Corebridge Financial Inc. Decreases Stock Position in PTC Inc. (NASDAQ:PTC)

Corebridge Financial Inc. lessened its position in shares of PTC Inc. (NASDAQ:PTC) by 3.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 30,198 shares of the technology company’s stock after selling 930 shares during the period. Corebridge Financial Inc.’s holdings in PTC were worth $5,553,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Bank Pictet & Cie Europe AG grew its position in shares of PTC by 1.4% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 3,925 shares of the technology company’s stock valued at $722,000 after purchasing an additional 55 shares in the last quarter. Wedmont Private Capital increased its position in shares of PTC by 1.6% during the fourth quarter. Wedmont Private Capital now owns 4,026 shares of the technology company’s stock valued at $734,000 after buying an additional 64 shares during the period. Allworth Financial LP lifted its holdings in shares of PTC by 58.0% in the fourth quarter. Allworth Financial LP now owns 188 shares of the technology company’s stock worth $35,000 after buying an additional 69 shares in the last quarter. Otter Creek Advisors LLC boosted its position in shares of PTC by 0.4% in the fourth quarter. Otter Creek Advisors LLC now owns 19,181 shares of the technology company’s stock valued at $3,527,000 after acquiring an additional 80 shares during the period. Finally, Kirtland Hills Capital Management LLC increased its holdings in PTC by 3.2% during the 4th quarter. Kirtland Hills Capital Management LLC now owns 2,948 shares of the technology company’s stock worth $542,000 after acquiring an additional 91 shares during the period. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Insider Buying and Selling

In related news, Director Corinna Lathan sold 622 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $155.53, for a total transaction of $96,739.66. Following the completion of the transaction, the director now owns 7,604 shares in the company, valued at $1,182,650.12. This represents a 7.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.32% of the stock is owned by insiders.

PTC Price Performance

PTC opened at $154.80 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.69 and a quick ratio of 0.69. PTC Inc. has a 1 year low of $151.80 and a 1 year high of $203.09. The stock’s 50 day simple moving average is $169.84 and its 200 day simple moving average is $180.97. The firm has a market cap of $18.63 billion, a price-to-earnings ratio of 47.78, a PEG ratio of 2.27 and a beta of 1.22.

PTC (NASDAQ:PTC) last issued its earnings results on Wednesday, February 5th. The technology company reported $0.79 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.12). PTC had a return on equity of 14.49% and a net margin of 16.95%. As a group, analysts predict that PTC Inc. will post 4.46 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PTC. KeyCorp boosted their price target on shares of PTC from $205.00 to $211.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Rosenblatt Securities restated a “buy” rating and issued a $204.00 target price on shares of PTC in a research note on Tuesday, February 4th. Citigroup dropped their price target on PTC from $200.00 to $195.00 and set a “neutral” rating for the company in a research report on Wednesday, February 5th. StockNews.com downgraded shares of PTC from a “buy” rating to a “hold” rating in a research note on Monday, March 17th. Finally, Stifel Nicolaus boosted their price target on shares of PTC from $200.00 to $230.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Five investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, PTC currently has a consensus rating of “Moderate Buy” and a consensus 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.