Insider Selling: PTC Inc. (NASDAQ:PTC) CAO Sells 1,703 Shares of Stock

PTC Inc. (NASDAQ:PTC) CAO Alice Christenson sold 1,703 shares of the company’s stock in a transaction dated Thursday, November 21st. The stock was 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 of the company’s stock, valued at $160,356. The trade was a 67.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

PTC Stock Performance

PTC stock opened at $197.64 on Monday. 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 company has a market cap of $23.74 billion, a P/E ratio of 63.55, a price-to-earnings-growth ratio of 2.68 and a beta of 1.17. PTC Inc. has a fifty-two week low of $153.11 and a fifty-two week high of $199.48. The firm’s 50 day simple moving average is $184.36 and its 200-day simple moving average is $179.29.

Hedge Funds Weigh In On PTC

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Blue Trust Inc. increased its stake in PTC by 762.5% in the 2nd quarter. Blue Trust Inc. now owns 138 shares of the technology company’s stock valued at $26,000 after buying an additional 122 shares during the period. First Horizon Advisors Inc. raised its holdings in shares of PTC by 77.5% during the second quarter. First Horizon Advisors Inc. now owns 142 shares of the technology company’s stock worth $26,000 after acquiring an additional 62 shares in the last quarter. Rothschild Investment LLC acquired a new stake in PTC during the second quarter valued at $29,000. International Assets Investment Management LLC purchased a new position in PTC in the second quarter valued at about $30,000. Finally, OFI Invest Asset Management acquired a new position in PTC in the 2nd quarter worth about $31,000. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PTC has been the topic of a number of recent analyst reports. Robert W. Baird boosted their price target on shares of PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Berenberg Bank cut PTC from a “buy” rating to a “hold” rating and dropped their target price for the stock from $210.00 to $196.00 in a report on Friday, November 1st. Rosenblatt Securities reaffirmed a “buy” rating and set a $195.00 price target on shares of PTC in a research note on Thursday, October 10th. Royal Bank of Canada boosted their price objective on PTC from $202.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, StockNews.com raised PTC from a “hold” rating to a “buy” rating in a report on Friday, November 8th. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $204.83.

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.