Brooklyn Investment Group Buys New Holdings in PTC Inc. (NASDAQ:PTC)

Brooklyn Investment Group purchased a new stake in PTC Inc. (NASDAQ:PTC) in the 3rd quarter, HoldingsChannel reports. The fund purchased 367 shares of the technology company’s stock, valued at approximately $66,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Congress Asset Management Co. grew its stake in shares of PTC by 767.8% in the 3rd quarter. Congress Asset Management Co. now owns 662,826 shares of the technology company’s stock worth $119,746,000 after acquiring an additional 586,443 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in PTC by 66.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 773,804 shares of the technology company’s stock valued at $140,577,000 after buying an additional 310,092 shares during the period. Railway Pension Investments Ltd purchased a new position in PTC in the 2nd quarter worth approximately $24,416,000. Van Lanschot Kempen Investment Management N.V. boosted its holdings in shares of PTC by 13.2% in the 2nd quarter. Van Lanschot Kempen Investment Management N.V. now owns 768,810 shares of the technology company’s stock worth $139,670,000 after purchasing an additional 89,678 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC grew its position in PTC by 46.1% during the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 253,149 shares of the technology company’s stock valued at $45,990,000 after acquiring an additional 79,855 shares during the last quarter. Institutional investors own 95.14% of the company’s stock.

Insider Activity at PTC

In other PTC news, CAO Alice Christenson sold 1,703 shares of the business’s stock in a transaction dated 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 directly owns 830 shares of the company’s stock, valued at $160,356. The trade was a 67.23 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Corinna Lathan sold 860 shares of the business’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 of the company’s stock, valued at $1,368,600. The trade was a 11.16 % decrease in their position. The disclosure for this sale can be found here. 1.17% of the stock is currently owned by corporate insiders.

PTC Trading Down 0.1 %

PTC stock opened at $199.01 on Friday. PTC Inc. has a 12-month low of $153.44 and a 12-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 firm has a market capitalization of $23.91 billion, a price-to-earnings ratio of 63.99, a P/E/G ratio of 2.72 and a beta of 1.17. The firm has a 50 day moving average of $186.24 and a 200 day moving average of $179.84.

Analyst Ratings Changes

PTC has been the topic of several analyst reports. Piper Sandler lifted their price objective on PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Berenberg Bank downgraded PTC from a “buy” rating to a “hold” rating and reduced their price target for the company from $210.00 to $196.00 in a report on Friday, November 1st. Royal Bank of Canada increased their price objective on PTC from $202.00 to $230.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. StockNews.com upgraded shares of PTC from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Finally, Robert W. Baird raised their target price 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 analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, PTC has a consensus rating of “Moderate Buy” and a consensus price target of $204.83.

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.