Fmr LLC Sells 1,984,621 Shares of PTC Inc. (NASDAQ:PTC)

Fmr LLC lessened its position in shares of PTC Inc. (NASDAQ:PTC) by 68.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 935,038 shares of the technology company’s stock after selling 1,984,621 shares during the period. Fmr LLC owned approximately 0.78% of PTC worth $168,924,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. GAMMA Investing LLC boosted its holdings in shares of PTC by 53.7% in the 2nd quarter. GAMMA Investing LLC now owns 1,620 shares of the technology company’s stock valued at $294,000 after purchasing an additional 566 shares in the last quarter. Massmutual Trust Co. FSB ADV grew its position in PTC by 98.9% in the second quarter. Massmutual Trust Co. FSB ADV now owns 354 shares of the technology company’s stock valued at $64,000 after acquiring an additional 176 shares during the last quarter. Mather Group LLC. raised its stake in PTC by 14.8% during the second quarter. Mather Group LLC. now owns 713 shares of the technology company’s stock worth $135,000 after acquiring an additional 92 shares in the last quarter. CWM LLC lifted its holdings in shares of PTC by 112.0% in the second quarter. CWM LLC now owns 7,189 shares of the technology company’s stock worth $1,306,000 after acquiring an additional 3,798 shares during the last quarter. Finally, Contravisory Investment Management Inc. boosted its stake in shares of PTC by 4.3% in the 2nd quarter. Contravisory Investment Management Inc. now owns 4,918 shares of the technology company’s stock valued at $893,000 after purchasing an additional 204 shares in the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

Insider Transactions at PTC

In other news, Director Corinna Lathan sold 860 shares of the stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $200.00, for a total transaction of $172,000.00. Following the transaction, the director now owns 6,843 shares of the company’s stock, valued at $1,368,600. This represents a 11.16 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Alice Christenson sold 1,703 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $193.20, for a total value 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.17% of the company’s stock.

PTC Stock Performance

PTC stock opened at $199.38 on Tuesday. The firm has a market cap of $23.95 billion, a PE ratio of 64.11, a price-to-earnings-growth ratio of 2.71 and a beta of 1.17. The company has a current ratio of 0.78, a quick ratio of 0.78 and a debt-to-equity ratio of 0.38. The stock has a 50-day moving average price of $187.15 and a 200-day moving average price of $180.07. PTC Inc. has a 1-year low of $157.72 and a 1-year high of $201.66.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on PTC shares. Berenberg Bank lowered shares of PTC from a “buy” rating to a “hold” rating and cut their target price for the company from $210.00 to $196.00 in a research report on Friday, November 1st. Rosenblatt Securities reaffirmed a “buy” rating and issued a $195.00 target price on shares of PTC in a report on Thursday, October 10th. JPMorgan Chase & Co. lifted their price target on PTC from $200.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday. Royal Bank of Canada upped their price objective on PTC from $202.00 to $230.00 and gave the company an “outperform” rating in a research note on Thursday, November 7th. Finally, Robert W. Baird lifted their target price 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. Four research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $205.67.

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.