Park Avenue Securities LLC Has $363,000 Stock Position in PTC Inc. (NASDAQ:PTC)

Park Avenue Securities LLC boosted its stake in PTC Inc. (NASDAQ:PTC) by 29.3% in the fourth quarter, HoldingsChannel reports. The firm owned 1,975 shares of the technology company’s stock after acquiring an additional 448 shares during the period. Park Avenue Securities LLC’s holdings in PTC were worth $363,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Covestor Ltd increased its stake in shares of PTC by 70.8% in the 3rd quarter. Covestor Ltd now owns 193 shares of the technology company’s stock valued at $35,000 after acquiring an additional 80 shares during the last quarter. Brooklyn Investment Group acquired a new position in PTC during the third quarter valued at approximately $66,000. Park Place Capital Corp acquired a new stake in PTC in the third quarter worth $67,000. Blue Trust Inc. boosted its position in shares of PTC by 473.9% during the third quarter. Blue Trust Inc. now owns 792 shares of the technology company’s stock worth $144,000 after purchasing an additional 654 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of PTC in the 3rd quarter valued at $152,000. Institutional investors and hedge funds own 95.14% of the company’s stock.

PTC Price Performance

NASDAQ:PTC opened at $188.96 on Friday. PTC Inc. has a 52-week low of $163.30 and a 52-week high of $203.09. The company has a market cap of $22.74 billion, a P/E ratio of 60.76, a P/E/G ratio of 2.55 and a beta of 1.18. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.78 and a current ratio of 0.78. The stock’s 50-day simple moving average is $191.14 and its 200 day simple moving average is $183.08.

Insiders Place Their Bets

In other PTC 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 stock was sold at an average price of $200.13, for a total transaction of $1,075,298.49. Following the transaction, the executive vice president now owns 21,707 shares of the company’s stock, valued at $4,344,221.91. The trade was a 19.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Corinna Lathan sold 860 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $200.00, for a total value of $172,000.00. Following the completion of the sale, the director now owns 6,843 shares in the company, valued at $1,368,600. This 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 valued at $3,630,716 in the last 90 days. 0.32% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. JPMorgan Chase & Co. lifted their target price on PTC from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. Piper Sandler boosted their price objective on PTC from $182.00 to $202.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. StockNews.com raised PTC from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Royal Bank of Canada lifted their price target 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. Finally, Robert W. Baird increased their price objective on shares of PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, PTC currently has a consensus rating of “Moderate Buy” and a consensus target price of $207.54.

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.