Wahed Invest LLC Acquires 309 Shares of PTC Inc. (NASDAQ:PTC)

Wahed Invest LLC boosted its holdings in PTC Inc. (NASDAQ:PTC) by 12.1% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,872 shares of the technology company’s stock after acquiring an additional 309 shares during the quarter. Wahed Invest LLC’s holdings in PTC were worth $519,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Oregon Public Employees Retirement Fund increased its position in shares of PTC by 0.6% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 10,267 shares of the technology company’s stock valued at $1,865,000 after purchasing an additional 61 shares during the last quarter. Diversified Trust Co increased its position in shares of PTC by 2.9% during the 2nd quarter. Diversified Trust Co now owns 2,193 shares of the technology company’s stock valued at $398,000 after purchasing an additional 62 shares during the last quarter. First Horizon Advisors Inc. increased its position in shares of PTC by 77.5% during the 2nd quarter. First Horizon Advisors Inc. now owns 142 shares of the technology company’s stock valued at $26,000 after purchasing an additional 62 shares during the last quarter. IFM Investors Pty Ltd increased its position in shares of PTC by 0.3% during the 3rd quarter. IFM Investors Pty Ltd now owns 25,963 shares of the technology company’s stock valued at $4,690,000 after purchasing an additional 66 shares during the last quarter. Finally, Metis Global Partners LLC increased its position in shares of PTC by 1.1% during the 3rd quarter. Metis Global Partners LLC now owns 6,655 shares of the technology company’s stock valued at $1,202,000 after purchasing an additional 73 shares during the last quarter. 95.14% of the stock is currently owned by institutional investors.

PTC Trading Up 0.0 %

NASDAQ PTC opened at $200.92 on Friday. PTC Inc. has a fifty-two week low of $160.12 and a fifty-two week high of $202.80. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.78 and a current ratio of 0.78. The stock has a 50 day simple moving average of $188.87 and a two-hundred day simple moving average of $180.59. The stock has a market cap of $24.14 billion, a P/E ratio of 64.60, a price-to-earnings-growth ratio of 2.72 and a beta of 1.16.

Insiders Place Their Bets

In related news, CAO Alice Christenson sold 1,703 shares of PTC stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $193.20, for a total transaction of $329,019.60. Following the sale, the chief accounting officer now directly owns 830 shares in the company, valued at $160,356. The trade was 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 this hyperlink. Also, CFO Kristian Talvitie sold 10,306 shares of PTC stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $199.34, for a total value of $2,054,398.04. Following the sale, the chief financial officer now owns 57,134 shares in the company, valued at $11,389,091.56. This represents a 15.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,869 shares of company stock worth $2,555,418. 1.17% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

PTC has been the topic of several recent research reports. Robert W. Baird increased their price objective on PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Rosenblatt Securities restated a “buy” rating and set a $195.00 target price on shares of PTC in a report on Thursday, October 10th. Piper Sandler increased their target price on PTC from $182.00 to $202.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Berenberg Bank cut PTC from a “buy” rating to a “hold” rating and dropped their target price for the company from $210.00 to $196.00 in a report on Friday, November 1st. Finally, Royal Bank of Canada increased their target price on PTC from $202.00 to $230.00 and gave the company an “outperform” rating in a report 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 data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $205.67.

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.