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

PTC Inc. (NASDAQ:PTC) CAO Alice Christenson sold 1,703 shares of PTC stock in a transaction on Thursday, November 21st. The shares were 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 in the company, valued at $160,356. This represents a 67.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

PTC Stock Up 2.5 %

NASDAQ PTC opened at $197.64 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. PTC Inc. has a 52 week low of $153.11 and a 52 week high of $199.48. The business’s fifty day simple moving average is $184.36 and its 200-day simple moving average is $179.28. The firm has a market cap of $23.74 billion, a PE ratio of 63.55, a P/E/G ratio of 2.61 and a beta of 1.17.

Analysts Set New Price Targets

Several brokerages have recently issued reports on PTC. Robert W. Baird lifted their target price on shares of PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Royal Bank of Canada lifted their price objective on PTC from $202.00 to $230.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Rosenblatt Securities reissued a “buy” rating and set a $195.00 target price on shares of PTC in a report on Thursday, October 10th. Piper Sandler lifted 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. Finally, StockNews.com raised PTC from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $204.83.

Hedge Funds Weigh In On PTC

A number of institutional investors have recently bought and sold shares of the company. US Bancorp DE increased its holdings in shares of PTC by 67.7% during the 3rd quarter. US Bancorp DE now owns 14,165 shares of the technology company’s stock worth $2,559,000 after buying an additional 5,717 shares during the last quarter. Swedbank AB purchased a new stake in PTC in the first quarter valued at $9,849,000. KBC Group NV lifted its stake in shares of PTC by 2.1% in the 3rd quarter. KBC Group NV now owns 228,386 shares of the technology company’s stock valued at $41,260,000 after purchasing an additional 4,712 shares during the last quarter. CWM LLC grew its holdings in shares of PTC by 112.0% during the 2nd quarter. CWM LLC now owns 7,189 shares of the technology company’s stock worth $1,306,000 after purchasing an additional 3,798 shares during the period. Finally, Advisors Asset Management Inc. increased its position in shares of PTC by 22.2% during the 1st quarter. Advisors Asset Management Inc. now owns 4,444 shares of the technology company’s stock worth $840,000 after purchasing an additional 807 shares during the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.

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.