Farther Finance Advisors LLC Has $768,000 Stock Position in PTC Inc. (NASDAQ:PTC)

Farther Finance Advisors LLC lifted its position in shares of PTC Inc. (NASDAQ:PTC) by 162.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,242 shares of the technology company’s stock after purchasing an additional 2,626 shares during the quarter. Farther Finance Advisors LLC’s holdings in PTC were worth $768,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of PTC. Vanguard Group Inc. raised its position in PTC by 1.5% in the first quarter. Vanguard Group Inc. now owns 13,740,919 shares of the technology company’s stock worth $2,596,209,000 after purchasing an additional 205,673 shares in the last quarter. Wellington Management Group LLP increased its position in shares of PTC by 1,409.3% during the 4th quarter. Wellington Management Group LLP now owns 1,680,421 shares of the technology company’s stock worth $294,006,000 after purchasing an additional 1,569,081 shares in the last quarter. Franklin Resources Inc. lifted its holdings in PTC by 1.1% during the 4th quarter. Franklin Resources Inc. now owns 1,192,272 shares of the technology company’s stock valued at $208,600,000 after purchasing an additional 13,468 shares during the last quarter. Bank of New York Mellon Corp boosted its position in PTC by 18.4% in the first quarter. Bank of New York Mellon Corp now owns 1,066,671 shares of the technology company’s stock valued at $201,537,000 after buying an additional 166,112 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of PTC by 2.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,037,724 shares of the technology company’s stock worth $181,560,000 after buying an additional 26,761 shares in the last quarter. 95.14% of the stock is currently owned by institutional investors.

PTC Price Performance

Shares of PTC stock opened at $179.09 on Tuesday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.43. PTC Inc. has a 12-month low of $134.61 and a 12-month high of $194.24. The firm has a fifty day moving average of $176.95 and a 200-day moving average of $179.51. The firm has a market capitalization of $21.44 billion, a price-to-earnings ratio of 74.93, a price-to-earnings-growth ratio of 3.34 and a beta of 1.18.

Wall Street Analyst Weigh In

PTC has been the topic of several recent analyst reports. StockNews.com downgraded PTC from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Rosenblatt Securities boosted their price objective on PTC from $190.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Mizuho reaffirmed a “neutral” rating and issued a $190.00 target price (down previously from $200.00) on shares of PTC in a research note on Tuesday, June 4th. Royal Bank of Canada reissued an “outperform” rating and set a $202.00 price target on shares of PTC in a research note on Thursday, August 1st. Finally, Piper Sandler raised their price objective on shares of PTC from $177.00 to $182.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $200.18.

Insider Buying and Selling at PTC

In other news, Director Janice Chaffin sold 4,000 shares of PTC stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $179.33, for a total transaction of $717,320.00. Following the transaction, the director now owns 48,137 shares in the company, valued at approximately $8,632,408.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Janice Chaffin sold 4,000 shares of the stock in a transaction on Friday, July 12th. The shares were sold at an average price of $179.33, for a total transaction of $717,320.00. Following the completion of the sale, the director now owns 48,137 shares of the company’s stock, valued at $8,632,408.21. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Staats Aaron C. Von sold 1,000 shares of the firm’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $170.00, for a total transaction of $170,000.00. Following the sale, the executive vice president now owns 13,902 shares in the company, valued at $2,363,340. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,000 shares of company stock valued at $3,144,130. Company insiders own 1.17% of the company’s stock.

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.