Conatus Capital Management LP Invests $76,525,000 in PTC Inc. (PTC)

Conatus Capital Management LP Invests $76,525,000 in PTC Inc. (PTC)

Conatus Capital Management LP bought a new position in shares of PTC Inc. (NASDAQ:PTC) during the third quarter, Holdings Channel reports. The institutional investor bought 1,727,042 shares of the company’s stock, valued at approximately $76,525,000. PTC makes up approximately 5.0% of Conatus Capital Management LP’s portfolio, making the stock its 7th largest position.

A number of other large investors have also bought and sold shares of the stock. Whale Rock Capital Management LLC acquired a new stake in PTC during the second quarter worth approximately $11,254,000. Peapack Gladstone Financial Corp increased its stake in PTC by 2.9% in the second quarter. Peapack Gladstone Financial Corp now owns 189,949 shares of the company’s stock worth $7,138,000 after buying an additional 5,294 shares in the last quarter. Folger Hill Asset Management LP acquired a new stake in PTC during the second quarter worth approximately $7,016,000. Palestra Capital Management LLC increased its stake in PTC by 3.1% in the second quarter. Palestra Capital Management LLC now owns 1,687,422 shares of the company’s stock worth $63,413,000 after buying an additional 51,013 shares in the last quarter. Finally, Telemark Asset Management LLC acquired a new stake in PTC during the second quarter worth approximately $5,073,000. Institutional investors own 96.41% of the company’s stock.

PTC Inc. (NASDAQ:PTC) opened at 53.82 on Wednesday. PTC Inc. has a 52-week low of $27.44 and a 52-week high of $54.27. The firm’s market capitalization is $6.20 billion. The stock’s 50 day moving average price is $49.54 and its 200 day moving average price is $45.85.

PTC (NASDAQ:PTC) last posted its quarterly earnings data on Wednesday, January 18th. The company reported $0.26 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.26. PTC had a positive return on equity of 7.04% and a negative net margin of 3.50%. The business had revenue of $286 million for the quarter, compared to analysts’ expectations of $287.11 million. During the same quarter last year, the firm earned $0.50 earnings per share. The business’s revenue was down 1.7% on a year-over-year basis. Analysts expect that PTC Inc. will post $1.26 earnings per share for the current year.

A number of research firms have commented on PTC. Zacks Investment Research upgraded PTC from a “sell” rating to a “hold” rating in a report on Wednesday, January 25th. Mitsubishi UFJ Financial Group reiterated a “neutral” rating on shares of PTC in a report on Thursday, January 19th. Brean Capital reiterated a “buy” rating and issued a $62.00 price objective on shares of PTC in a report on Thursday, December 15th. Wedbush reiterated an “outperform” rating and issued a $59.00 price objective (up previously from $56.00) on shares of PTC in a report on Thursday, January 19th. Finally, Barclays PLC set a $60.00 price objective on PTC and gave the company a “buy” rating in a report on Thursday, January 19th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $55.25.

In related news, EVP Anthony Dibona sold 11,025 shares of PTC stock in a transaction on Friday, November 18th. The stock was sold at an average price of $48.72, for a total value of $537,138.00. Following the transaction, the executive vice president now owns 32,884 shares in the company, valued at $1,602,108.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Barry F. Cohen sold 30,000 shares of PTC stock in a transaction on Wednesday, January 25th. The shares were sold at an average price of $52.41, for a total value of $1,572,300.00. Following the completion of the transaction, the executive vice president now owns 107,103 shares in the company, valued at approximately $5,613,268.23. The disclosure for this sale can be found here. Insiders have sold 122,315 shares of company stock worth $6,158,907 in the last 90 days. Insiders own 1.02% of the company’s stock.

PTC Company Profile

PTC Inc is a global computer software and services company. The Company offers a portfolio of computer-aided design (CAD) modeling, product lifecycle management (PLM) and service lifecycle management (SLM) solutions for manufacturers to create, operate, and service products. It offers a suite of Internet of Things (IoT) solutions that enables its customers to connect, manage and analyze data, and create applications.

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