Nordea Investment Management AB Acquires 204,077 Shares of PTC Inc. $PTC

Nordea Investment Management AB increased its stake in PTC Inc. (NASDAQ:PTC) by 2,075.2% during the third quarter, according to its most recent filing with the SEC. The fund owned 213,911 shares of the technology company’s stock after buying an additional 204,077 shares during the quarter. Nordea Investment Management AB owned 0.18% of PTC worth $43,420,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the stock. Daiwa Securities Group Inc. lifted its holdings in PTC by 13.4% during the 2nd quarter. Daiwa Securities Group Inc. now owns 74,128 shares of the technology company’s stock worth $12,775,000 after purchasing an additional 8,786 shares in the last quarter. O ROURKE & COMPANY Inc purchased a new stake in shares of PTC in the second quarter worth about $258,000. Nisa Investment Advisors LLC boosted its position in shares of PTC by 35.7% in the second quarter. Nisa Investment Advisors LLC now owns 28,678 shares of the technology company’s stock valued at $4,942,000 after acquiring an additional 7,546 shares during the period. ARK Investment Management LLC grew its stake in PTC by 18.5% during the second quarter. ARK Investment Management LLC now owns 19,024 shares of the technology company’s stock valued at $3,279,000 after acquiring an additional 2,965 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in PTC by 33.3% during the 2nd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 33,244 shares of the technology company’s stock worth $5,729,000 after acquiring an additional 8,300 shares during the period. Hedge funds and other institutional investors own 95.14% of the company’s stock.

PTC Trading Down 1.7%

NASDAQ PTC opened at $166.53 on Thursday. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.31. The stock’s 50-day simple moving average is $174.64 and its two-hundred day simple moving average is $192.81. PTC Inc. has a twelve month low of $133.38 and a twelve month high of $219.69. The company has a market capitalization of $19.80 billion, a price-to-earnings ratio of 27.12, a PEG ratio of 2.82 and a beta of 1.01.

PTC (NASDAQ:PTC) last announced its quarterly earnings data on Friday, November 21st. The technology company reported $2.10 EPS for the quarter. The firm had revenue of $1.76 billion for the quarter. PTC had a return on equity of 23.02% and a net margin of 27.05%. Research analysts forecast that PTC Inc. will post 4.46 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Robert W. Baird set a $255.00 price target on shares of PTC in a report on Wednesday, October 22nd. BMO Capital Markets lowered their price objective on PTC from $231.00 to $219.00 and set an “outperform” rating on the stock in a research report on Thursday, November 6th. Piper Sandler reduced their target price on PTC from $200.00 to $175.00 and set a “neutral” rating for the company in a research report on Friday, November 7th. Rosenblatt Securities decreased their target price on PTC from $227.00 to $220.00 and set a “buy” rating on the stock in a research note on Thursday, November 6th. Finally, Weiss Ratings cut PTC from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday. Eleven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $205.92.

Insider Activity at PTC

In other news, EVP Kristian Talvitie sold 50,291 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $173.14, for a total value of $8,707,383.74. Following the completion of the sale, the executive vice president directly owned 12,386 shares in the company, valued at approximately $2,144,512.04. The trade was a 80.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Staats Aaron C. Von sold 6,328 shares of the stock in a transaction on Monday, December 8th. The shares were sold at an average price of $174.79, for a total transaction of $1,106,071.12. Following the transaction, the executive vice president directly owned 22,461 shares in the company, valued at approximately $3,925,958.19. This represents a 21.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 61,277 shares of company stock worth $10,624,076 over the last three months. Insiders own 0.29% of the company’s stock.

PTC Company Profile

PTC Inc (NASDAQ: PTC) is a global technology company that develops software and services to help manufacturers design, operate, and service physical products. Founded in 1985 as Parametric Technology Corporation, PTC pioneered parametric, feature-based CAD with its Pro/ENGINEER product (now marketed as Creo) and has since expanded its portfolio to address product lifecycle management, Internet of Things (IoT), augmented reality (AR) and industrial connectivity.

Key product lines include Creo for 3D CAD; Windchill for product lifecycle management (PLM); ThingWorx, an IoT platform for connecting devices and building industrial applications; Vuforia, an AR platform for creating immersive service and training experiences; and Kepware, a suite for industrial connectivity and protocol translation.