PTC Inc. (NASDAQ:PTC) Director Sells $685,360.00 in Stock

PTC Inc. (NASDAQ:PTC) Director Janice Chaffin sold 4,000 shares of the stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $171.34, for a total value of $685,360.00. Following the transaction, the director now owns 44,137 shares in the company, valued at approximately $7,562,433.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Janice Chaffin also recently made the following trade(s):

• On Friday, July 12th, Janice Chaffin sold 4,000 shares of PTC stock. The stock was sold at an average price of $179.33, for a total value of $717,320.00.
• On Wednesday, June 12th, Janice Chaffin sold 4,000 shares of PTC stock. The stock was sold at an average price of $178.20, for a total transaction of $712,800.00.

PTC Price Performance

Shares of PTC stock traded up $1.90 during mid-day trading on Tuesday, reaching $172.09. 417,713 shares of the stock were exchanged, compared to its average volume of 838,363. PTC Inc. has a fifty-two week low of $134.61 and a fifty-two week high of $194.24. The company has a market cap of $20.60 billion, a price-to-earnings ratio of 71.21, a price-to-earnings-growth ratio of 3.16 and a beta of 1.18. The firm has a 50-day simple moving average of $176.62 and a 200 day simple moving average of $180.00. The company has a current ratio of 0.70, a quick ratio of 0.76 and a debt-to-equity ratio of 0.43.

Institutional Trading of PTC

Hedge funds and other institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP grew its stake in shares of PTC by 1,409.3% during the fourth quarter. Wellington Management Group LLP now owns 1,680,421 shares of the technology company’s stock valued at $294,006,000 after purchasing an additional 1,569,081 shares during the last quarter. Twin Focus Capital Partners LLC acquired a new position in PTC during the 4th quarter worth $177,081,000. Norges Bank bought a new position in PTC in the 4th quarter valued at $114,043,000. Balyasny Asset Management L.P. increased its stake in shares of PTC by 173.8% in the 4th quarter. Balyasny Asset Management L.P. now owns 543,266 shares of the technology company’s stock valued at $95,050,000 after buying an additional 344,853 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its position in shares of PTC by 66.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 773,804 shares of the technology company’s stock worth $140,577,000 after acquiring an additional 310,092 shares during the last quarter. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. Robert W. Baird raised their price target on shares of PTC from $210.00 to $216.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Citigroup reduced their price objective on PTC from $195.00 to $187.00 and set a “neutral” rating for the company in a research report on Thursday, May 2nd. Royal Bank of Canada restated an “outperform” rating and set a $202.00 price objective on shares of PTC in a research report on Thursday, August 1st. Rosenblatt Securities raised their target price on PTC from $190.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, Piper Sandler boosted their price target on shares of PTC from $177.00 to $182.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, PTC currently has an average rating of “Moderate Buy” and an average target price of $200.18.

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.