Insider Selling: PTC Inc. (NASDAQ:PTC) Director Sells 800 Shares of Stock

PTC Inc. (NASDAQ:PTC) Director Corinna Lathan sold 800 shares of the business’s stock in a transaction that occurred on Friday, September 15th. The shares were sold at an average price of $140.71, for a total transaction of $112,568.00. Following the transaction, the director now owns 7,703 shares of the company’s stock, valued at $1,083,889.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

PTC Stock Performance

NASDAQ PTC opened at $143.27 on Tuesday. The company has a market capitalization of $17.03 billion, a price-to-earnings ratio of 55.75, a PEG ratio of 3.74 and a beta of 1.18. PTC Inc. has a twelve month low of $101.82 and a twelve month high of $152.09. The stock has a fifty day simple moving average of $143.92 and a 200 day simple moving average of $135.15. The company has a quick ratio of 0.68, a current ratio of 0.68 and a debt-to-equity ratio of 0.67.

PTC (NASDAQ:PTC) last posted its quarterly earnings data on Wednesday, July 26th. The technology company reported $0.64 earnings per share for the quarter, missing analysts’ consensus estimates of $0.68 by ($0.04). The company had revenue of $542.34 million during the quarter, compared to analyst estimates of $530.35 million. PTC had a net margin of 14.90% and a return on equity of 15.41%. Sell-side analysts expect that PTC Inc. will post 2.94 EPS for the current year.

Institutional Investors Weigh In On PTC

Several large investors have recently modified their holdings of PTC. Portside Wealth Group LLC purchased a new position in shares of PTC in the second quarter worth about $4,621,000. Comerica Bank purchased a new position in shares of PTC in the second quarter worth $1,084,000. Osaic Holdings Inc. increased its stake in shares of PTC by 70.7% in the second quarter. Osaic Holdings Inc. now owns 17,817 shares of the technology company’s stock worth $2,535,000 after buying an additional 7,378 shares during the period. Nuveen Asset Management LLC increased its stake in shares of PTC by 42.8% in the second quarter. Nuveen Asset Management LLC now owns 591,220 shares of the technology company’s stock worth $84,131,000 after buying an additional 177,187 shares during the period. Finally, National Pension Service increased its stake in shares of PTC by 1.7% in the second quarter. National Pension Service now owns 199,138 shares of the technology company’s stock worth $28,403,000 after buying an additional 3,354 shares during the period. 92.23% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on PTC. Royal Bank of Canada boosted their price objective on shares of PTC from $158.00 to $165.00 and gave the company an “outperform” rating in a research report on Monday, July 24th. Rosenblatt Securities boosted their target price on PTC from $148.00 to $159.00 in a research note on Thursday, July 27th. BMO Capital Markets assumed coverage on PTC in a research note on Wednesday, May 24th. They set an “outperform” rating and a $166.00 target price for the company. StockNews.com assumed coverage on PTC in a research note on Thursday, August 17th. They set a “hold” rating for the company. Finally, Piper Sandler reissued a “neutral” rating and set a $150.00 target price on shares of PTC in a research note on Thursday, July 27th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $160.92.

PTC Company Profile

PTC Inc operates as software company in the Americas, Europe, and the Asia Pacific. The company operates in two segments, Software Products and Professional Services. It offers ThingWorx platform, which offers end-to-end capabilities to enable digital transformation; and Vuforia, which enables the creation of AR.