PTC Inc. (NASDAQ:PTC) Shares Sold by Jennison Associates LLC

Jennison Associates LLC decreased its position in shares of PTC Inc. (NASDAQ:PTC) by 95.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,698 shares of the technology company’s stock after selling 110,172 shares during the quarter. Jennison Associates LLC’s holdings in PTC were worth $1,048,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. State Street Corp grew its holdings in PTC by 2.7% in the third quarter. State Street Corp now owns 5,076,319 shares of the technology company’s stock valued at $917,088,000 after purchasing an additional 133,370 shares during the period. Geode Capital Management LLC lifted its position in shares of PTC by 1.3% during 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 buying an additional 37,645 shares in the last quarter. Fernbridge Capital Management LP grew 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 during the period. Franklin Resources Inc. increased its holdings in PTC by 2.9% in the 3rd quarter. Franklin Resources Inc. now owns 1,096,837 shares of the technology company’s stock worth $203,463,000 after acquiring an additional 30,525 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in PTC by 19.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 924,456 shares of the technology company’s stock worth $167,012,000 after acquiring an additional 150,652 shares during the period. 95.14% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at PTC

In other PTC news, Director Corinna Lathan sold 860 shares of the business’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 value of $172,000.00. Following the sale, the director now owns 6,843 shares of the company’s stock, valued at $1,368,600. The trade was a 11.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Staats Aaron C. Von sold 5,373 shares of the firm’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 transaction, 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. Insiders have sold 18,242 shares of company stock worth $3,630,716 over the last quarter. 0.32% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on PTC shares. Rosenblatt Securities reissued a “buy” rating and set a $204.00 target price on shares of PTC in a research note on Tuesday. JPMorgan Chase & Co. increased their target price on PTC from $200.00 to $210.00 and gave the company an “overweight” rating in a report on Monday, December 2nd. Citigroup lowered their price target on PTC from $200.00 to $195.00 and set a “neutral” rating on the stock in a research note on Wednesday. Stifel Nicolaus increased their price objective on PTC from $200.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Finally, KeyCorp lifted their target price on shares of PTC from $205.00 to $211.00 and gave the stock an “overweight” rating in a research note on Thursday. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $210.09.

PTC Trading Down 9.6 %

Shares of PTC opened at $171.61 on Friday. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.38. The firm has a 50-day moving average price of $190.48 and a 200 day moving average price of $183.73. PTC Inc. has a 12-month low of $163.30 and a 12-month high of $203.09. The firm has a market capitalization of $20.65 billion, a P/E ratio of 55.18, a P/E/G ratio of 2.62 and a beta of 1.19.

PTC (NASDAQ:PTC) last announced its quarterly earnings results on Wednesday, February 5th. The technology company reported $0.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.12). PTC had a return on equity of 14.63% and a net margin of 16.37%. Sell-side analysts forecast that PTC Inc. will post 4.62 EPS for the current year.

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.