Legal Advantage Investments Inc. Sells 200 Shares of PTC Inc. (NASDAQ:PTC)

Legal Advantage Investments Inc. decreased its position in PTC Inc. (NASDAQ:PTC) by 5.7% during the 4th quarter, HoldingsChannel reports. The fund owned 3,300 shares of the technology company’s stock after selling 200 shares during the quarter. Legal Advantage Investments Inc.’s holdings in PTC were worth $607,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the company. State Street Corp lifted its stake in PTC by 2.7% in the 3rd quarter. State Street Corp now owns 5,076,319 shares of the technology company’s stock valued at $917,088,000 after acquiring an additional 133,370 shares in the last quarter. Geode Capital Management LLC lifted its stake in PTC by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,961,897 shares of the technology company’s stock valued at $533,341,000 after acquiring an additional 37,645 shares in the last quarter. Fernbridge Capital Management LP lifted its stake in 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 acquiring an additional 650,990 shares in the last quarter. Franklin Resources Inc. lifted its stake in PTC by 2.9% in the 3rd quarter. Franklin Resources Inc. now owns 1,096,837 shares of the technology company’s stock valued at $203,463,000 after acquiring an additional 30,525 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in PTC by 19.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 924,456 shares of the technology company’s stock valued at $167,012,000 after acquiring an additional 150,652 shares in the last quarter. Institutional investors own 95.14% of the company’s stock.

PTC Stock Performance

PTC opened at $187.79 on Tuesday. The firm has a market cap of $22.60 billion, a P/E ratio of 60.38, a price-to-earnings-growth ratio of 2.55 and a beta of 1.18. PTC Inc. has a 52-week low of $163.30 and a 52-week high of $203.09. 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 business’s fifty day moving average is $191.52 and its 200-day moving average is $182.97.

Insider Transactions at PTC

In related news, CAO Alice Christenson sold 1,703 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $193.20, for a total transaction of $329,019.60. Following the completion of the sale, the chief accounting officer now directly owns 830 shares in the company, valued at $160,356. This represents a 67.23 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Staats Aaron C. Von sold 5,373 shares of the company’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $200.13, for a total value of $1,075,298.49. Following the sale, the executive vice president now owns 21,707 shares of the company’s stock, valued at approximately $4,344,221.91. This represents a 19.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,242 shares of company stock valued at $3,630,716. 0.32% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on PTC shares. Royal Bank of Canada upped their price objective on PTC from $202.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Rosenblatt Securities reiterated a “buy” rating and set a $195.00 price objective on shares of PTC in a research note on Thursday, October 10th. JPMorgan Chase & Co. upped their price objective on PTC from $200.00 to $210.00 and gave the stock an “overweight” rating in a research note on Monday, December 2nd. Berenberg Bank cut PTC from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $210.00 to $196.00 in a research note on Friday, November 1st. Finally, Piper Sandler upped their price objective on PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $207.54.

PTC Profile

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.