Squarepoint Ops LLC Lowers Position in PTC Inc. $PTC

Squarepoint Ops LLC trimmed its position in shares of PTC Inc. (NASDAQ:PTC) by 98.4% during the second quarter, HoldingsChannel reports. The fund owned 3,225 shares of the technology company’s stock after selling 201,387 shares during the quarter. Squarepoint Ops LLC’s holdings in PTC were worth $556,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Bellecapital International Ltd. boosted its holdings in PTC by 4.3% in the 2nd quarter. Bellecapital International Ltd. now owns 1,604 shares of the technology company’s stock valued at $276,000 after purchasing an additional 66 shares in the last quarter. Aviso Financial Inc. grew its holdings in PTC by 4.1% during the second quarter. Aviso Financial Inc. now owns 1,691 shares of the technology company’s stock worth $291,000 after acquiring an additional 66 shares during the period. American Century Companies Inc. grew its holdings in PTC by 3.3% during the first quarter. American Century Companies Inc. now owns 2,271 shares of the technology company’s stock worth $352,000 after acquiring an additional 73 shares during the period. Ballentine Partners LLC boosted its position in shares of PTC by 0.9% during the 2nd quarter. Ballentine Partners LLC now owns 8,565 shares of the technology company’s stock worth $1,476,000 after purchasing an additional 73 shares in the last quarter. Finally, Penserra Capital Management LLC boosted its position in shares of PTC by 12.8% during the 2nd quarter. Penserra Capital Management LLC now owns 653 shares of the technology company’s stock worth $111,000 after purchasing an additional 74 shares in the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on PTC shares. Wall Street Zen downgraded shares of PTC from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 6th. Robert W. Baird set a $255.00 target price on shares of PTC in a report on Wednesday, October 22nd. Weiss Ratings reissued a “buy (b-)” rating on shares of PTC in a research note on Monday. Rosenblatt Securities lowered their price target on PTC from $227.00 to $220.00 and set a “buy” rating on the stock in a report on Thursday, November 6th. Finally, Zacks Research downgraded PTC from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. Twelve investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, PTC has an average rating of “Moderate Buy” and an average price target of $205.92.

PTC Stock Up 0.3%

PTC stock opened at $176.47 on Thursday. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.12 and a quick ratio of 1.43. The company’s 50 day simple moving average is $182.80 and its 200-day simple moving average is $192.38. PTC Inc. has a 12 month low of $133.38 and a 12 month high of $219.69. The firm has a market capitalization of $21.08 billion, a PE ratio of 28.74, a P/E/G ratio of 2.93 and a beta of 1.03.

PTC (NASDAQ:PTC) last posted its earnings results on Friday, November 21st. The technology company reported $2.10 earnings per share (EPS) for the quarter. The firm had revenue of $1.76 billion for the quarter. PTC had a return on equity of 23.03% and a net margin of 27.05%. Equities analysts expect that PTC Inc. will post 4.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other PTC news, EVP Kristian Talvitie sold 50,291 shares of the company’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $173.14, for a total value of $8,707,383.74. Following the transaction, the executive vice president directly owned 12,386 shares in the company, valued at approximately $2,144,512.04. This represents a 80.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Staats Aaron C. Von sold 6,328 shares of PTC stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $174.79, for a total transaction of $1,106,071.12. Following the sale, the executive vice president owned 22,461 shares of the company’s stock, valued at approximately $3,925,958.19. This trade represents a 21.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 61,277 shares of company stock worth $10,624,076. Corporate insiders own 0.32% of the company’s stock.

About PTC

PTC Inc (NASDAQ: PTC) is a global technology company that develops software and services to help manufacturers design, operate, and service physical products. Founded in 1985 as Parametric Technology Corporation, PTC pioneered parametric, feature-based CAD with its Pro/ENGINEER product (now marketed as Creo) and has since expanded its portfolio to address product lifecycle management, Internet of Things (IoT), augmented reality (AR) and industrial connectivity.

Key product lines include Creo for 3D CAD; Windchill for product lifecycle management (PLM); ThingWorx, an IoT platform for connecting devices and building industrial applications; Vuforia, an AR platform for creating immersive service and training experiences; and Kepware, a suite for industrial connectivity and protocol translation.