Alice Christenson Sells 1,703 Shares of PTC Inc. (NASDAQ:PTC) Stock

PTC Inc. (NASDAQ:PTC) CAO Alice Christenson sold 1,703 shares of the business’s 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 completion of 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

PTC Stock Performance

Shares of NASDAQ:PTC traded up $4.89 during midday trading on Friday, hitting $197.64. The stock had a trading volume of 928,832 shares, compared to its average volume of 807,775. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.38. PTC Inc. has a 1 year low of $153.11 and a 1 year high of $199.48. The stock has a 50 day moving average price of $183.85 and a two-hundred day moving average price of $179.15. The company has a market capitalization of $23.74 billion, a PE ratio of 62.04, a P/E/G ratio of 2.56 and a beta of 1.17.

Hedge Funds Weigh In On PTC

Several institutional investors and hedge funds have recently modified their holdings of the company. Janney Montgomery Scott LLC acquired a new position in PTC in the first quarter valued at $215,000. Acadian Asset Management LLC grew its holdings in PTC by 74.7% during the 1st quarter. Acadian Asset Management LLC now owns 2,047 shares of the technology company’s stock valued at $385,000 after purchasing an additional 875 shares in the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in PTC by 22.8% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 4,449 shares of the technology company’s stock worth $841,000 after buying an additional 826 shares in the last quarter. Bessemer Group Inc. boosted its position in PTC by 19.3% in the 1st quarter. Bessemer Group Inc. now owns 2,663 shares of the technology company’s stock valued at $504,000 after buying an additional 430 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co increased its position in shares of PTC by 2.4% during the first quarter. CANADA LIFE ASSURANCE Co now owns 84,637 shares of the technology company’s stock worth $15,995,000 after acquiring an additional 1,965 shares during the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on PTC shares. Berenberg Bank cut PTC from a “buy” rating to a “hold” rating and dropped their price target for the stock from $210.00 to $196.00 in a research report on Friday, November 1st. Piper Sandler boosted their price objective on PTC from $182.00 to $202.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Rosenblatt Securities reiterated a “buy” rating and set a $195.00 price objective on shares of PTC in a research report on Thursday, October 10th. StockNews.com upgraded PTC from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Finally, Royal Bank of Canada increased their price target on PTC from $202.00 to $230.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, PTC currently has an average rating of “Moderate Buy” and a consensus price target of $204.83.

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.