PTC Inc. (NASDAQ:PTC) Stock Holdings Lessened by Legal Advantage Investments Inc.

Legal Advantage Investments Inc. lowered its position in PTC Inc. (NASDAQ:PTC) by 5.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,300 shares of the technology company’s stock after selling 200 shares during the period. Legal Advantage Investments Inc.’s holdings in PTC were worth $607,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp grew its holdings in PTC by 2.7% during the third quarter. State Street Corp now owns 5,076,319 shares of the technology company’s stock valued at $917,088,000 after purchasing an additional 133,370 shares during the last quarter. Geode Capital Management LLC grew its holdings in PTC by 1.3% during the third quarter. Geode Capital Management LLC now owns 2,961,897 shares of the technology company’s stock valued at $533,341,000 after purchasing an additional 37,645 shares during the last quarter. Fernbridge Capital Management LP grew its holdings in PTC by 83.7% during the third quarter. Fernbridge Capital Management LP now owns 1,429,005 shares of the technology company’s stock valued at $258,164,000 after purchasing an additional 650,990 shares during the last quarter. Franklin Resources Inc. grew its holdings in PTC by 2.9% during the third quarter. Franklin Resources Inc. now owns 1,096,837 shares of the technology company’s stock valued at $203,463,000 after purchasing an additional 30,525 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in PTC by 19.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 924,456 shares of the technology company’s stock valued at $167,012,000 after purchasing an additional 150,652 shares during the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

Insider Transactions at PTC

In other news, EVP Staats Aaron C. Von sold 5,373 shares of the business’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $200.13, for a total transaction of $1,075,298.49. Following the completion of the transaction, the executive vice president now directly owns 21,707 shares in the company, valued at approximately $4,344,221.91. The trade was a 19.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Alice Christenson sold 1,703 shares of PTC 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 transaction, the chief accounting officer now owns 830 shares in the company, valued at $160,356. This trade represents a 67.23 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,242 shares of company stock worth $3,630,716. 0.32% of the stock is currently owned by company insiders.

PTC Price Performance

Shares of PTC stock opened at $187.79 on Tuesday. The stock has a 50-day moving average price of $191.52 and a 200 day moving average price of $182.97. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.38. The firm has a market cap of $22.60 billion, a price-to-earnings ratio of 60.38, a PEG ratio of 2.55 and a beta of 1.18. PTC Inc. has a 12 month low of $163.30 and a 12 month high of $203.09.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on PTC shares. Stifel Nicolaus raised their price objective on shares of PTC from $200.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Royal Bank of Canada raised their price objective on shares of PTC from $202.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Robert W. Baird raised their price objective on shares of PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Piper Sandler raised their target price on PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Finally, Berenberg Bank cut PTC from a “buy” rating to a “hold” rating and reduced their target price for the stock from $210.00 to $196.00 in a research report on Friday, November 1st. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $207.54.

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.