Keeler Thomas Management LLC Sells 5,777 Shares of PTC Inc. $PTC

Keeler Thomas Management LLC trimmed its holdings in PTC Inc. (NASDAQ:PTC) by 26.3% in the third quarter, Holdings Channel reports. The institutional investor owned 16,171 shares of the technology company’s stock after selling 5,777 shares during the quarter. Keeler Thomas Management LLC’s holdings in PTC were worth $2,269,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Bank Julius Baer & Co. Ltd Zurich bought a new position in shares of PTC in the third quarter worth $1,325,000. Nippon Life Global Investors Americas Inc. grew its position in shares of PTC by 6.2% in the third quarter. Nippon Life Global Investors Americas Inc. now owns 10,740 shares of the technology company’s stock valued at $1,507,000 after purchasing an additional 630 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. grew its position in shares of PTC by 52.5% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 1,228,905 shares of the technology company’s stock valued at $172,415,000 after purchasing an additional 423,096 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of PTC during the 3rd quarter valued at $4,246,000. Finally, Vise Technologies Inc. bought a new stake in shares of PTC during the 3rd quarter valued at $316,000. Institutional investors own 95.14% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on PTC shares. JPMorgan Chase & Co. raised PTC from an “underweight” rating to a “neutral” rating and increased their price objective for the stock from $145.00 to $205.00 in a report on Monday, October 5th. Piper Sandler reduced their target price on PTC from $175.00 to $157.00 and set a “neutral” rating for the company in a report on Thursday, July 30th. Stifel Nicolaus set a $205.00 price target on PTC in a research report on Monday, October 5th. Weiss Ratings upgraded PTC from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, October 6th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of PTC to a “hold” rating and set a $205.00 price target on the stock. in a report on Monday, October 5th. Two research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. According to data from MarketBeat.com, PTC currently has a consensus rating of “Hold” and a consensus target price of $200.06.

PTC Stock Down 0.6%

Shares of NASDAQ:PTC opened at $194.31 on Tuesday. The firm has a fifty day moving average price of $163.72 and a two-hundred day moving average price of $147.52. The company has a market cap of $21.08 billion, a price-to-earnings ratio of 24.49, a PEG ratio of 2.56 and a beta of 0.99. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.03 and a quick ratio of 1.03. PTC Inc. has a one year low of $108.50 and a one year high of $198.76.

Insider Activity

In related news, Director Corinna Lathan sold 1,750 shares of the stock in a transaction on Monday, October 5th. The stock was sold at an average price of $195.75, for a total value of $342,562.50. Following the sale, the director owned 6,679 shares in the company, valued at approximately $1,307,414.25. This trade represents a 20.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.29% of the company’s stock.

PTC Company Profile

PTC Inc (NASDAQ: PTC) develops software that helps manufacturers and other industrial companies design, manage, and optimize products and production processes. Its portfolio supports computer-aided design, product lifecycle management, digital manufacturing, and industrial Internet of Things initiatives.

The company’s products include Creo for 3D computer-aided design and engineering, Windchill for product lifecycle management, and Codebeamer for application lifecycle management. PTC also offers ThingWorx for industrial connectivity and IoT applications, Kepware for industrial automation connectivity, and Vuforia for augmented reality solutions.

Founded in 1985, PTC serves customers globally across industries such as automotive, aerospace and defense, industrial equipment, electronics, and life sciences.