Franklin Resources Inc. Buys 30,525 Shares of PTC Inc. (NASDAQ:PTC)

Franklin Resources Inc. boosted its position in shares of PTC Inc. (NASDAQ:PTC - Free Report) by 2.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,096,837 shares of the technology company's stock after purchasing an additional 30,525 shares during the period. Franklin Resources Inc. owned approximately 0.91% of PTC worth $203,463,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Sequoia Financial Advisors LLC lifted its position in PTC by 23.1% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 1,379 shares of the technology company's stock valued at $251,000 after purchasing an additional 259 shares during the last quarter. Swedbank AB increased its position in shares of PTC by 12.6% in the second quarter. Swedbank AB now owns 58,672 shares of the technology company's stock worth $10,659,000 after acquiring an additional 6,543 shares in the last quarter. Blue Trust Inc. increased its position in shares of PTC by 762.5% in the second quarter. Blue Trust Inc. now owns 138 shares of the technology company's stock worth $26,000 after acquiring an additional 122 shares in the last quarter. OFI Invest Asset Management acquired a new stake in shares of PTC during the second quarter worth approximately $31,000. Finally, First Horizon Advisors Inc. boosted its holdings in shares of PTC by 77.5% during the second quarter. First Horizon Advisors Inc. now owns 142 shares of the technology company's stock worth $26,000 after purchasing an additional 62 shares during the period. 95.14% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at PTC

In other PTC news, CFO Kristian Talvitie sold 10,306 shares of the firm's stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $199.34, for a total value of $2,054,398.04. Following the completion of the transaction, the chief financial officer now owns 57,134 shares in the company, valued at $11,389,091.56. This trade represents a 15.28 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Alice Christenson sold 1,703 shares of the firm's stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $193.20, for a total value of $329,019.60. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders have sold 18,242 shares of company stock valued at $3,630,716 over the last ninety days. 1.17% of the stock is owned by company insiders.

Analyst Ratings Changes

PTC has been the subject of a number of analyst reports. Royal Bank of Canada lifted their target price on shares of PTC from $202.00 to $230.00 and gave the company an "outperform" rating in a research note on Thursday, November 7th. Berenberg Bank cut shares of PTC from a "buy" rating to a "hold" rating and reduced their price objective for the stock from $210.00 to $196.00 in a research note on Friday, November 1st. Piper Sandler boosted their price objective on shares of PTC from $182.00 to $202.00 and gave the stock a "neutral" rating in a research note on Thursday, November 7th. Robert W. Baird boosted their price objective on shares of PTC from $226.00 to $228.00 and gave the stock an "outperform" rating in a research note on Thursday, November 7th. Finally, StockNews.com upgraded shares of PTC from a "hold" rating to a "buy" rating in a research note on Friday, November 8th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $205.67.

PTC Stock Down 1.3 %

NASDAQ PTC traded down $2.62 during trading hours on Friday, reaching $198.68. 593,390 shares of the company's stock were exchanged, compared to its average volume of 799,304. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.78 and a current ratio of 0.78. PTC Inc. has a one year low of $163.30 and a one year high of $203.09. The company's 50-day moving average is $191.05 and its two-hundred day moving average is $181.19. The company has a market capitalization of $23.87 billion, a price-to-earnings ratio of 63.88, a price-to-earnings-growth ratio of 2.74 and a beta of 1.16.

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.