Insider Selling: PTC Inc. (NASDAQ:PTC) Director Sells 622 Shares of Stock

PTC Inc. (NASDAQ:PTC) Director Corinna Lathan sold 622 shares of PTC stock in a transaction on Monday, March 17th. The shares were sold at an average price of $155.53, for a total value of $96,739.66. Following the sale, the director now directly owns 7,604 shares of the company’s stock, valued at $1,182,650.12. This represents a 7.56 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

PTC Stock Performance

NASDAQ PTC opened at $159.84 on Friday. The firm has a market cap of $19.23 billion, a price-to-earnings ratio of 49.33, a PEG ratio of 2.27 and a beta of 1.22. PTC Inc. has a 12-month low of $151.80 and a 12-month high of $203.09. The company has a 50-day simple moving average of $172.37 and a two-hundred day simple moving average of $181.17. 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 issued its 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%. On average, equities analysts forecast that PTC Inc. will post 4.46 EPS for the current year.

Institutional Investors Weigh In On PTC

Several institutional investors have recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd purchased a new stake in PTC in the 4th quarter worth approximately $30,000. Allworth Financial LP lifted its stake in PTC by 58.0% in the fourth quarter. Allworth Financial LP now owns 188 shares of the technology company’s stock worth $35,000 after acquiring an additional 69 shares during the period. Pinney & Scofield Inc. purchased a new stake in PTC in the fourth quarter worth $47,000. Kapitalo Investimentos Ltda purchased a new stake in PTC in the fourth quarter worth $51,000. Finally, Assetmark Inc. lifted its position in shares of PTC by 825.0% in the 4th quarter. Assetmark Inc. now owns 333 shares of the technology company’s stock worth $61,000 after purchasing an additional 297 shares during the period. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PTC shares. KeyCorp lifted their price target on PTC from $205.00 to $211.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. lifted their target price on shares of PTC from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Monday, December 2nd. StockNews.com downgraded shares of PTC from a “buy” rating to a “hold” rating in a report on Monday, March 17th. Rosenblatt Securities reaffirmed a “buy” rating and set a $204.00 price objective on shares of PTC in a report on Tuesday, February 4th. Finally, Stifel Nicolaus lifted their price objective on shares of PTC from $200.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $210.09.

About PTC

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.