Staats Aaron C. Von Sells 1,988 Shares of PTC Inc. (NASDAQ:PTC) Stock

PTC Inc. (NASDAQ:PTC) EVP Staats Aaron C. Von sold 1,988 shares of PTC stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $160.00, for a total value of $318,080.00. Following the sale, the executive vice president now directly owns 17,731 shares in the company, valued at $2,836,960. This trade represents a 10.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

PTC Trading Down 1.1 %

Shares of NASDAQ:PTC opened at $162.94 on Friday. PTC Inc. has a 1 year low of $133.38 and a 1 year high of $203.09. The firm has a market capitalization of $19.54 billion, a P/E ratio of 50.29, a P/E/G ratio of 2.27 and a beta of 1.19. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.69 and a quick ratio of 0.69. The business’s 50-day moving average is $153.52 and its 200 day moving average is $174.60.

PTC (NASDAQ:PTC) last released its earnings results on Wednesday, April 30th. The technology company reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.42. PTC had a return on equity of 14.49% and a net margin of 16.95%. The firm had revenue of $636.37 million for the quarter, compared to the consensus estimate of $608.64 million. During the same period in the prior year, the firm earned $1.46 EPS. The firm’s revenue was up 5.5% on a year-over-year basis. On average, research analysts predict that PTC Inc. will post 4.46 earnings per share for the current fiscal year.

Institutional Trading of PTC

Several large investors have recently made changes to their positions in PTC. Headlands Technologies LLC lifted its stake in shares of PTC by 81.5% in the 1st quarter. Headlands Technologies LLC now owns 5,175 shares of the technology company’s stock valued at $802,000 after purchasing an additional 2,324 shares during the period. Ontario Teachers Pension Plan Board acquired a new stake in shares of PTC in the first quarter worth approximately $520,000. Altfest L J & Co. Inc. purchased a new stake in shares of PTC during the first quarter worth $646,000. Deutsche Bank AG raised its holdings in PTC by 13.6% in the 1st quarter. Deutsche Bank AG now owns 785,786 shares of the technology company’s stock valued at $121,758,000 after acquiring an additional 93,788 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of PTC by 5.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 865,034 shares of the technology company’s stock valued at $134,037,000 after purchasing an additional 43,072 shares during the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on PTC shares. Piper Sandler dropped their price objective on shares of PTC from $202.00 to $180.00 and set a “neutral” rating for the company in a report on Thursday, May 1st. KeyCorp reduced their target price on shares of PTC from $211.00 to $185.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 16th. BMO Capital Markets boosted their price objective on PTC from $183.00 to $187.00 and gave the company an “outperform” rating in a report on Thursday, May 1st. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $160.00 target price (down from $210.00) on shares of PTC in a research report on Wednesday, April 9th. Finally, Mizuho decreased their price objective on PTC from $190.00 to $160.00 and set a “neutral” rating for the company in a report on Tuesday, April 15th. Five equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $187.15.

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.