ProShare Advisors LLC Decreases Stake in PTC Inc. (NASDAQ:PTC)

ProShare Advisors LLC cut its holdings in shares of PTC Inc. (NASDAQ:PTC) by 3.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,652 shares of the technology company’s stock after selling 750 shares during the quarter. ProShare Advisors LLC’s holdings in PTC were worth $4,280,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Wellington Management Group LLP increased its stake in shares of PTC by 153.9% in the 3rd quarter. Wellington Management Group LLP now owns 111,340 shares of the technology company’s stock worth $15,775,000 after acquiring an additional 67,493 shares during the last quarter. Dfpg Investments LLC raised its stake in PTC by 13.9% during the fourth quarter. Dfpg Investments LLC now owns 1,955 shares of the technology company’s stock worth $325,000 after purchasing an additional 239 shares during the period. Nordea Investment Management AB raised its stake in PTC by 3.7% during the fourth quarter. Nordea Investment Management AB now owns 8,918 shares of the technology company’s stock worth $1,562,000 after purchasing an additional 320 shares during the period. Raymond James Trust N.A. acquired a new position in PTC in the fourth quarter valued at approximately $230,000. Finally, IFM Investors Pty Ltd raised its position in PTC by 2.3% in the fourth quarter. IFM Investors Pty Ltd now owns 25,753 shares of the technology company’s stock valued at $4,506,000 after purchasing an additional 572 shares during the period. Hedge funds and other institutional investors own 95.14% of the company’s stock.

PTC Stock Down 2.1 %

Shares of NASDAQ PTC opened at $176.08 on Friday. The stock has a market cap of $21.08 billion, a P/E ratio of 73.67, a PEG ratio of 3.38 and a beta of 1.18. The business’s fifty day simple moving average is $179.07 and its 200-day simple moving average is $179.74. PTC Inc. has a 12-month low of $134.61 and a 12-month high of $194.24. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.51.

PTC (NASDAQ:PTC) last posted its quarterly earnings results on Wednesday, May 1st. The technology company reported $1.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.23. The company had revenue of $603.07 million for the quarter, compared to analyst estimates of $575.53 million. PTC had a return on equity of 13.76% and a net margin of 12.84%. As a group, equities analysts predict that PTC Inc. will post 3.48 EPS for the current fiscal year.

Insider Activity at PTC

In other PTC news, COO Michael Ditullio sold 6,592 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The shares were sold at an average price of $183.15, for a total transaction of $1,207,324.80. Following the completion of the transaction, the chief operating officer now owns 53,148 shares in the company, valued at approximately $9,734,056.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Janice Chaffin sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 12th. The shares were sold at an average price of $178.20, for a total transaction of $712,800.00. Following the completion of the sale, the director now owns 52,137 shares in the company, valued at approximately $9,290,813.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Michael Ditullio sold 6,592 shares of the stock in a transaction on Friday, May 24th. The shares were sold at an average price of $183.15, for a total transaction of $1,207,324.80. Following the completion of the transaction, the chief operating officer now directly owns 53,148 shares in the company, valued at $9,734,056.20. The disclosure for this sale can be found here. Insiders have sold a total of 15,846 shares of company stock valued at $2,854,951 over the last 90 days. 1.17% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

PTC has been the subject of a number of recent analyst reports. Rosenblatt Securities reissued a “buy” rating and set a $195.00 price objective on shares of PTC in a research report on Friday, April 12th. Robert W. Baird boosted their price target on shares of PTC from $210.00 to $216.00 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. Mizuho reaffirmed a “neutral” rating and set a $190.00 price objective (down previously from $200.00) on shares of PTC in a research report on Tuesday, June 4th. Citigroup dropped their target price on shares of PTC from $195.00 to $187.00 and set a “neutral” rating for the company in a report on Thursday, May 2nd. Finally, Barclays upped their price target on PTC from $198.00 to $215.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Three research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $199.73.

PTC 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.