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

PTC Inc. (NASDAQ:PTC) CAO Alice Christenson sold 1,703 shares of PTC stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $193.20, for a total value of $329,019.60. Following the completion of the transaction, the chief accounting officer now owns 830 shares in the company, valued at approximately $160,356. This represents a 67.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

PTC Price Performance

PTC stock opened at $197.64 on Friday. The stock’s 50 day moving average is $184.36 and its 200 day moving average is $179.28. 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 firm has a market cap of $23.74 billion, a P/E ratio of 63.55, a P/E/G ratio of 2.61 and a beta of 1.17. PTC Inc. has a one year low of $153.11 and a one year high of $199.48.

Hedge Funds Weigh In On PTC

A number of hedge funds and other institutional investors have recently made changes to their positions in PTC. Fernbridge Capital Management LP lifted its stake in PTC by 83.7% in the third quarter. Fernbridge Capital Management LP now owns 1,429,005 shares of the technology company’s stock valued at $258,164,000 after buying an additional 650,990 shares during the period. Congress Asset Management Co. lifted its stake in PTC by 767.8% in the third quarter. Congress Asset Management Co. now owns 662,826 shares of the technology company’s stock valued at $119,746,000 after buying an additional 586,443 shares during the period. D1 Capital Partners L.P. acquired a new position in PTC in the third quarter valued at approximately $84,549,000. Massachusetts Financial Services Co. MA lifted its stake in PTC by 66.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 773,804 shares of the technology company’s stock valued at $140,577,000 after buying an additional 310,092 shares during the period. Finally, Railway Pension Investments Ltd acquired a new position in PTC in the second quarter valued at approximately $24,416,000. 95.14% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PTC has been the topic of a number of recent analyst reports. Berenberg Bank cut PTC from a “buy” rating to a “hold” rating and decreased their target price for the company from $210.00 to $196.00 in a research report on Friday, November 1st. Royal Bank of Canada lifted their target price on PTC from $202.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. StockNews.com upgraded PTC from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Robert W. Baird lifted their target price on PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, Piper Sandler lifted their target price on PTC from $182.00 to $202.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $204.83.

About PTC

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.