Ieq Capital LLC Sells 2,931 Shares of PTC Inc. (NASDAQ:PTC)

Ieq Capital LLC cut its holdings in PTC Inc. (NASDAQ:PTC) by 63.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,684 shares of the technology company’s stock after selling 2,931 shares during the quarter. Ieq Capital LLC’s holdings in PTC were worth $310,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PTC. State Street Corp raised its stake in PTC by 2.7% during the 3rd quarter. State Street Corp now owns 5,076,319 shares of the technology company’s stock valued at $917,088,000 after buying an additional 133,370 shares during the last quarter. Geode Capital Management LLC increased its position in PTC by 1.3% during the third quarter. Geode Capital Management LLC now owns 2,961,897 shares of the technology company’s stock valued at $533,341,000 after acquiring an additional 37,645 shares during the last quarter. Fernbridge Capital Management LP lifted its holdings in PTC by 83.7% in the third quarter. Fernbridge Capital Management LP now owns 1,429,005 shares of the technology company’s stock valued at $258,164,000 after acquiring an additional 650,990 shares during the period. Franklin Resources Inc. boosted its position in PTC by 2.9% in the third quarter. Franklin Resources Inc. now owns 1,096,837 shares of the technology company’s stock worth $203,463,000 after purchasing an additional 30,525 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of PTC by 19.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 924,456 shares of the technology company’s stock valued at $167,012,000 after purchasing an additional 150,652 shares during the period. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

PTC Stock Performance

NASDAQ:PTC opened at $162.75 on Friday. The stock has a 50-day moving average price of $180.45 and a 200 day moving average price of $182.94. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.32. PTC Inc. has a 12-month low of $160.53 and a 12-month high of $203.09. The stock has a market capitalization of $19.58 billion, a P/E ratio of 50.23, a P/E/G ratio of 2.27 and a beta of 1.19.

PTC (NASDAQ:PTC) last released its quarterly earnings data on Wednesday, February 5th. The technology company reported $0.79 earnings per share (EPS) 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%. Equities research analysts forecast that PTC Inc. will post 4.46 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Staats Aaron C. Von sold 5,373 shares of the business’s stock in a transaction on 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 in the company, valued at approximately $4,344,221.91. The trade was a 19.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Kristian Talvitie sold 10,306 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $199.34, for a total transaction of $2,054,398.04. Following the transaction, the chief financial officer now owns 57,134 shares of the company’s stock, valued at $11,389,091.56. This trade represents a 15.28 % decrease in their position. The disclosure for this sale can be found here. 0.32% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PTC shares. Piper Sandler increased their price objective on shares of PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Robert W. Baird increased their price target on shares of PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Stifel Nicolaus boosted their price objective on shares of PTC from $200.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Citigroup decreased their target price on PTC from $200.00 to $195.00 and set a “neutral” rating on the stock in a report on Wednesday, February 5th. Finally, Royal Bank of Canada boosted their price target on PTC from $202.00 to $230.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $210.09.

PTC Company 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.