Fernbridge Capital Management LP Has $141.34 Million Position in PTC Inc. (NASDAQ:PTC)

Fernbridge Capital Management LP lifted its position in PTC Inc. (NASDAQ:PTC) by 6.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 778,015 shares of the technology company’s stock after purchasing an additional 46,286 shares during the quarter. PTC comprises approximately 9.4% of Fernbridge Capital Management LP’s portfolio, making the stock its 2nd largest holding. Fernbridge Capital Management LP owned approximately 0.65% of PTC worth $141,342,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in PTC. Wellington Management Group LLP grew its stake in PTC by 1,409.3% in the 4th quarter. Wellington Management Group LLP now owns 1,680,421 shares of the technology company’s stock worth $294,006,000 after buying an additional 1,569,081 shares in the last quarter. Twin Focus Capital Partners LLC purchased a new stake in PTC during the fourth quarter valued at about $177,081,000. Norges Bank bought a new stake in PTC during the fourth quarter worth about $114,043,000. Balyasny Asset Management L.P. boosted its holdings in shares of PTC by 173.8% in the 4th quarter. Balyasny Asset Management L.P. now owns 543,266 shares of the technology company’s stock worth $95,050,000 after purchasing an additional 344,853 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in PTC by 66.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 773,804 shares of the technology company’s stock worth $140,577,000 after buying an additional 310,092 shares during the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

PTC Price Performance

Shares of PTC stock opened at $175.90 on Friday. The business has a 50 day moving average of $174.25 and a 200 day moving average of $178.57. PTC Inc. has a 52 week low of $134.61 and a 52 week high of $194.24. The company has a market cap of $21.06 billion, a PE ratio of 73.60, a P/E/G ratio of 3.24 and a beta of 1.18. 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 (NASDAQ:PTC) last announced its earnings results on Wednesday, July 31st. The technology company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.02. PTC had a return on equity of 13.36% and a net margin of 13.32%. The firm had revenue of $518.64 million during the quarter, compared to analyst estimates of $533.04 million. As a group, equities research analysts forecast that PTC Inc. will post 3.52 earnings per share for the current year.

Insider Buying and Selling

In other PTC news, EVP Staats Aaron C. Von sold 1,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $170.00, for a total value of $170,000.00. Following the sale, the executive vice president now directly owns 13,902 shares of the company’s stock, valued at $2,363,340. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Janice Chaffin sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $179.33, for a total value of $717,320.00. Following the completion of the transaction, the director now directly owns 48,137 shares in the company, valued at approximately $8,632,408.21. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Staats Aaron C. Von sold 1,000 shares of the stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $170.00, for a total value 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. Insiders have sold 14,000 shares of company stock worth $2,431,330 in the last 90 days. Insiders own 1.17% of the company’s stock.

Wall Street Analyst Weigh In

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

PTC 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.