Corebridge Financial Inc. Lowers Stock Position in PTC Inc. (NASDAQ:PTC)

Corebridge Financial Inc. cut its holdings in PTC Inc. (NASDAQ:PTC) by 3.0% during the fourth quarter, Holdings Channel reports. The institutional investor owned 30,198 shares of the technology company’s stock after selling 930 shares during the quarter. Corebridge Financial Inc.’s holdings in PTC were worth $5,553,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Bank Pictet & Cie Europe AG boosted its position in shares of PTC by 1.4% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 3,925 shares of the technology company’s stock worth $722,000 after purchasing an additional 55 shares in the last quarter. Wedmont Private Capital boosted its holdings in PTC by 1.6% in the fourth quarter. Wedmont Private Capital now owns 4,026 shares of the technology company’s stock worth $734,000 after acquiring an additional 64 shares in the last quarter. Allworth Financial LP grew its stake in shares of PTC by 58.0% in the fourth quarter. Allworth Financial LP now owns 188 shares of the technology company’s stock worth $35,000 after acquiring an additional 69 shares during the last quarter. Otter Creek Advisors LLC increased its holdings in shares of PTC by 0.4% during the fourth quarter. Otter Creek Advisors LLC now owns 19,181 shares of the technology company’s stock valued at $3,527,000 after acquiring an additional 80 shares in the last quarter. Finally, Kirtland Hills Capital Management LLC raised its holdings in PTC by 3.2% in the fourth quarter. Kirtland Hills Capital Management LLC now owns 2,948 shares of the technology company’s stock worth $542,000 after buying an additional 91 shares during the last quarter. Institutional investors own 95.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Rosenblatt Securities reiterated a “buy” rating and set a $204.00 target price on shares of PTC in a research note on Tuesday, February 4th. JPMorgan Chase & Co. lifted their price objective on PTC from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. StockNews.com lowered PTC from a “buy” rating to a “hold” rating in a research report on Monday, March 17th. KeyCorp raised their price target on shares of PTC from $205.00 to $211.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Finally, Citigroup lowered their price objective on shares of PTC from $200.00 to $195.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 5th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, PTC has a consensus rating of “Moderate Buy” and an average price target of $210.09.

Insider Buying and Selling

In other PTC news, Director Corinna Lathan sold 622 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $155.53, for a total transaction of $96,739.66. Following the completion of the sale, the director now directly owns 7,604 shares of the company’s stock, valued at $1,182,650.12. This trade represents a 7.56 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.32% of the stock is currently owned by company insiders.

PTC Stock Performance

NASDAQ:PTC opened at $154.80 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.69 and a current ratio of 0.69. The stock has a 50-day simple moving average of $169.84 and a two-hundred day simple moving average of $180.97. The firm has a market capitalization of $18.63 billion, a PE ratio of 47.78, a P/E/G ratio of 2.27 and a beta of 1.22. PTC Inc. has a 52-week low of $151.80 and a 52-week high of $203.09.

PTC (NASDAQ:PTC) last announced its quarterly earnings data 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 14.49% and a net margin of 16.95%. Analysts forecast that PTC Inc. will post 4.46 EPS for the current year.

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.