Legacy Wealth Asset Management LLC Cuts Stock Holdings in PTC Inc. (NASDAQ:PTC)

Legacy Wealth Asset Management LLC reduced its position in shares of PTC Inc. (NASDAQ:PTC) by 7.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,900 shares of the technology company’s stock after selling 143 shares during the period. Legacy Wealth Asset Management LLC’s holdings in PTC were worth $349,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Steph & Co. increased its stake in PTC by 41.0% during the 4th quarter. Steph & Co. now owns 1,263 shares of the technology company’s stock worth $232,000 after buying an additional 367 shares in the last quarter. Park Avenue Securities LLC grew its position in shares of PTC by 29.3% in the fourth quarter. Park Avenue Securities LLC now owns 1,975 shares of the technology company’s stock valued at $363,000 after purchasing an additional 448 shares in the last quarter. Assenagon Asset Management S.A. grew its position in shares of PTC by 110.5% in the fourth quarter. Assenagon Asset Management S.A. now owns 87,674 shares of the technology company’s stock valued at $16,121,000 after purchasing an additional 46,017 shares in the last quarter. Fifth Third Wealth Advisors LLC purchased a new stake in shares of PTC in the fourth quarter valued at approximately $260,000. Finally, Oak Thistle LLC purchased a new stake in shares of PTC in the fourth quarter valued at approximately $1,113,000. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Berenberg Bank lowered PTC from a “buy” rating to a “hold” rating and dropped their price target for the company from $210.00 to $196.00 in a research report on Friday, November 1st. Rosenblatt Securities restated a “buy” rating and issued a $195.00 price target 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. JPMorgan Chase & Co. upped their price objective on PTC from $200.00 to $210.00 and gave the company an “overweight” rating in a report on Monday, December 2nd. Finally, Stifel Nicolaus upped their price objective on PTC from $200.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $207.54.

PTC Stock Up 0.4 %

NASDAQ:PTC opened at $187.79 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.38. The stock’s fifty day moving average is $191.52 and its two-hundred day moving average is $182.98. PTC Inc. has a 52 week low of $163.30 and a 52 week high of $203.09. The stock has a market capitalization of $22.60 billion, a price-to-earnings ratio of 60.38, a price-to-earnings-growth ratio of 2.47 and a beta of 1.18.

Insiders Place Their Bets

In other news, EVP Staats Aaron C. Von sold 5,373 shares of the 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 sale, the executive vice president now directly owns 21,707 shares in the company, valued at approximately $4,344,221.91. This trade represents a 19.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Corinna Lathan sold 860 shares of the stock in a transaction on Monday, November 25th. The shares were 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 approximately $1,368,600. The trade was a 11.16 % 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 ninety days. Corporate insiders own 0.32% of the company’s stock.

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.