Toronto Dominion Bank Sells 32,833 Shares of PTC Inc. (NASDAQ:PTC)

Toronto Dominion Bank decreased its position in PTC Inc. (NASDAQ:PTC) by 44.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 40,581 shares of the technology company’s stock after selling 32,833 shares during the quarter. Toronto Dominion Bank’s holdings in PTC were worth $7,372,000 as of its most recent SEC filing.

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

PTC Price Performance

PTC stock opened at $182.18 on Friday. The business has a 50 day simple moving average of $174.14 and a 200 day simple moving average of $178.40. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.70 and a quick ratio of 0.70. The company has a market capitalization of $21.89 billion, a PE ratio of 76.23, a price-to-earnings-growth ratio of 3.31 and a beta of 1.18. PTC Inc. has a one year low of $134.61 and a one year high of $194.24.

PTC (NASDAQ:PTC) last issued its quarterly earnings data on Wednesday, July 31st. The technology company reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02. PTC had a return on equity of 13.36% and a net margin of 13.32%. The company had revenue of $518.64 million during the quarter, compared to analysts’ expectations of $533.04 million. On average, sell-side analysts forecast that PTC Inc. will post 3.52 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Staats Aaron C. Von sold 1,000 shares of PTC stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $170.00, for a total value of $170,000.00. Following the completion of the transaction, the executive vice president now owns 13,902 shares in the company, valued at $2,363,340. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Staats Aaron C. Von sold 1,000 shares of the firm’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 completion of the sale, the executive vice president now directly owns 13,902 shares in the company, valued at $2,363,340. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Robert Schechter sold 5,000 shares of the company’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $171.73, for a total transaction of $858,650.00. Following the transaction, the director now owns 59,616 shares in the company, valued at approximately $10,237,855.68. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,000 shares of company stock valued at $2,431,330. 1.17% of the stock is currently owned by insiders.

Analysts Set New Price Targets

PTC has been the subject of a number of research analyst reports. StockNews.com lowered PTC from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Royal Bank of Canada reiterated an “outperform” rating and set a $202.00 target price on shares of PTC in a research note on Thursday, August 1st. Piper Sandler raised their price target 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. Mizuho reaffirmed a “neutral” rating and set a $190.00 price objective (down previously from $200.00) on shares of PTC in a research report on Tuesday, June 4th. Finally, Rosenblatt Securities lifted 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. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, PTC presently has a consensus rating of “Moderate Buy” and an average price target of $200.18.

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.