Forsta AP Fonden Sells 1,100 Shares of PTC Inc. (NASDAQ:PTC)

Forsta AP Fonden trimmed its holdings in PTC Inc. (NASDAQ:PTC) by 4.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,700 shares of the technology company’s stock after selling 1,100 shares during the quarter. Forsta AP Fonden’s holdings in PTC were worth $4,542,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Covestor Ltd increased its stake in PTC by 70.8% during the third quarter. Covestor Ltd now owns 193 shares of the technology company’s stock valued at $35,000 after acquiring an additional 80 shares during the period. Brooklyn Investment Group bought a new position in PTC in the third quarter worth $66,000. Park Place Capital Corp acquired a new stake in PTC during the third quarter worth $67,000. Blue Trust Inc. increased its holdings in PTC by 473.9% in the 3rd quarter. Blue Trust Inc. now owns 792 shares of the technology company’s stock valued at $144,000 after buying an additional 654 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of PTC during the 3rd quarter worth about $152,000. Institutional investors own 95.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on PTC shares. Stifel Nicolaus increased their price target on shares of PTC from $200.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. JPMorgan Chase & Co. increased their target price on PTC from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. Piper Sandler upped their price target on PTC from $182.00 to $202.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Berenberg Bank cut PTC from a “buy” rating to a “hold” rating and cut their price objective for the company from $210.00 to $196.00 in a report on Friday, November 1st. Finally, Royal Bank of Canada upped their target price on shares of PTC from $202.00 to $230.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $207.54.

PTC Price Performance

PTC opened at $193.48 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.78 and a quick ratio of 0.78. The company’s 50 day simple moving average is $191.13 and its 200-day simple moving average is $183.40. PTC Inc. has a one year low of $163.30 and a one year high of $203.09. The stock has a market capitalization of $23.29 billion, a P/E ratio of 62.21, a price-to-earnings-growth ratio of 2.57 and a beta of 1.18.

Insider Buying and Selling at PTC

In other PTC news, EVP Staats Aaron C. Von sold 5,373 shares of the firm’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $200.13, for a total value of $1,075,298.49. Following the transaction, the executive vice president now directly owns 21,707 shares of the company’s stock, valued at approximately $4,344,221.91. This trade represents a 19.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Alice Christenson sold 1,703 shares of PTC 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 sale, the chief accounting officer now directly owns 830 shares of the company’s stock, valued at $160,356. This represents a 67.23 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,242 shares of company stock worth $3,630,716. Insiders own 0.32% of the company’s stock.

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.