Envestnet Asset Management Inc. Lowers Stock Holdings in PTC Inc. (NASDAQ:PTC)

Envestnet Asset Management Inc. lowered its position in PTC Inc. (NASDAQ:PTC) by 10.3% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 53,779 shares of the technology company’s stock after selling 6,146 shares during the quarter. Envestnet Asset Management Inc.’s holdings in PTC were worth $9,770,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. First Horizon Advisors Inc. boosted its stake in shares of PTC by 77.5% in 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 during the period. Blue Trust Inc. lifted its holdings in PTC by 762.5% in the 2nd quarter. Blue Trust Inc. now owns 138 shares of the technology company’s stock worth $26,000 after purchasing an additional 122 shares in the last quarter. Rothschild Investment LLC bought a new position in PTC in the 2nd quarter worth approximately $29,000. International Assets Investment Management LLC purchased a new stake in PTC during the 2nd quarter valued at approximately $30,000. Finally, OFI Invest Asset Management bought a new stake in shares of PTC during the second quarter valued at approximately $31,000. Hedge funds and other institutional investors own 95.14% of the company’s stock.

PTC Trading Up 2.7 %

Shares of PTC stock opened at $181.01 on Friday. The company has a market cap of $21.67 billion, a PE ratio of 75.27, a price-to-earnings-growth ratio of 3.32 and a beta of 1.18. PTC Inc. has a 1 year low of $134.61 and a 1 year high of $194.24. The stock’s 50 day simple moving average is $173.92 and its two-hundred day simple moving average is $178.41. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.70 and a quick ratio of 0.70.

PTC (NASDAQ:PTC) last released its quarterly earnings results on Wednesday, July 31st. The technology company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.64 by $0.02. The company had revenue of $518.64 million for the quarter, compared to analyst estimates of $533.04 million. PTC had a return on equity of 13.36% and a net margin of 13.32%. Research analysts predict that PTC Inc. will post 3.52 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on PTC shares. Piper Sandler upped their target price on shares of PTC from $177.00 to $182.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. StockNews.com downgraded shares of PTC from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Mizuho reaffirmed a “neutral” rating and issued a $190.00 target price (down from $200.00) on shares of PTC in a report on Tuesday, June 4th. Rosenblatt Securities boosted 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, Royal Bank of Canada restated an “outperform” rating and set a $202.00 price target on shares of PTC in a report on Thursday, August 1st. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, PTC currently has a consensus rating of “Moderate Buy” and an average price target of $200.18.

Insider Activity

In related news, Director Janice Chaffin sold 4,000 shares of PTC stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $179.33, for a total transaction of $717,320.00. Following the completion of the transaction, the director now directly owns 48,137 shares of the company’s stock, valued at approximately $8,632,408.21. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other PTC news, EVP Staats Aaron C. Von sold 1,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $170.00, for a total value of $170,000.00. Following the transaction, the executive vice president now owns 13,902 shares of the company’s stock, valued at approximately $2,363,340. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Janice Chaffin sold 4,000 shares of the stock in a transaction on Friday, July 12th. The stock was sold at an average price of $179.33, for a total value of $717,320.00. Following the completion of the sale, the director now owns 48,137 shares in the company, valued at approximately $8,632,408.21. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 14,000 shares of company stock valued at $2,431,330. 1.17% of the stock is currently owned by company insiders.

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.