Management LLC Acquires 37,645 Shares of PTC Inc. (NASDAQ:PTC)

Geode Capital Management LLC grew its holdings in shares of PTC Inc. (NASDAQ:PTC) by 1.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,961,897 shares of the technology company’s stock after purchasing an additional 37,645 shares during the quarter. Geode Capital Management LLC owned about 2.47% of PTC worth $533,341,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Resources Management Corp CT ADV lifted its position in shares of PTC by 78.3% in the third quarter. Resources Management Corp CT ADV now owns 1,271 shares of the technology company’s stock worth $230,000 after buying an additional 558 shares during the last quarter. M&T Bank Corp raised its stake in shares of PTC by 70.4% in the 3rd quarter. M&T Bank Corp now owns 7,737 shares of the technology company’s stock valued at $1,397,000 after acquiring an additional 3,196 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in PTC by 13.5% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 36,646 shares of the technology company’s stock worth $6,620,000 after purchasing an additional 4,364 shares during the last quarter. MML Investors Services LLC boosted its position in PTC by 67.0% during the third quarter. MML Investors Services LLC now owns 3,181 shares of the technology company’s stock worth $575,000 after purchasing an additional 1,276 shares during the period. Finally, Orion Portfolio Solutions LLC grew its holdings in PTC by 30.8% during the third quarter. Orion Portfolio Solutions LLC now owns 5,651 shares of the technology company’s stock valued at $1,021,000 after purchasing an additional 1,332 shares during the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

Insider Buying and Selling at PTC

In other news, CAO Alice Christenson sold 1,703 shares of the company’s stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 830 shares in the company, valued at approximately $160,356. This represents a 67.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Corinna Lathan sold 860 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 6,843 shares of the company’s stock, valued at approximately $1,368,600. The trade was a 11.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,242 shares of company stock valued at $3,630,716 in the last 90 days. 1.17% of the stock is currently owned by company insiders.

PTC Stock Performance

PTC opened at $201.30 on Friday. The stock’s 50 day simple moving average is $190.66 and its 200-day simple moving average is $181.07. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.38. The stock has a market cap of $24.18 billion, a PE ratio of 64.73, a P/E/G ratio of 2.74 and a beta of 1.16. PTC Inc. has a 1 year low of $163.30 and a 1 year high of $203.09.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PTC. Berenberg Bank cut shares of PTC from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $210.00 to $196.00 in a research note on Friday, November 1st. Piper Sandler boosted 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. Robert W. Baird raised their price target on PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Royal Bank of Canada boosted their price objective on PTC from $202.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Finally, JPMorgan Chase & Co. raised their target price on PTC from $200.00 to $210.00 and gave the company an “overweight” rating in a report on Monday, December 2nd. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $205.67.

PTC 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.