Newbrook Capital Advisors LP Sells 1,010,189 Shares of PTC Inc (PTC)
Newbrook Capital Advisors LP lowered its position in PTC Inc (NASDAQ:PTC) by 49.0% during the 4th quarter, HoldingsChannel reports. The fund owned 1,051,912 shares of the technology company’s stock after selling 1,010,189 shares during the period. PTC makes up 4.3% of Newbrook Capital Advisors LP’s portfolio, making the stock its 13th largest holding. Newbrook Capital Advisors LP’s holdings in PTC were worth $63,925,000 as of its most recent SEC filing.
A number of other large investors have also recently made changes to their positions in the business. Ark Investment Management LLC raised its stake in shares of PTC by 83.5% in the second quarter. Ark Investment Management LLC now owns 19,301 shares of the technology company’s stock worth $1,064,000 after purchasing an additional 8,782 shares during the last quarter. Aperio Group LLC increased its position in shares of PTC by 6.0% during the third quarter. Aperio Group LLC now owns 27,341 shares of the technology company’s stock valued at $1,539,000 after acquiring an additional 1,551 shares during the last quarter. Crossmark Global Holdings Inc. purchased a new stake in shares of PTC during the third quarter valued at approximately $629,000. State of Tennessee Treasury Department purchased a new stake in shares of PTC during the third quarter valued at approximately $3,940,000. Finally, Prudential Financial Inc. increased its position in shares of PTC by 1.3% during the third quarter. Prudential Financial Inc. now owns 73,343 shares of the technology company’s stock valued at $4,128,000 after acquiring an additional 910 shares during the last quarter. Institutional investors and hedge funds own 97.98% of the company’s stock.
In other news, VP Staats Aaron C. Von sold 7,500 shares of the firm’s stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $73.76, for a total value of $553,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider James E. Heppelmann sold 25,000 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $72.34, for a total value of $1,808,500.00. The disclosure for this sale can be found here. Insiders sold 37,964 shares of company stock valued at $2,765,872 over the last three months. Company insiders own 1.19% of the company’s stock.
PTC (NASDAQ:PTC) last released its earnings results on Wednesday, January 17th. The technology company reported $0.31 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.01. PTC had a return on equity of 9.29% and a net margin of 2.47%. The business had revenue of $306.44 million during the quarter, compared to the consensus estimate of $300.17 million. During the same period last year, the business posted $0.26 earnings per share. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. equities analysts predict that PTC Inc will post 0.78 EPS for the current fiscal year.
PTC has been the subject of a number of research analyst reports. BidaskClub raised PTC from a “buy” rating to a “strong-buy” rating in a research report on Saturday, February 17th. Barclays increased their price target on PTC from $69.00 to $77.00 and gave the company an “overweight” rating in a research report on Thursday, January 18th. Royal Bank of Canada increased their price target on PTC to $80.00 and gave the company an “outperform” rating in a research report on Thursday, January 18th. Robert W. Baird increased their price target on PTC from $68.00 to $75.00 and gave the company an “outperform” rating in a research report on Thursday, January 18th. Finally, JPMorgan Chase & Co. downgraded PTC from an “overweight” rating to a “neutral” rating and set a $68.00 price target for the company. in a research report on Tuesday, December 12th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $73.25.
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PTC Company Profile
PTC Inc is a global computer software and services company. The Company offers a portfolio of computer-aided design (CAD) modeling, product lifecycle management (PLM) and service lifecycle management (SLM) solutions for manufacturers to create, operate, and service products. It offers a suite of Internet of Things (IoT) solutions that enables its customers to connect, manage and analyze data, and create applications.
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