PTC Inc. (NASDAQ:PTC) Director Sells $172,000.00 in Stock

PTC Inc. (NASDAQ:PTC) Director Corinna Lathan sold 860 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $200.00, for a total transaction of $172,000.00. Following the transaction, the director now directly owns 6,843 shares in the company, valued at $1,368,600. This represents a 11.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

PTC Stock Down 0.1 %

PTC stock traded down $0.21 during mid-day trading on Wednesday, reaching $199.05. The stock had a trading volume of 80,357 shares, compared to its average volume of 807,051. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.78 and a current ratio of 0.78. PTC Inc. has a fifty-two week low of $153.44 and a fifty-two week high of $201.66. The stock’s 50-day simple moving average is $185.37 and its 200-day simple moving average is $179.58. The firm has a market capitalization of $23.91 billion, a PE ratio of 64.07, a price-to-earnings-growth ratio of 2.72 and a beta of 1.17.

Institutional Investors Weigh In On PTC

Hedge funds have recently added to or reduced their stakes in the company. US Bancorp DE lifted its holdings in shares of PTC by 67.7% in the third quarter. US Bancorp DE now owns 14,165 shares of the technology company’s stock valued at $2,559,000 after purchasing an additional 5,717 shares in the last quarter. Swedbank AB bought a new position in shares of PTC in the first quarter valued at approximately $9,849,000. Mirabella Financial Services LLP lifted its holdings in shares of PTC by 542.2% in the third quarter. Mirabella Financial Services LLP now owns 20,686 shares of the technology company’s stock valued at $3,640,000 after purchasing an additional 17,465 shares in the last quarter. KBC Group NV lifted its holdings in shares of PTC by 2.1% in the third quarter. KBC Group NV now owns 228,386 shares of the technology company’s stock valued at $41,260,000 after purchasing an additional 4,712 shares in the last quarter. Finally, CWM LLC lifted its holdings in shares of PTC by 112.0% in the second quarter. CWM LLC now owns 7,189 shares of the technology company’s stock valued at $1,306,000 after purchasing an additional 3,798 shares in the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on PTC shares. 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 research note on Thursday, November 7th. Berenberg Bank downgraded shares of PTC from a “buy” rating to a “hold” rating and decreased their target price for the company from $210.00 to $196.00 in a research report on Friday, November 1st. Robert W. Baird boosted their price target on shares of PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Royal Bank of Canada lifted their target price on shares of PTC from $202.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, StockNews.com raised shares of PTC from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, PTC presently has an average rating of “Moderate Buy” and a consensus price target 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.