ARK Investment Management LLC Decreases Stock Position in PTC Inc. (NASDAQ:PTC)

ARK Investment Management LLC lowered its position in PTC Inc. (NASDAQ:PTC - Free Report) by 12.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 20,631 shares of the technology company's stock after selling 2,804 shares during the period. ARK Investment Management LLC's holdings in PTC were worth $3,727,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. Janney Montgomery Scott LLC purchased a new stake in shares of PTC during the first quarter valued at $215,000. Nordea Investment Management AB boosted its position in PTC by 3.6% in the 1st quarter. Nordea Investment Management AB now owns 9,240 shares of the technology company's stock valued at $1,748,000 after buying an additional 322 shares during the period. Texas Permanent School Fund Corp grew its stake in PTC by 0.7% in the 1st quarter. Texas Permanent School Fund Corp now owns 24,720 shares of the technology company's stock worth $4,671,000 after acquiring an additional 177 shares in the last quarter. Envestnet Portfolio Solutions Inc. increased its position in shares of PTC by 2.2% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 3,768 shares of the technology company's stock worth $712,000 after acquiring an additional 81 shares during the period. Finally, Empowered Funds LLC bought a new stake in shares of PTC during the first quarter valued at approximately $268,000. Hedge funds and other institutional investors own 95.14% of the company's stock.

Insiders Place Their Bets

In related news, Director Janice Chaffin sold 4,000 shares of the firm's stock in a transaction on Monday, August 12th. The shares were sold at an average price of $171.34, for a total transaction of $685,360.00. Following the sale, the director now owns 44,137 shares in the company, valued at approximately $7,562,433.58. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.17% of the company's stock.

Analysts Set New Price Targets

PTC has been the topic of several research reports. Berenberg Bank lowered PTC from a "buy" rating to a "hold" rating and cut their price target for the company from $210.00 to $196.00 in a research note on Friday, November 1st. Piper Sandler raised their target price on shares of PTC from $182.00 to $202.00 and gave the company a "neutral" rating in a research report on Thursday. Royal Bank of Canada upped their price target on shares of PTC from $202.00 to $230.00 and gave the stock an "outperform" rating in a research report on Thursday. Robert W. Baird increased their price objective on shares of PTC from $226.00 to $228.00 and gave the company an "outperform" rating in a research note on Thursday. Finally, StockNews.com raised shares of PTC from a "hold" rating to a "buy" rating in a research note on Friday. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $204.83.

PTC Stock Performance

Shares of NASDAQ:PTC traded up $2.78 during trading on Friday, hitting $192.83. The stock had a trading volume of 1,598,923 shares, compared to its average volume of 808,537. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.43. PTC Inc. has a 12-month low of $148.01 and a 12-month high of $199.48. The stock has a market capitalization of $23.17 billion, a price-to-earnings ratio of 62.00, a price-to-earnings-growth ratio of 2.91 and a beta of 1.17. The stock has a 50-day simple moving average of $180.03 and a two-hundred day simple moving average of $178.31.

PTC (NASDAQ:PTC - Get Free Report) last released its quarterly earnings data on Wednesday, November 6th. The technology company reported $1.16 earnings per share for the quarter, topping analysts' consensus estimates of $1.05 by $0.11. The firm had revenue of $626.55 million for the quarter, compared to analyst estimates of $620.49 million. PTC had a net margin of 16.37% and a return on equity of 14.99%. On average, equities research analysts expect that PTC Inc. will post 4.47 earnings per share 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.