PTC Inc (PTC) Down After Posting Lower Revenues In Preliminary Results

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What does Smart Money think about PTC Inc?

Heading into the second quarter, a total of 22 of the hedge funds tracked by Insider Monkey were bullish in this stock, a decline of 19% from one quarter earlier. With the smart money’s sentiment swirling, there exists a select group of notable hedge fund managers who were increasing their holdings considerably.

At the end of the first quarter, Ricky Sandler of Eminence Capital was the largest stockholder of PTC Inc in our database. His position in the technology company included 1.86 million shares with a market value of $67.24 million and the position accounting for 1.04% of his overall portfolio value. Robert Pitts’ Steadfast Capital Management came at number two in the list of hedge fund investors, with a holding of $57.65 million from 1.59 million shares. Some of the other leadinginvestors of the company included Fir Tree, founded by Jeffrey Tannenbaum, Claus Moller’s P2 Capital Partners, and Paul Marshall & Ian Wace’s Marshall Wace LLP. Fir Tree came at number two in the list of hedge fund initiating new positions in the company after Eminence Capital, with a holding valued at $53.24 million from owning 1.47 million shares of the company.

Considering bearish hedge fund sentiment and lower-than-expected revenue growth, we do not recommend a buy of PTC at this time.

Disclosure: None

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