Prudential PLC Acquires 32,512 Shares of PTC Inc. (NASDAQ:PTC)

Prudential PLC raised its stake in shares of PTC Inc. (NASDAQ:PTC) by 123.4% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 58,849 shares of the technology company’s stock after acquiring an additional 32,512 shares during the quarter. Prudential PLC’s holdings in PTC were worth $10,691,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased 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 acquiring an additional 1,569,081 shares in the last quarter. Twin Focus Capital Partners LLC acquired a new stake in shares of PTC during the 4th quarter worth approximately $177,081,000. Norges Bank acquired a new stake in PTC during the 4th quarter worth $114,043,000. Balyasny Asset Management L.P. lifted its stake in shares of PTC by 173.8% in the 4th quarter. Balyasny Asset Management L.P. now owns 543,266 shares of the technology company’s stock valued at $95,050,000 after purchasing an additional 344,853 shares during the period. Finally, Matrix Capital Management Company LP bought a new position in shares of PTC in the 1st quarter worth $56,076,000. 95.14% of the stock is owned by institutional investors.

Insider Activity at PTC

In other news, Director Janice Chaffin sold 4,000 shares of PTC stock in a transaction that occurred on Wednesday, June 12th. The stock was sold at an average price of $178.20, for a total transaction of $712,800.00. Following the completion of the transaction, the director now directly owns 52,137 shares in the company, valued at approximately $9,290,813.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other PTC news, Director Janice Chaffin sold 4,000 shares of the stock in a transaction dated Wednesday, June 12th. The shares were sold at an average price of $178.20, for a total value of $712,800.00. Following the transaction, the director now directly owns 52,137 shares of the company’s stock, valued at approximately $9,290,813.40. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Staats Aaron C. Von sold 1,000 shares of the company’s stock in a transaction that occurred on 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 transaction, 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 ninety days, insiders sold 18,000 shares of company stock worth $3,144,130. Insiders own 1.17% of the company’s stock.

Analyst Upgrades and Downgrades

PTC has been the topic of several analyst reports. Mizuho reissued a “neutral” rating and issued a $190.00 target price (down previously from $200.00) on shares of PTC in a research note on Tuesday, June 4th. Royal Bank of Canada reiterated an “outperform” rating and set a $202.00 target price on shares of PTC in a report on Thursday, August 1st. Rosenblatt Securities lifted their price objective on PTC from $190.00 to $195.00 and gave the company a “buy” rating in a report on Thursday, August 1st. StockNews.com downgraded shares of PTC from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Finally, Piper Sandler increased their price objective on shares of PTC from $177.00 to $182.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, PTC has an average rating of “Moderate Buy” and an average price target of $200.18.

PTC Stock Performance

NASDAQ PTC opened at $167.80 on Tuesday. The firm has a market capitalization of $20.16 billion, a P/E ratio of 70.21, a price-to-earnings-growth ratio of 3.07 and a beta of 1.18. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43. The firm’s fifty day moving average price is $175.91 and its two-hundred day moving average price is $179.18. PTC Inc. has a 1 year low of $134.61 and a 1 year high of $194.24.

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.