PTC Inc. (NASDAQ:PTC) CAO Sells $329,019.60 in Stock

PTC Inc. (NASDAQ:PTC) CAO Alice Christenson sold 1,703 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $193.20, for a total value of $329,019.60. Following the transaction, the chief accounting officer now owns 830 shares of the company’s stock, valued at approximately $160,356. This represents a 67.23 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

PTC Price Performance

Shares of NASDAQ PTC opened at $197.64 on Friday. The stock’s 50-day simple moving average is $184.36 and its 200-day simple moving average is $179.28. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.78 and a current ratio of 0.78. The firm has a market capitalization of $23.74 billion, a PE ratio of 63.55, a price-to-earnings-growth ratio of 2.61 and a beta of 1.17. PTC Inc. has a fifty-two week low of $153.11 and a fifty-two week high of $199.48.

Institutional Trading of PTC

Several institutional investors have recently modified their holdings of PTC. Fernbridge Capital Management LP boosted its position in shares of PTC by 83.7% in the 3rd quarter. Fernbridge Capital Management LP now owns 1,429,005 shares of the technology company’s stock valued at $258,164,000 after purchasing an additional 650,990 shares during the period. Congress Asset Management Co. boosted its holdings in shares of PTC by 767.8% in the third quarter. Congress Asset Management Co. now owns 662,826 shares of the technology company’s stock valued at $119,746,000 after acquiring an additional 586,443 shares during the period. D1 Capital Partners L.P. acquired a new stake in shares of PTC in the third quarter valued at approximately $84,549,000. Massachusetts Financial Services Co. MA grew its position in shares of PTC by 66.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 773,804 shares of the technology company’s stock worth $140,577,000 after acquiring an additional 310,092 shares during the last quarter. Finally, Railway Pension Investments Ltd acquired a new position in shares of PTC in the 2nd quarter valued at $24,416,000. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on PTC. Robert W. Baird raised their target price on PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Piper Sandler lifted their price objective on shares of PTC from $182.00 to $202.00 and gave the company a “neutral” rating in a report on Thursday, November 7th. Berenberg Bank lowered shares of PTC from a “buy” rating to a “hold” rating and reduced their target price for the stock from $210.00 to $196.00 in a report on Friday, November 1st. StockNews.com upgraded shares of PTC from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Finally, Royal Bank of Canada increased their price objective on PTC from $202.00 to $230.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, PTC presently has an average rating of “Moderate Buy” and an average target price of $204.83.

About PTC

PTC Inc operates as software company in the Americas, Europe, and the Asia Pacific. The company provides Windchill, a suite that manages all aspects of the product development lifecycle(PLM) that provides real-time information sharing, dynamic data visualization, collaborate across geographically distributed teams, and enabling manufacturers to elevate product development, manufacturing, and field service processes; ThingWorx, a platform for Industrial Internet of Things; ServiceMax, a field service management solutions enable companies to asset uptime with optimized in-person and remote service and technician productivity with mobile tools.