PTC Inc. (NASDAQ:PTC) Shares Sold by Ascent Group LLC

Ascent Group LLC trimmed its holdings in shares of PTC Inc. (NASDAQ:PTC) by 4.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 13,735 shares of the technology company’s stock after selling 674 shares during the period. Ascent Group LLC’s holdings in PTC were worth $2,481,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. US Bancorp DE raised its position in shares of PTC by 67.7% in the third quarter. US Bancorp DE now owns 14,165 shares of the technology company’s stock valued at $2,559,000 after buying an additional 5,717 shares during the last quarter. Mirabella Financial Services LLP raised its position in shares of PTC by 542.2% in the third quarter. Mirabella Financial Services LLP now owns 20,686 shares of the technology company’s stock valued at $3,640,000 after buying an additional 17,465 shares during the last quarter. D1 Capital Partners L.P. acquired a new stake in shares of PTC in the third quarter valued at about $84,549,000. Citigroup Inc. raised its position in shares of PTC by 28.4% in the third quarter. Citigroup Inc. now owns 149,293 shares of the technology company’s stock valued at $26,971,000 after buying an additional 32,984 shares during the last quarter. Finally, Swedbank AB raised its position in shares of PTC by 12.6% in the second quarter. Swedbank AB now owns 58,672 shares of the technology company’s stock valued at $10,659,000 after buying an additional 6,543 shares during the last quarter. 95.14% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PTC has been the subject of a number of recent research reports. Berenberg Bank cut shares of PTC from a “buy” rating to a “hold” rating and reduced their target price for the company from $210.00 to $196.00 in a research report on Friday, November 1st. Robert W. Baird increased their target price on shares of PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. raised their price objective on shares of PTC from $200.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday. StockNews.com upgraded shares of PTC from a “hold” rating to a “buy” rating in a research report on Friday, November 8th. Finally, Piper Sandler raised their price objective on shares of PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $205.67.

Insider Activity

In other news, Director Corinna Lathan sold 860 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $200.00, for a total value of $172,000.00. Following the completion of the transaction, the director now owns 6,843 shares of the company’s stock, valued at approximately $1,368,600. This trade represents a 11.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Alice Christenson sold 1,703 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $193.20, for a total transaction of $329,019.60. Following the completion of the transaction, the chief accounting officer now directly owns 830 shares of the company’s stock, valued at approximately $160,356. The trade was a 67.23 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.17% of the company’s stock.

PTC Trading Down 0.3 %

Shares of PTC stock opened at $199.38 on Tuesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.78 and a quick ratio of 0.78. The firm has a market cap of $23.95 billion, a PE ratio of 64.11, a price-to-earnings-growth ratio of 2.71 and a beta of 1.16. The company has a 50-day moving average of $187.15 and a two-hundred day moving average of $180.07. PTC Inc. has a 1-year low of $157.72 and a 1-year high of $201.66.

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.