Amalgamated Bank Sells 350 Shares of PTC Inc. (NASDAQ:PTC)

Amalgamated Bank trimmed its position in shares of PTC Inc. (NASDAQ:PTC) by 1.4% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 24,189 shares of the technology company’s stock after selling 350 shares during the quarter. Amalgamated Bank’s holdings in PTC were worth $4,448,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its stake in PTC by 8.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 6,238 shares of the technology company’s stock valued at $1,127,000 after buying an additional 493 shares during the last quarter. International Assets Investment Management LLC raised its position in PTC by 786.5% in the 3rd quarter. International Assets Investment Management LLC now owns 1,445 shares of the technology company’s stock worth $261,000 after buying an additional 1,282 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in PTC by 35.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 8,438 shares of the technology company’s stock valued at $1,537,000 after acquiring an additional 2,216 shares during the period. Nisa Investment Advisors LLC grew its stake in shares of PTC by 0.4% in the third quarter. Nisa Investment Advisors LLC now owns 24,687 shares of the technology company’s stock worth $4,460,000 after acquiring an additional 100 shares during the period. Finally, abrdn plc raised its holdings in shares of PTC by 14.7% during the third quarter. abrdn plc now owns 119,042 shares of the technology company’s stock valued at $21,559,000 after purchasing an additional 15,239 shares during the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

PTC Trading Up 0.5 %

PTC stock opened at $163.63 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.69 and a quick ratio of 0.69. The firm’s 50 day moving average price is $179.98 and its 200-day moving average price is $182.89. PTC Inc. has a 1 year low of $160.53 and a 1 year high of $203.09. The stock has a market cap of $19.69 billion, a P/E ratio of 50.50, a PEG ratio of 2.27 and a beta of 1.19.

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

Insider Transactions at PTC

In other PTC news, CFO Kristian Talvitie sold 10,306 shares of the business’s stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 57,134 shares of the company’s stock, valued at $11,389,091.56. The trade was a 15.28 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Staats Aaron C. Von sold 5,373 shares of the firm’s stock in a transaction on Monday, December 9th. The stock was sold at an average price of $200.13, for a total value of $1,075,298.49. Following the completion of 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. Insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on PTC. StockNews.com downgraded PTC from a “buy” rating to a “hold” rating in a research note on Saturday. Piper Sandler upped their price target on shares of PTC from $182.00 to $202.00 and gave the company a “neutral” rating in a research report on Thursday, November 7th. Rosenblatt Securities reissued a “buy” rating and issued a $204.00 price objective on shares of PTC in a report on Tuesday, February 4th. JPMorgan Chase & Co. upped their target price on shares of PTC from $200.00 to $210.00 and gave the company an “overweight” rating in a report on Monday, December 2nd. Finally, Berenberg Bank lowered PTC from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $210.00 to $196.00 in a research note on Friday, November 1st. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus 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.