Fmr LLC Lowers Position in PTC Inc. (NASDAQ:PTC)

Fmr LLC trimmed its position in shares of PTC Inc. (NASDAQ:PTC) by 68.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 935,038 shares of the technology company’s stock after selling 1,984,621 shares during the quarter. Fmr LLC’s holdings in PTC were worth $168,924,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. First Horizon Advisors Inc. boosted its holdings in PTC by 77.5% during the second quarter. First Horizon Advisors Inc. now owns 142 shares of the technology company’s stock worth $26,000 after purchasing an additional 62 shares during the last quarter. Blue Trust Inc. increased its position in shares of PTC by 762.5% during the second quarter. Blue Trust Inc. now owns 138 shares of the technology company’s stock valued at $26,000 after acquiring an additional 122 shares during the last quarter. Rothschild Investment LLC bought a new stake in PTC during the second quarter worth $29,000. International Assets Investment Management LLC purchased a new position in PTC in the second quarter worth $30,000. Finally, OFI Invest Asset Management bought a new position in PTC in the 2nd quarter valued at $31,000. Institutional investors own 95.14% of the company’s stock.

PTC Stock Down 0.3 %

PTC stock opened at $199.38 on Tuesday. PTC Inc. has a twelve month low of $157.72 and a twelve month high of $201.66. The firm has a market capitalization of $23.95 billion, a PE ratio of 64.11, a PEG ratio of 2.71 and a beta of 1.17. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.38. The stock has a 50-day simple moving average of $187.15 and a two-hundred day simple moving average of $180.07.

Insider Activity at PTC

In related news, CAO Alice Christenson sold 1,703 shares of the business’s stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 830 shares in the company, valued at $160,356. The trade was a 67.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Corinna Lathan sold 860 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $200.00, for a total value of $172,000.00. Following the completion of the transaction, the director now 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 disclosure for this sale can be found here. 1.17% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on PTC. Robert W. Baird lifted their target price on PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. StockNews.com upgraded shares of PTC from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Piper Sandler raised their price target on shares of PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Berenberg Bank downgraded PTC from a “buy” rating to a “hold” rating and dropped their price objective for the company from $210.00 to $196.00 in a research note on Friday, November 1st. Finally, Royal Bank of Canada raised their target price on PTC from $202.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.67.

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.