PTC Inc. (NASDAQ:PTC) Shares Sold by Hartford Investment Management Co.

Hartford Investment Management Co. cut its stake in PTC Inc. (NASDAQ:PTC) by 2.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,437 shares of the technology company’s stock after selling 221 shares during the quarter. Hartford Investment Management Co.’s holdings in PTC were worth $1,367,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Covestor Ltd raised its position in PTC by 70.8% in the third quarter. Covestor Ltd now owns 193 shares of the technology company’s stock valued at $35,000 after purchasing an additional 80 shares during the period. Brooklyn Investment Group purchased a new stake in shares of PTC during the third quarter worth about $66,000. Blue Trust Inc. increased its position in shares of PTC by 473.9% during the third quarter. Blue Trust Inc. now owns 792 shares of the technology company’s stock worth $144,000 after acquiring an additional 654 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of PTC during the third quarter worth about $152,000. Finally, Signaturefd LLC increased its position in shares of PTC by 9.3% during the third quarter. Signaturefd LLC now owns 894 shares of the technology company’s stock worth $162,000 after acquiring an additional 76 shares during the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.

PTC Stock Performance

Shares of PTC stock opened at $171.10 on Friday. The company has a quick ratio of 0.78, a current ratio of 1.23 and a debt-to-equity ratio of 0.48. The business has a 50 day moving average of $186.70 and a two-hundred day moving average of $183.39. PTC Inc. has a 52 week low of $163.30 and a 52 week high of $203.09. The company has a market cap of $20.59 billion, a P/E ratio of 52.81, a PEG ratio of 2.33 and a beta of 1.19.

PTC (NASDAQ:PTC) last issued its earnings results on Wednesday, February 5th. The technology company reported $0.79 EPS for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.12). PTC had a net margin of 16.95% and a return on equity of 14.49%. As a group, analysts anticipate that PTC Inc. will post 4.62 EPS for the current year.

Analysts Set New Price Targets

PTC has been the topic of a number of analyst reports. Piper Sandler lifted their target price on PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. KeyCorp lifted their target price on PTC from $205.00 to $211.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. StockNews.com lowered PTC from a “buy” rating to a “hold” rating in a research report on Thursday. Citigroup lowered their price objective on PTC from $200.00 to $195.00 and set a “neutral” rating for the company in a report on Wednesday, February 5th. Finally, Berenberg Bank lowered PTC from a “buy” rating to a “hold” rating and lowered their price objective for the company from $210.00 to $196.00 in a report on Friday, November 1st. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $210.09.

Insider Transactions at PTC

In other news, CAO Alice Christenson sold 1,703 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was 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 in the company, valued at approximately $160,356. The trade was a 67.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Corinna Lathan sold 860 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $200.00, for a total value of $172,000.00. Following the transaction, the director now owns 6,843 shares of the company’s stock, valued at approximately $1,368,600. This represents a 11.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,242 shares of company stock worth $3,630,716. Company insiders own 0.32% of the company’s stock.

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.