Ground Swell Capital LLC Cuts Holdings in PTC Inc. (NASDAQ:PTC)

Ground Swell Capital LLC reduced its stake in shares of PTC Inc. (NASDAQ:PTC) by 74.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 1,292 shares of the technology company’s stock after selling 3,736 shares during the period. Ground Swell Capital LLC’s holdings in PTC were worth $233,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its holdings in shares of PTC by 1.5% in the 1st quarter. Vanguard Group Inc. now owns 13,740,919 shares of the technology company’s stock worth $2,596,209,000 after acquiring an additional 205,673 shares during the last quarter. Impax Asset Management Group plc lifted its stake in shares of 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 acquiring an additional 48,553 shares during the last quarter. Liontrust Investment Partners LLP boosted its holdings in PTC by 1.0% during the 2nd quarter. Liontrust Investment Partners LLP now owns 1,003,922 shares of the technology company’s stock valued at $182,383,000 after acquiring an additional 10,338 shares during the period. Price T Rowe Associates Inc. MD grew its position in PTC by 4.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 875,282 shares of the technology company’s stock worth $165,377,000 after acquiring an additional 40,462 shares during the last quarter. Finally, Fernbridge Capital Management LP increased its stake in PTC by 6.3% in the 2nd quarter. Fernbridge Capital Management LP now owns 778,015 shares of the technology company’s stock worth $141,342,000 after purchasing an additional 46,286 shares during the period. Institutional investors own 95.14% of the company’s stock.

Insider Transactions at PTC

In related news, Director Janice Chaffin sold 4,000 shares of the company’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $171.34, for a total value of $685,360.00. Following the transaction, the director now owns 44,137 shares in the company, valued at $7,562,433.58. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, EVP Staats Aaron C. Von sold 1,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was 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 owns 13,902 shares in the company, valued at $2,363,340. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Janice Chaffin sold 4,000 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $171.34, for a total value of $685,360.00. Following the sale, the director now directly owns 44,137 shares in the company, valued at $7,562,433.58. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,000 shares of company stock valued at $1,714,010 in the last ninety days. 1.17% of the stock is currently owned by corporate insiders.

PTC Stock Down 0.2 %

Shares of PTC stock opened at $185.03 on Monday. PTC Inc. has a 1 year low of $135.16 and a 1 year high of $194.24. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.70 and a quick ratio of 0.70. The company has a 50-day moving average of $178.53 and a 200 day moving average of $177.82. The firm has a market cap of $22.23 billion, a price-to-earnings ratio of 75.52, a PEG ratio of 2.72 and a beta of 1.17.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Berenberg Bank cut shares of PTC from a “buy” rating to a “hold” rating and cut their target price for the stock from $210.00 to $196.00 in a report on Friday. Piper Sandler raised their price target on shares of PTC from $177.00 to $182.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $202.00 price objective on shares of PTC in a research note on Thursday, August 1st. Rosenblatt Securities reissued a “buy” rating and issued a $195.00 target price on shares of PTC in a research note on Thursday, October 10th. Finally, Robert W. Baird upped their price target on PTC from $216.00 to $226.00 and gave the company an “outperform” rating in a research report on Tuesday, October 22nd. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $200.67.

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.