Lone Pine Capital LLC Sells 419,759 Shares of PTC Inc. (NASDAQ:PTC)

Lone Pine Capital LLC lowered its position in PTC Inc. (NASDAQ:PTC) by 14.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,548,199 shares of the technology company’s stock after selling 419,759 shares during the quarter. PTC makes up about 3.8% of Lone Pine Capital LLC’s portfolio, making the stock its 15th biggest position. Lone Pine Capital LLC owned approximately 2.12% of PTC worth $462,931,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Intech Investment Management LLC grew its stake in PTC by 180.8% in the first quarter. Intech Investment Management LLC now owns 27,073 shares of the technology company’s stock worth $5,115,000 after purchasing an additional 17,430 shares in the last quarter. Portfolio Design Labs LLC bought a new position in PTC in the fourth quarter worth approximately $4,316,000. Swedbank AB bought a new stake in PTC during the 1st quarter valued at $9,849,000. BNP Paribas Financial Markets boosted its position in PTC by 133.1% during the 1st quarter. BNP Paribas Financial Markets now owns 122,819 shares of the technology company’s stock valued at $23,205,000 after acquiring an additional 70,131 shares in the last quarter. Finally, Norden Group LLC boosted its position in PTC by 1,600.7% during the 1st quarter. Norden Group LLC now owns 55,308 shares of the technology company’s stock valued at $10,450,000 after acquiring an additional 52,056 shares in the last quarter. Institutional investors own 95.14% of the company’s stock.

PTC Stock Performance

Shares of PTC stock opened at $177.79 on Wednesday. The firm has a market capitalization of $21.36 billion, a price-to-earnings ratio of 74.39, a price-to-earnings-growth ratio of 3.32 and a beta of 1.18. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.70 and a quick ratio of 0.70. The business has a fifty day moving average of $173.99 and a 200 day moving average of $178.43. PTC Inc. has a 1 year low of $134.61 and a 1 year high of $194.24.

PTC (NASDAQ:PTC) last issued its earnings results on Wednesday, July 31st. The technology company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. The company had revenue of $518.64 million during the quarter, compared to analyst estimates of $533.04 million. PTC had a return on equity of 13.36% and a net margin of 13.32%. As a group, research analysts expect that PTC Inc. will post 3.52 earnings per share for the current year.

Insider Buying and Selling at PTC

In related news, EVP Staats Aaron C. Von sold 1,000 shares of PTC stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $170.00, for a total value of $170,000.00. Following the completion of the transaction, the executive vice president now owns 13,902 shares in the company, valued at approximately $2,363,340. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP Staats Aaron C. Von sold 1,000 shares of PTC stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $170.00, for a total value of $170,000.00. Following the completion of the transaction, the executive vice president now owns 13,902 shares in the company, valued at approximately $2,363,340. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Robert Schechter sold 5,000 shares of PTC stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $171.73, for a total value of $858,650.00. Following the completion of the transaction, the director now owns 59,616 shares of the company’s stock, valued at approximately $10,237,855.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 14,000 shares of company stock worth $2,431,330. Insiders own 1.17% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on PTC shares. Mizuho reaffirmed a “neutral” rating and set a $190.00 target price (down previously from $200.00) on shares of PTC in a research report on Tuesday, June 4th. Piper Sandler increased their target price on PTC from $177.00 to $182.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $202.00 target price on shares of PTC in a research report on Thursday, August 1st. StockNews.com cut PTC from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. Finally, Rosenblatt Securities raised their price objective on PTC from $190.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $200.18.

PTC Company 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.