Piper Sandler initates PTC Inc. (PTC) stock to a Neutral


PTC Inc.’s recent filing unveils that its Director Moret Blake D. unloaded Company’s shares for reported $11.65 million on Jul 31. In the deal valued at $145.58 per share,80,000 shares were sold. As a result of this transaction, Moret Blake D. now holds 5,910,905 shares worth roughly $ 867.43 million.

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Then, Moret Blake D. sold 80,000 shares, generating $11,600,126 in total proceeds. Upon selling the shares at $145.00, the Director now owns 5,990,905 shares.

Before that, LACY PAUL A sold 2,500 shares. PTC Inc. shares valued at $376,209 were divested by the Director at a price of $150.48 per share. As a result of the transaction, LACY PAUL A now holds 19,136 shares, worth roughly $2.81 million.

Piper Sandler initiated its PTC Inc. [PTC] rating to a Neutral in a research note published on Friday, June 14, 2023; the price target was $150. PT values the company’s stock at a premium of 2.17 to its Friday closing price.

Price Performance Review of PTC

On Friday, PTC Inc. [NASDAQ:PTC] saw its stock fall -0.29% to $146.75. On the same session, the stock had its day’s lowest price of $145.915, but rose to a high of $148.15. Over the last five days, the stock has gained 1.31%. PTC Inc. shares have risen nearly 22.25% since the year began. Nevertheless, the stocks have risen 27.73% over the past one year. While a 52-week high of $152.09 was reached on 07/27/23, a 52-week low of $101.82 was recorded on 03/13/23. SMA at 50 days reached $143.16, while 200 days put it at $131.85. A total of 0.57 million shares were traded, compared to the trading of 0.46 million shares in the previous session.

Levels Of Support And Resistance For PTC Stock

The 24-hour chart illustrates a support level at 145.73, which if violated will result in even more drops to 144.70. On the upside, there is a resistance level at 147.96. A further resistance level may holdings at 149.17. The Relative Strength Index (RSI) on the 14-day chart is 58.61, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 2.98, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 15.35%. Stochastics %K at 86.75% indicates the stock is a selling.

How much short interest is there in PTC Inc.?

A steep rise in short interest was recorded in PTC Inc. stocks on Aug 14, 2023, growing by 0.2 million shares to a total of 1.47 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 1.27 million shares. There was a rise of 13.61%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 1.52% of the overall stock float, the days-to-cover ratio (short ratio) rose to 1.55.

PTC Inc. [PTC] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 12,567,984 shares, or roughly 10.62% of the outstanding PTC shares. In other words, the investor’s shares have risen by 578,891 from its previous 13-F filing of 11989093.0. Additionally, BlackRock Fund Advisors increased 18.47% of its stake after which the total value it holdings stand at $1,062,944,985, while T. Rowe Price Investment Manageme added 12.23% of its stake to hold $695.24 million in the firm. Over the last quarter, Pictet Asset Management SA sold -129,655 shares of PTC Inc., while SSgA Funds Management, Inc. sold 167,705 shares. At present, AllianceBernstein LP is holding 3,774,732 shares valued at $550.39 million. Lone Pine Capital LLC owned 3,167,520 shares of the company at the time of its most recent 13F filing, worth $461.86 million.

According to FactSet, PTC Inc.’s share price will average $164.00 in the next year, based on opinions of analysts polled by the firm. This is up nearly 12.12 percent from its previous closing price of $147.17. Analysts expect PTC Inc. stock to reach the higher price of $180.00, while the lowest price estimate is $130.00. However, 20 analysts have rated PTC stock as an Overweight in their predictions for 2023.


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