Dark Forest Capital Management LP Sells 2,743 Shares of PTC Inc. (NASDAQ:PTC)

Dark Forest Capital Management LP lowered its holdings in shares of PTC Inc. (NASDAQ:PTC) by 57.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,025 shares of the technology company’s stock after selling 2,743 shares during the quarter. Dark Forest Capital Management LP’s holdings in PTC were worth $368,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Intech Investment Management LLC grew its position in PTC by 180.8% in the first quarter. Intech Investment Management LLC now owns 27,073 shares of the technology company’s stock worth $5,115,000 after acquiring an additional 17,430 shares in the last quarter. Swedbank AB bought a new position in shares of PTC during the 1st quarter valued at approximately $9,849,000. BNP Paribas Financial Markets raised its holdings in PTC by 133.1% during the 1st quarter. BNP Paribas Financial Markets now owns 122,819 shares of the technology company’s stock valued at $23,205,000 after buying an additional 70,131 shares during the period. Norden Group LLC lifted its position in PTC by 1,600.7% in the first quarter. Norden Group LLC now owns 55,308 shares of the technology company’s stock worth $10,450,000 after buying an additional 52,056 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in PTC by 25.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 834,820 shares of the technology company’s stock valued at $146,061,000 after acquiring an additional 169,592 shares during the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, Director Janice Chaffin sold 4,000 shares of the business’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $171.34, for a total value of $685,360.00. Following the completion of the transaction, the director now directly owns 44,137 shares of the company’s stock, valued at approximately $7,562,433.58. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, Director Janice Chaffin sold 4,000 shares of the firm’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $171.34, for a total value of $685,360.00. Following the sale, the director now directly owns 44,137 shares in the company, valued at approximately $7,562,433.58. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Staats Aaron C. Von sold 1,000 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 13,902 shares of the company’s stock, valued at approximately $2,363,340. The disclosure for this sale can be found here. Insiders sold a total of 14,000 shares of company stock worth $2,431,330 over the last 90 days. Company insiders own 1.17% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on PTC. Royal Bank of Canada restated an “outperform” rating and issued a $202.00 target price on shares of PTC in a report on Thursday, August 1st. Rosenblatt Securities upped their target price on PTC from $190.00 to $195.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. StockNews.com lowered PTC from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Piper Sandler upped their price objective on PTC from $177.00 to $182.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Finally, Mizuho reiterated a “neutral” rating and set a $190.00 target price (down from $200.00) on shares of PTC in a research report on Tuesday, June 4th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $200.18.

PTC Price Performance

PTC opened at $182.18 on Friday. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43. The business’s fifty day simple moving average is $174.14 and its 200-day simple moving average is $178.40. The company has a market capitalization of $21.89 billion, a price-to-earnings ratio of 76.23, a PEG ratio of 3.31 and a beta of 1.18. PTC Inc. has a 12-month low of $134.61 and a 12-month high of $194.24.

PTC (NASDAQ:PTC) last posted its quarterly earnings results on Wednesday, July 31st. The technology company reported $0.66 EPS for the quarter, beating the consensus estimate of $0.64 by $0.02. PTC had a net margin of 13.32% and a return on equity of 13.36%. The business had revenue of $518.64 million during the quarter, compared to analyst estimates of $533.04 million. On average, equities research analysts anticipate that PTC Inc. will post 3.52 earnings per share for the current fiscal year.

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.