The Manufacturers Life Insurance Company Sells 1,100 Shares of PTC Inc. (NASDAQ:PTC)

The Manufacturers Life Insurance Company lowered its holdings in shares of PTC Inc. (NASDAQ:PTC) by 1.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,495 shares of the technology company’s stock after selling 1,100 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.06% of PTC worth $13,352,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. First Horizon Advisors Inc. grew its stake in shares of 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 buying an additional 62 shares during the last quarter. Blue Trust Inc. grew 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 acquiring an additional 122 shares during the last quarter. Rothschild Investment LLC bought a new position in shares of PTC during the second quarter valued at $29,000. International Assets Investment Management LLC purchased a new position in shares of PTC in the 2nd quarter worth about $30,000. Finally, OFI Invest Asset Management bought a new position in PTC in the 2nd quarter worth about $31,000. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the stock. Piper Sandler lifted their target price on shares of PTC from $177.00 to $182.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. StockNews.com cut PTC from a “buy” rating to a “hold” rating in a research report on Monday, August 5th. Rosenblatt Securities lifted their target price on PTC from $190.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $202.00 price target on shares of PTC in a report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $200.18.

PTC Trading Up 1.1 %

PTC stock opened at $177.91 on Thursday. The business has a 50-day simple moving average of $174.27 and a two-hundred day simple moving average of $178.21. PTC Inc. has a 52-week low of $134.61 and a 52-week high of $194.24. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.43. The company has a market cap of $21.37 billion, a P/E ratio of 74.44, a P/E/G ratio of 3.40 and a beta of 1.18.

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

Insider Buying and Selling

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

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.