D1 Capital Partners L.P. Takes Position in PTC Inc. (NASDAQ:PTC)

D1 Capital Partners L.P. bought a new position in shares of PTC Inc. (NASDAQ:PTC) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 468,000 shares of the technology company’s stock, valued at approximately $84,549,000. PTC comprises about 1.6% of D1 Capital Partners L.P.’s portfolio, making the stock its 19th biggest holding.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PTC. First Horizon Advisors Inc. lifted its stake in PTC by 77.5% during the second quarter. First Horizon Advisors Inc. now owns 142 shares of the technology company’s stock worth $26,000 after purchasing an additional 62 shares in the last quarter. Blue Trust Inc. boosted its stake in shares of PTC by 762.5% in the second quarter. Blue Trust Inc. now owns 138 shares of the technology company’s stock valued at $26,000 after purchasing an additional 122 shares during the period. Rothschild Investment LLC acquired a new position in shares of PTC in the second quarter valued at approximately $29,000. International Assets Investment Management LLC acquired a new stake in PTC during the 2nd quarter worth approximately $30,000. Finally, OFI Invest Asset Management purchased a new position in PTC in the 2nd quarter valued at approximately $31,000. Hedge funds and other institutional investors own 95.14% of the company’s stock.

PTC Stock Down 0.1 %

Shares of NASDAQ:PTC opened at $199.01 on Friday. The company has a market capitalization of $23.91 billion, a PE ratio of 63.99, a P/E/G ratio of 2.69 and a beta of 1.17. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.38. PTC Inc. has a twelve month low of $153.44 and a twelve month high of $201.66. The firm has a 50 day simple moving average of $186.24 and a 200-day simple moving average of $179.84.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on PTC. Robert W. Baird upped their price objective on PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Royal Bank of Canada boosted their target price on PTC from $202.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. StockNews.com raised shares of PTC from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Piper Sandler lifted their price target on shares of PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Finally, Berenberg Bank downgraded shares of PTC from a “buy” rating to a “hold” rating and decreased their price target for the stock from $210.00 to $196.00 in a research note on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $204.83.

Insider Transactions at PTC

In related news, CAO Alice Christenson sold 1,703 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $193.20, for a total value of $329,019.60. Following the completion of the sale, the chief accounting officer now owns 830 shares in the company, valued at $160,356. This represents a 67.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Corinna Lathan sold 860 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $200.00, for a total transaction of $172,000.00. Following the completion of the sale, the director now owns 6,843 shares of the company’s stock, valued at approximately $1,368,600. This trade represents a 11.16 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.17% of the company’s stock.

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.