PTC Inc. (NASDAQ:PTC) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. cut its holdings in PTC Inc. (NASDAQ:PTC) by 21.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 95,840 shares of the technology company’s stock after selling 26,181 shares during the quarter. Ameriprise Financial Inc. owned about 0.08% of PTC worth $17,622,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of PTC. Aster Capital Management DIFC Ltd bought a new stake in shares of PTC during the 4th quarter worth $30,000. Allworth Financial LP lifted its holdings in shares of PTC by 58.0% during the fourth quarter. Allworth Financial LP now owns 188 shares of the technology company’s stock valued at $35,000 after purchasing an additional 69 shares during the last quarter. Kapitalo Investimentos Ltda acquired a new position in shares of PTC in the 4th quarter valued at $51,000. Assetmark Inc. increased its stake in 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 in the last quarter. Finally, New Age Alpha Advisors LLC purchased a new position in PTC in the 4th quarter worth about $77,000. 95.14% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have commented on PTC. Mizuho reduced their price objective on shares of PTC from $190.00 to $160.00 and set a “neutral” rating for the company in a research note on Tuesday, April 15th. StockNews.com upgraded shares of PTC from a “hold” rating to a “buy” rating in a research report on Monday, May 5th. Citigroup lowered their price objective on shares of PTC from $200.00 to $195.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 5th. Piper Sandler cut their target price on shares of PTC from $202.00 to $180.00 and set a “neutral” rating on the stock in a research note on Thursday, May 1st. Finally, Barclays decreased their target price on PTC from $215.00 to $175.00 and set an “overweight” rating for the company in a research report on Monday, April 14th. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $187.15.

Insider Activity at PTC

In other news, Director Corinna Lathan sold 622 shares of PTC stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $155.53, for a total value of $96,739.66. Following the transaction, the director now directly owns 7,604 shares in the company, valued at approximately $1,182,650.12. The trade was a 7.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Staats Aaron C. Von sold 1,988 shares of the stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $160.00, for a total value of $318,080.00. Following the sale, the executive vice president now owns 17,731 shares of the company’s stock, valued at approximately $2,836,960. The trade was a 10.08% decrease in their position. The disclosure for this sale can be found here. 0.32% of the stock is owned by company insiders.

PTC Trading Up 0.6%

NASDAQ:PTC opened at $172.91 on Friday. The company has a market capitalization of $20.74 billion, a P/E ratio of 53.37, a P/E/G ratio of 2.27 and a beta of 1.19. The stock’s 50 day moving average price is $154.62 and its 200 day moving average price is $174.11. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.69 and a current ratio of 0.69. PTC Inc. has a 52 week low of $133.38 and a 52 week high of $203.09.

PTC (NASDAQ:PTC) last released its quarterly earnings data on Wednesday, April 30th. The technology company reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.37 by $0.42. PTC had a net margin of 16.95% and a return on equity of 14.49%. The business had revenue of $636.37 million during the quarter, compared to analyst estimates of $608.64 million. During the same quarter in the previous year, the business earned $1.46 EPS. PTC’s quarterly revenue was up 5.5% compared to the same quarter last year. On average, research analysts forecast that PTC Inc. will post 4.46 EPS for the current fiscal year.

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.