PTC Inc. (PTC) Shares Acquired by Mirabella Financial Services: What it Means
Mirabella Financial Services LLP recently made big moves by increasing its stake in PTC Inc. (NASDAQ:PTC) by 542.2% in the third quarter, according to the latest filing with the Securities and Exchange Commission (SEC). With the purchase of an additional 17,465 shares, the fund now holds 20,686 shares of the technology company’s stock, valued at $3,640,000 based on its most recent SEC filing.
This increase in stake by Mirabella Financial Services LLP is just one example of institutional investors and hedge funds showing interest in PTC. Fisher Asset Management LLC, for instance, raised its holdings in PTC by 27.1% in the third quarter, now owning 43,932 shares worth $7,937,000 after acquiring an additional 9,371 shares.
Similarly, Daiwa Securities Group Inc. raised its position in PTC by 86.8% in the third quarter, owning 49,132 shares valued at $8,876,000 after purchasing an additional 22,826 shares. It’s clear that there is significant interest in PTC among institutional investors.
In related news, CAO Alice Christenson recently sold 1,703 shares of PTC stock on Thursday, November 21st, at an average price of $193.20, totaling $329,019.60. This marked a 67.23% decrease in their position. Currently, 1.17% of the stock is owned by corporate insiders.
Shares of PTC opened at $197.64 on Monday, holding steady with a 50-day simple moving average of $184.36 and a 200-day simple moving average of $179.29. With a market capitalization of $23.74 billion, PTC has a P/E ratio of 63.55 and a beta of 1.17.
Analysts have shared their insights on PTC as well, with Piper Sandler and Royal Bank of Canada among those increasing their price targets for the stock. StockNews.com upgraded PTC from a “hold” rating to a “buy,” while Robert W. Baird and Rosenblatt Securities maintained and reiterated positive outlooks on the stock.
This shows that PTC has caught the attention of multiple analysts and investors. With a consensus rating of “Moderate Buy,” and an average price target of $204.83, PTC continues to be a stock worth watching in the technology sector.
PTC Inc. operates as a software company, providing various solutions such as Windchill, ThingWorx, and ServiceMax that cater to different aspects of product development, manufacturing, and field service processes. These offerings have positioned PTC as a key player in the industry, attracting both institutional investors and analysts alike.
For more insights on PTC and other stocks in the market, stay tuned for further updates and analysis.
