Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. PTC Inc shares valued at $1,404,084 were sold by LACY PAUL A on Mar 01 ’24. At $187.21 per share, LACY PAUL A sold 7,500 shares. The insider’s holdings dropped to 11,037 shares worth approximately $2.01 million following the completion of this transaction.
Also, Kniker Catherine sold 1,330 shares, netting a total of over 238,849 in proceeds. Following the sale of shares at $179.59 each, the insider now holds 13,864 shares.
Before that, HEPPELMANN JAMES E had sold 35,000 shares from its account. In a trade valued at $6,203,355, the CEO traded PTC Inc shares for $177.24 each. Upon closing the transaction, the insider’s holdings decreased to 35,000 shares, worth approximately $176.5 million.
As published in a research note from JP Morgan on January 04, 2024, PTC Inc [PTC] has been rated up from a Neutral to an Overweight and the price target has been revised to $200 from $130. Analysts at Oppenheimer upgraded the stock from ‘”a Perform”‘ to ‘”an Outperform”‘ outlook in a report released in late October. As of June 14, 2023, Piper Sandler has initiated its “Neutral” rating for PTC. Earlier on May 24, 2023, BMO Capital Markets initiated its rating. Their recommendation was “an Outperform” for PTC stock.
Analyzing PTC Stock Performance
During the last five days, there has been a drop of approximately -0.37%. Over the course of the year, PTC Inc shares have jumped approximately 4.18%. Shares of the company reached a 52-week high of $194.24 on 03/21/24 and a 52-week low of $165.74 on 01/05/24. A 50-day SMA is recorded $183.58, while a 200-day SMA reached $159.46. Nevertheless, trading volume fell to 0.67 million shares from 0.63 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 180.97, which, if violated, would cause prices to drop to 179.67. In the upper region, resistance lies at 184.00. The next price resistance is at 185.73. RSI (Relative Strength Index) is 43.60 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -2.91, which suggests the price will decrease in the coming days. Percent R is at 92.04%, 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 rise in short interest on Mar 28, 2024 jumping by 0.18 million shares to 2.22 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 2.04 million shares. A jump of 8.11% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.84 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.84.
