PTC Inc. [PTC] Director makes an insider purchase of 8,000 shares worth 0.96 million.

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. PTC Inc. shares valued at $963,322 were sold by Moret Blake D. on Sep 12. At $120.42 per share, Moret Blake D. sold 8,000 shares. The insider’s holdings dropped to 8,879,717 shares worth approximately $970.91 million following the completion of this transaction.

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Also, Moret Blake D. sold 303,333 shares, netting a total of over 36,452,423 in proceeds. Following the sale of shares at $120.17 each, the insider now holds 8,887,717 shares.

Before that, Moret Blake D. had sold 100,000 shares from its account. In a trade valued at $11,884,253, the Director traded PTC Inc. shares for $118.84 each. Upon closing the transaction, the insider’s holdings decreased to 100,000 shares, worth approximately $1.0 billion.

Analysts at Wolfe Research started covering the stock with ‘”an Outperform”‘ outlook in a report released in mid August. As of July 27, 2022, Oppenheimer has initiated its “Perform” rating for PTC. Earlier on December 14, 2021, JP Morgan downgraded its rating. Their new recommendation was “a Neutral” for PTC stock which previously was a “an Overweight”.

Analyzing PTC’s Price Performance

On Thursday, PTC Inc. [NASDAQ: PTC] plunged -2.16% to $109.34. The stock’s lowest price that day was $109.02, but it reached a high of $111.76 in the same session. During the last five days, there has been a drop of approximately -4.91%. Over the course of the year, PTC Inc. shares have dropped approximately -9.75%. Shares of the company reached a 52-week high of $126.88 on 07/28/22 and a 52-week low of $96.55 on 04/27/22. A 50-day SMA is recorded $116.53, while a 200-day SMA reached $112.50. Nevertheless, trading volume fell to 1.16 million shares from 0.5 million shares the previous day.

Support And Resistance Levels for PTC Inc. (PTC)

According to the 24-hour chart, there is a support level at 108.32, which, if violated, would cause prices to drop to 107.30. In the upper region, resistance lies at 111.06. The next price resistance is at 112.78. RSI (Relative Strength Index) is 32.71 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -4.65, which suggests the price will decrease in the coming days. Percent R is at 97.35%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is PTC Inc. subject to short interest?

Stocks of PTC Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.83 million shares to 1.7 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 2.53 million shares. A decline of -48.82% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.51 of the overall float, the days-to-cover ratio (short ratio) decline to 2.51.

Which companies own the most shares of PTC Inc. (PTC)?

According to The Vanguard Group, Inc. filings, the company currently owns 11,516,888 shares, which is about 9.80% of the total PTC shares outstanding. The investor’s shares have appreciated by 81,446 from its previous 13-F filing of 11435442.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $673,089,958. AllianceBernstein LP acquire a 21.08% interest valued at $567.55 million while T. Rowe Price Associates, Inc. sold a -67,741 stake. A total of -388,004 shares of PTC Inc. were sold by Pictet Asset Management SA during the quarter, and -167,808 were sold by SSgA Funds Management, Inc.. In its current portfolio, Standard Investments LLC holds 4,005,000 shares valued at $460.13 million.

In terms of PTC Inc. share price expectations, FactSet research, analysts set an average price target of $143.08 in the next 12 months, up nearly 30.65% from the previous closing price of $111.75. Analysts anticipate PTC Inc. stock to reach $160.00 by 2022, with the lowest price target being $124.00. In spite of this, 17 analysts ranked PTC Inc. stock as an Overweight at the end of 2022. On June 08, 2021, Rosenblatt assigned a price target of “a Buy” to the stock and initiated coverage with a $157.


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