PTC Inc. (NASDAQ:PTC) Director Corinna Lathan Sells 860 Shares

PTC Inc. (NASDAQ:PTC) Director Corinna Lathan sold 860 shares of the company’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 completion of the sale, the director now owns 6,843 shares in the company, valued at $1,368,600. The trade was a 11.16 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.

PTC Stock Performance

PTC stock opened at $200.06 on Friday. The company has a market cap of $24.03 billion, a P/E ratio of 64.33, a price-to-earnings-growth ratio of 2.69 and a beta of 1.17. PTC Inc. has a 1 year low of $154.73 and a 1 year high of $201.66. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.78 and a quick ratio of 0.78. The stock’s fifty day moving average price is $186.73 and its 200-day moving average price is $179.99.

Hedge Funds Weigh In On PTC

A number of institutional investors and hedge funds have recently modified their holdings of PTC. Fernbridge Capital Management LP boosted its stake in shares of PTC by 83.7% in the 3rd quarter. Fernbridge Capital Management LP now owns 1,429,005 shares of the technology company’s stock worth $258,164,000 after buying an additional 650,990 shares during the last quarter. Congress Asset Management Co. raised its holdings in PTC by 767.8% in the 3rd quarter. Congress Asset Management Co. now owns 662,826 shares of the technology company’s stock worth $119,746,000 after purchasing an additional 586,443 shares during the period. D1 Capital Partners L.P. bought a new position in PTC in the 3rd quarter worth $84,549,000. Massachusetts Financial Services Co. MA raised its holdings in PTC by 66.9% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 773,804 shares of the technology company’s stock worth $140,577,000 after purchasing an additional 310,092 shares during the period. Finally, Railway Pension Investments Ltd bought a new position in PTC in the 2nd quarter worth $24,416,000. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on PTC. Piper Sandler upped their price target on PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Rosenblatt Securities restated a “buy” rating and issued a $195.00 price target on shares of PTC in a research note on Thursday, October 10th. StockNews.com upgraded PTC from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Robert W. Baird increased their target price on PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, Berenberg Bank downgraded PTC from a “buy” rating to a “hold” rating and cut their target price for the company from $210.00 to $196.00 in a research note on Friday, November 1st. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, PTC has an average rating of “Moderate Buy” and a consensus target price 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.