Fmr LLC Sells 1,984,621 Shares of PTC Inc. (NASDAQ:PTC)

FMR LLC lessened its holdings in shares of PTC Inc. (NASDAQ:PTC - Free Report) by 68.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 935,038 shares of the technology company's stock after selling 1,984,621 shares during the quarter. FMR LLC owned 0.78% of PTC worth $168,924,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of PTC. GAMMA Investing LLC lifted its holdings in PTC by 53.7% during the 2nd quarter. GAMMA Investing LLC now owns 1,620 shares of the technology company's stock worth $294,000 after buying an additional 566 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its holdings in PTC by 98.9% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 354 shares of the technology company's stock worth $64,000 after buying an additional 176 shares during the last quarter. Mather Group LLC. lifted its holdings in PTC by 14.8% during the 2nd quarter. Mather Group LLC. now owns 713 shares of the technology company's stock worth $135,000 after buying an additional 92 shares during the last quarter. CWM LLC lifted its holdings in PTC by 112.0% during the 2nd quarter. CWM LLC now owns 7,189 shares of the technology company's stock worth $1,306,000 after buying an additional 3,798 shares during the last quarter. Finally, Contravisory Investment Management Inc. lifted its holdings in shares of PTC by 4.3% in the 2nd quarter. Contravisory Investment Management Inc. now owns 4,918 shares of the technology company's stock worth $893,000 after purchasing an additional 204 shares during the last quarter. Institutional investors and hedge funds own 95.14% of the company's stock.

PTC Stock Up 0.3 %

Shares of PTC stock traded up $0.53 during midday trading on Tuesday, hitting $199.91. The company's stock had a trading volume of 119,000 shares, compared to its average volume of 803,964. The firm has a market capitalization of $24.02 billion, a P/E ratio of 64.11, a PEG ratio of 2.71 and a beta of 1.16. PTC Inc. has a 1-year low of $157.72 and a 1-year high of $201.66. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.38. The stock has a 50-day simple moving average of $187.15 and a 200-day simple moving average of $180.07.

Wall Street Analyst Weigh In

PTC has been the topic of several recent research reports. JPMorgan Chase & Co. raised their price target on PTC from $200.00 to $210.00 and gave the stock an "overweight" rating in a report on Monday. Piper Sandler raised their price target on PTC from $182.00 to $202.00 and gave the stock a "neutral" rating in a report on Thursday, November 7th. Berenberg Bank cut PTC from a "buy" rating to a "hold" rating and lowered their target price for the company from $210.00 to $196.00 in a research report on Friday, November 1st. Royal Bank of Canada raised their target price on PTC from $202.00 to $230.00 and gave the company an "outperform" rating in a research report on Thursday, November 7th. Finally, StockNews.com upgraded PTC from a "hold" rating to a "buy" rating in a research report on Friday, November 8th. Four investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $205.67.

Insider Activity at PTC

In other PTC news, Director Corinna Lathan sold 860 shares of the business's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $200.00, for a total value of $172,000.00. Following the completion of the sale, the director now owns 6,843 shares of the company's stock, valued at $1,368,600. The trade was a 11.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Alice Christenson sold 1,703 shares of PTC stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $193.20, for a total value of $329,019.60. Following the completion of the transaction, the chief accounting officer now owns 830 shares in the company, valued at $160,356. The trade was a 67.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.17% of the company's stock.

About PTC

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.