PTC Inc. (NASDAQ:PTC) Position Trimmed by Pathstone Holdings LLC

Pathstone Holdings LLC trimmed its stake in PTC Inc. (NASDAQ:PTC) by 4.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,589 shares of the technology company’s stock after selling 353 shares during the quarter. Pathstone Holdings LLC’s holdings in PTC were worth $1,371,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Congress Asset Management Co. grew its stake in PTC by 767.8% in the third quarter. Congress Asset Management Co. now owns 662,826 shares of the technology company’s stock valued at $119,746,000 after purchasing an additional 586,443 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in PTC by 66.9% during the second quarter. Massachusetts Financial Services Co. MA now owns 773,804 shares of the technology company’s stock valued at $140,577,000 after acquiring an additional 310,092 shares in the last quarter. Railway Pension Investments Ltd acquired a new stake in PTC in the second quarter valued at approximately $24,416,000. Van Lanschot Kempen Investment Management N.V. grew its position in PTC by 13.2% in the second quarter. Van Lanschot Kempen Investment Management N.V. now owns 768,810 shares of the technology company’s stock worth $139,670,000 after acquiring an additional 89,678 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC grew its position in PTC by 46.1% in the second quarter. Kayne Anderson Rudnick Investment Management LLC now owns 253,149 shares of the technology company’s stock worth $45,990,000 after acquiring an additional 79,855 shares in the last quarter. 95.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on PTC shares. StockNews.com raised shares of PTC from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Rosenblatt Securities reiterated a “buy” rating and set a $195.00 price target on shares of PTC in a research note on Thursday, October 10th. Robert W. Baird raised their price objective on PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Piper Sandler boosted their target price on PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a report on Thursday, November 7th. Finally, Berenberg Bank downgraded PTC from a “buy” rating to a “hold” rating and lowered their price target for the company from $210.00 to $196.00 in a report on Friday, November 1st. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $204.83.

Insider Buying and Selling at PTC

In related news, Director Corinna Lathan sold 860 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $200.00, for a total value of $172,000.00. Following the sale, the director now owns 6,843 shares of the company’s stock, valued at $1,368,600. The trade was a 11.16 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CAO Alice Christenson sold 1,703 shares of PTC stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $193.20, for a total value of $329,019.60. Following the sale, the chief accounting officer now directly owns 830 shares in the company, valued at $160,356. The trade was a 67.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.17% of the company’s stock.

PTC Price Performance

Shares of PTC stock opened at $199.01 on Friday. 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 $23.91 billion, a PE ratio of 63.99, a price-to-earnings-growth ratio of 2.72 and a beta of 1.17. The firm has a fifty day moving average price of $186.24 and a two-hundred day moving average price of $179.84. PTC Inc. has a fifty-two week low of $153.44 and a fifty-two week high of $201.66.

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.