ARK Investment Management LLC Has $3.36 Million Position in PTC Inc. (NASDAQ:PTC)

ARK Investment Management LLC decreased its holdings in shares of PTC Inc. (NASDAQ:PTC) by 11.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,248 shares of the technology company’s stock after selling 2,383 shares during the period. ARK Investment Management LLC’s holdings in PTC were worth $3,355,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of PTC. US Bancorp DE boosted its position in shares of PTC by 67.7% during the third quarter. US Bancorp DE now owns 14,165 shares of the technology company’s stock valued at $2,559,000 after buying an additional 5,717 shares during the last quarter. Mirabella Financial Services LLP lifted its stake in PTC by 542.2% during the 3rd quarter. Mirabella Financial Services LLP now owns 20,686 shares of the technology company’s stock valued at $3,640,000 after acquiring an additional 17,465 shares in the last quarter. D1 Capital Partners L.P. purchased a new position in PTC during the 3rd quarter worth $84,549,000. Citigroup Inc. grew its stake in shares of PTC by 28.4% in the 3rd quarter. Citigroup Inc. now owns 149,293 shares of the technology company’s stock worth $26,971,000 after acquiring an additional 32,984 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its position in shares of PTC by 33.7% during the third quarter. JPMorgan Chase & Co. now owns 537,989 shares of the technology company’s stock valued at $97,193,000 after purchasing an additional 135,677 shares in the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

Analyst Ratings Changes

PTC has been the subject of a number of recent analyst reports. Citigroup reduced their price objective on shares of PTC from $200.00 to $195.00 and set a “neutral” rating for the company in a research report on Wednesday, February 5th. JPMorgan Chase & Co. lifted their price target on PTC from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. Rosenblatt Securities reissued a “buy” rating and issued a $204.00 price objective on shares of PTC in a research report on Tuesday, February 4th. StockNews.com raised PTC from a “hold” rating to a “buy” rating in a research report on Friday, February 21st. Finally, Stifel Nicolaus boosted their price target on shares of PTC from $200.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $210.09.

PTC Stock Performance

Shares of PTC stock opened at $163.03 on Thursday. The firm’s 50 day moving average is $180.94 and its 200 day moving average is $183.08. The stock has a market capitalization of $19.62 billion, a P/E ratio of 50.32, a PEG ratio of 2.27 and a beta of 1.19. PTC Inc. has a 12 month low of $160.53 and a 12 month high of $203.09. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.32.

PTC (NASDAQ:PTC) last posted its earnings results on Wednesday, February 5th. The technology company reported $0.79 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.91 by ($0.12). PTC had a return on equity of 14.49% and a net margin of 16.95%. On average, sell-side analysts anticipate that PTC Inc. will post 4.46 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Staats Aaron C. Von sold 5,373 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $200.13, for a total transaction of $1,075,298.49. Following the sale, the executive vice president now owns 21,707 shares of the company’s stock, valued at approximately $4,344,221.91. This represents a 19.84 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Kristian Talvitie sold 10,306 shares of the firm’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $199.34, for a total transaction of $2,054,398.04. Following the completion of the transaction, the chief financial officer now directly owns 57,134 shares of the company’s stock, valued at approximately $11,389,091.56. The trade was a 15.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by insiders.

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.