ARK Investment Management LLC Lowers Stock Position in PTC Inc. (NASDAQ:PTC)

ARK Investment Management LLC lessened its stake in PTC Inc. (NASDAQ:PTC) by 11.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,248 shares of the technology company’s stock after selling 2,383 shares during the period. ARK Investment Management LLC’s holdings in PTC were worth $3,355,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. US Bancorp DE lifted its holdings in shares of PTC by 67.7% during the 3rd quarter. US Bancorp DE now owns 14,165 shares of the technology company’s stock worth $2,559,000 after acquiring an additional 5,717 shares during the last quarter. Mirabella Financial Services LLP raised its position in PTC by 542.2% during the third quarter. Mirabella Financial Services LLP now owns 20,686 shares of the technology company’s stock valued at $3,640,000 after purchasing an additional 17,465 shares in the last quarter. D1 Capital Partners L.P. bought a new stake in PTC during the third quarter worth about $84,549,000. Citigroup Inc. lifted its stake in PTC by 28.4% during the third quarter. Citigroup Inc. now owns 149,293 shares of the technology company’s stock worth $26,971,000 after purchasing an additional 32,984 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in shares of PTC by 33.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 537,989 shares of the technology company’s stock worth $97,193,000 after purchasing an additional 135,677 shares in the last quarter. Institutional investors own 95.14% of the company’s stock.

PTC Price Performance

Shares of PTC stock opened at $163.03 on Thursday. The company’s fifty day simple moving average is $180.94 and its two-hundred day simple moving average is $183.08. PTC Inc. has a 12-month low of $160.53 and a 12-month high of $203.09. The firm has a market cap of $19.62 billion, a PE ratio of 50.32, a price-to-earnings-growth ratio of 2.27 and a beta of 1.19. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.32.

PTC (NASDAQ:PTC) last released its quarterly earnings results on Wednesday, February 5th. The technology company reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.12). PTC had a net margin of 16.95% and a return on equity of 14.49%. As a group, equities analysts expect that PTC Inc. will post 4.46 EPS for the current year.

Insider Buying and Selling at PTC

In related news, CFO Kristian Talvitie sold 10,306 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $199.34, for a total transaction of $2,054,398.04. Following the completion of the sale, the chief financial officer now owns 57,134 shares in the company, valued at approximately $11,389,091.56. This represents a 15.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Staats Aaron C. Von sold 5,373 shares of the business’s stock in a transaction dated Monday, December 9th. The shares were sold at an average price of $200.13, for a total value of $1,075,298.49. Following the sale, the executive vice president now owns 21,707 shares of the company’s stock, valued at approximately $4,344,221.91. This represents a 19.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.32% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on PTC shares. Robert W. Baird raised their price objective on PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. KeyCorp lifted their price target on shares of PTC from $205.00 to $211.00 and gave the stock an “overweight” rating in a research note on Thursday, February 6th. JPMorgan Chase & Co. boosted their price objective on shares of PTC from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. Stifel Nicolaus increased their target price on shares of PTC from $200.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Finally, Citigroup decreased their target price on shares of PTC from $200.00 to $195.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 5th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $210.09.

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.