Mirabella Financial Services LLP Boosts Stake in PTC Inc. (NASDAQ:PTC)

Mirabella Financial Services LLP grew its holdings in shares of PTC Inc. (NASDAQ:PTC) by 542.2% in the 3rd quarter, Holdings Channel reports. The fund owned 20,686 shares of the technology company’s stock after acquiring an additional 17,465 shares during the period. Mirabella Financial Services LLP’s holdings in PTC were worth $3,640,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Blue Trust Inc. raised its holdings in PTC by 762.5% in the second quarter. Blue Trust Inc. now owns 138 shares of the technology company’s stock valued at $26,000 after acquiring an additional 122 shares in the last quarter. First Horizon Advisors Inc. lifted its position in shares of PTC by 77.5% during the second quarter. First Horizon Advisors Inc. now owns 142 shares of the technology company’s stock worth $26,000 after purchasing an additional 62 shares during the last quarter. Rothschild Investment LLC acquired a new position in PTC in the second quarter worth about $29,000. International Assets Investment Management LLC bought a new stake in PTC in the second quarter valued at about $30,000. Finally, OFI Invest Asset Management acquired a new stake in PTC during the second quarter valued at approximately $31,000. 95.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

PTC Price Performance

NASDAQ PTC opened at $197.64 on Monday. The company has a 50-day moving average price of $184.36 and a two-hundred day moving average price of $179.29. The stock has a market cap of $23.74 billion, a price-to-earnings ratio of 63.55, a price-to-earnings-growth ratio of 2.68 and a beta of 1.17. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.38. PTC Inc. has a 52 week low of $153.11 and a 52 week high of $199.48.

Insider Buying and Selling

In related news, CAO Alice Christenson sold 1,703 shares of the company’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 owns 830 shares of the company’s stock, valued at $160,356. This 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 through the SEC website. Corporate 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.