Dai ichi Life Insurance Company Ltd Trims Position in PTC Inc. (NASDAQ:PTC)

Dai ichi Life Insurance Company Ltd decreased its position in shares of PTC Inc. (NASDAQ:PTC) by 49.0% during the third quarter, Holdings Channel reports. The institutional investor owned 8,328 shares of the technology company’s stock after selling 8,000 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in PTC were worth $1,505,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. California State Teachers Retirement System boosted its stake in shares of PTC by 1.4% in the first quarter. California State Teachers Retirement System now owns 186,636 shares of the technology company’s stock worth $35,263,000 after acquiring an additional 2,514 shares during the period. Tidal Investments LLC boosted its stake in PTC by 14.9% in the 1st quarter. Tidal Investments LLC now owns 12,836 shares of the technology company’s stock worth $2,425,000 after purchasing an additional 1,667 shares during the period. Comerica Bank grew its holdings in PTC by 0.6% during the 1st quarter. Comerica Bank now owns 103,973 shares of the technology company’s stock valued at $19,645,000 after buying an additional 663 shares in the last quarter. iA Global Asset Management Inc. raised its position in shares of PTC by 189.0% during the first quarter. iA Global Asset Management Inc. now owns 4,347 shares of the technology company’s stock valued at $821,000 after buying an additional 2,843 shares during the last quarter. Finally, Wahed Invest LLC lifted its holdings in shares of PTC by 17.1% in the first quarter. Wahed Invest LLC now owns 2,287 shares of the technology company’s stock worth $432,000 after buying an additional 334 shares in the last quarter. Institutional investors own 95.14% of the company’s stock.

PTC Stock Down 0.1 %

NASDAQ PTC opened at $199.01 on Thursday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.38. PTC Inc. has a 52 week low of $153.44 and a 52 week high of $201.66. The firm has a market capitalization of $23.91 billion, a price-to-earnings ratio of 63.99, a PEG ratio of 2.72 and a beta of 1.17. The company has a fifty day moving average of $185.84 and a two-hundred day moving average of $179.71.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Royal Bank of Canada lifted their price target on shares of PTC from $202.00 to $230.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Piper Sandler lifted their target price on PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. StockNews.com raised PTC from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Rosenblatt Securities reaffirmed a “buy” rating and issued a $195.00 price objective on shares of PTC in a research note on Thursday, October 10th. Finally, Robert W. Baird increased their target price on PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $204.83.

Insider Transactions at PTC

In other PTC news, CAO Alice Christenson sold 1,703 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $193.20, for a total value of $329,019.60. Following the sale, the chief accounting officer now owns 830 shares in the company, valued at $160,356. This trade represents a 67.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Corinna Lathan sold 860 shares of the business’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 sale, the director now directly owns 6,843 shares of the company’s stock, valued at $1,368,600. This represents a 11.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.17% of the company’s stock.

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.