468,000 Shares in PTC Inc. (NASDAQ:PTC) Purchased by D1 Capital Partners L.P.

D1 Capital Partners L.P. acquired a new position in PTC Inc. (NASDAQ:PTC) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 468,000 shares of the technology company’s stock, valued at approximately $84,549,000. PTC accounts for about 1.6% of D1 Capital Partners L.P.’s portfolio, making the stock its 19th biggest holding. D1 Capital Partners L.P. owned approximately 0.39% of PTC as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Fernbridge Capital Management LP lifted its stake in PTC by 83.7% in the third quarter. Fernbridge Capital Management LP now owns 1,429,005 shares of the technology company’s stock worth $258,164,000 after acquiring an additional 650,990 shares during the period. Impax Asset Management Group plc lifted its position in shares of PTC by 4.4% during the second quarter. Impax Asset Management Group plc now owns 1,141,782 shares of the technology company’s stock valued at $206,091,000 after buying an additional 48,553 shares during the last quarter. Liontrust Investment Partners LLP lifted its position in shares of PTC by 1.0% during the second quarter. Liontrust Investment Partners LLP now owns 1,003,922 shares of the technology company’s stock valued at $182,383,000 after buying an additional 10,338 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of PTC by 19.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 924,456 shares of the technology company’s stock valued at $167,012,000 after buying an additional 150,652 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. lifted its position in shares of PTC by 4.3% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 783,077 shares of the technology company’s stock valued at $141,471,000 after buying an additional 32,343 shares during the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have commented on the stock. StockNews.com raised shares of PTC from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Robert W. Baird upped their price objective on shares of PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Royal Bank of Canada upped their price objective on shares of PTC from $202.00 to $230.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Piper Sandler upped their price objective on shares of PTC from $182.00 to $202.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Finally, Rosenblatt Securities restated a “buy” rating and set a $195.00 price objective on shares of PTC in a report on Thursday, October 10th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $204.83.

PTC Stock Performance

NASDAQ PTC opened at $199.01 on Friday. The stock has a market capitalization of $23.91 billion, a price-to-earnings ratio of 63.99, a PEG ratio of 2.69 and a beta of 1.17. PTC Inc. has a twelve month low of $153.44 and a twelve month high of $201.66. 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 50-day moving average of $186.24 and a 200 day moving average of $179.84.

Insider Buying and Selling

In other PTC news, 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 transaction, the director now owns 6,843 shares in the company, valued at approximately $1,368,600. This trade represents a 11.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Alice Christenson sold 1,703 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $193.20, for a total transaction of $329,019.60. Following the completion of the sale, the chief accounting officer now owns 830 shares of the company’s stock, valued at $160,356. This trade represents a 67.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.17% of the stock is currently owned by insiders.

PTC Company 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.