Cinctive Capital Management LP Increases Holdings in PTC Inc. (NASDAQ:PTC)

Cinctive Capital Management LP increased its stake in PTC Inc. (NASDAQ:PTC) by 30.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,600 shares of the technology company’s stock after buying an additional 600 shares during the quarter. Cinctive Capital Management LP’s holdings in PTC were worth $470,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Blue Trust Inc. boosted its holdings in PTC by 762.5% during the 2nd quarter. Blue Trust Inc. now owns 138 shares of the technology company’s stock valued at $26,000 after acquiring an additional 122 shares during the period. First Horizon Advisors Inc. raised its stake in shares of PTC by 77.5% during the 2nd quarter. First Horizon Advisors Inc. now owns 142 shares of the technology company’s stock worth $26,000 after acquiring an additional 62 shares in the last quarter. Rothschild Investment LLC purchased a new stake in shares of PTC during the 2nd quarter valued at $29,000. International Assets Investment Management LLC acquired a new stake in PTC in the second quarter worth about $30,000. Finally, OFI Invest Asset Management acquired a new stake in PTC in the 2nd quarter worth approximately $31,000. Institutional investors own 95.14% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. JPMorgan Chase & Co. boosted their price target on PTC from $200.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday. StockNews.com upgraded PTC from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Robert W. Baird boosted their price target on PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Rosenblatt Securities reaffirmed a “buy” rating and set a $195.00 price objective on shares of PTC in a research note on Thursday, October 10th. Finally, Berenberg Bank cut shares of PTC from a “buy” rating to a “hold” rating and decreased their target price for the company from $210.00 to $196.00 in a research note on Friday, November 1st. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, PTC presently has an average rating of “Moderate Buy” and a consensus price target of $205.67.

Insider Activity

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 company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $193.20, for a total transaction of $329,019.60. Following the sale, the chief accounting officer now directly owns 830 shares of the company’s stock, valued at $160,356. The trade was a 67.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 12,869 shares of company stock worth $2,555,418 over the last quarter. 1.17% of the stock is currently owned by corporate insiders.

PTC Trading Up 0.4 %

PTC stock opened at $200.20 on Wednesday. PTC Inc. has a 12-month low of $157.72 and a 12-month high of $201.66. The business’s 50-day moving average is $187.60 and its 200 day moving average is $180.18. 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 $24.05 billion, a price-to-earnings ratio of 64.37, a PEG ratio of 2.70 and a beta of 1.16.

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.