Geode Capital Management LLC Buys 37,645 Shares of PTC Inc. (NASDAQ:PTC)

Geode Capital Management LLC raised its holdings in shares of PTC Inc. (NASDAQ:PTC - Free Report) by 1.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,961,897 shares of the technology company's stock after buying an additional 37,645 shares during the quarter. Geode Capital Management LLC owned about 2.47% of PTC worth $533,341,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. Blue Trust Inc. grew its position in 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. First Horizon Advisors Inc. boosted its holdings in shares of PTC by 77.5% in the 2nd quarter. First Horizon Advisors Inc. now owns 142 shares of the technology company's stock worth $26,000 after purchasing an additional 62 shares in the last quarter. Rothschild Investment LLC bought a new position in shares of PTC during the 2nd quarter valued at about $29,000. International Assets Investment Management LLC purchased a new position in shares of PTC during the 2nd quarter valued at about $30,000. Finally, OFI Invest Asset Management bought a new stake in PTC in the 2nd quarter worth approximately $31,000. 95.14% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PTC has been the topic of a number of recent research reports. Robert W. Baird increased their price target on shares of PTC from $226.00 to $228.00 and gave the company an "outperform" rating in a research report on Thursday, November 7th. StockNews.com raised shares of PTC from a "hold" rating to a "buy" rating in a report on Friday, November 8th. Rosenblatt Securities reiterated a "buy" rating and issued a $195.00 target price on shares of PTC in a research report on Thursday, October 10th. JPMorgan Chase & Co. upped their price target on shares of PTC from $200.00 to $210.00 and gave the company an "overweight" rating in a research report on Monday, December 2nd. Finally, Royal Bank of Canada lifted their price objective on PTC from $202.00 to $230.00 and gave the stock an "outperform" rating in a report on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, PTC currently has an average rating of "Moderate Buy" and a consensus target price of $205.67.

PTC Trading Down 1.3 %

Shares of PTC traded down $2.62 during mid-day trading on Friday, hitting $198.68. 593,390 shares of the company's stock traded hands, compared to its average volume of 799,304. 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 firm has a market capitalization of $23.87 billion, a P/E ratio of 63.74, a PEG ratio of 2.74 and a beta of 1.16. The business's 50-day moving average price is $190.66 and its 200-day moving average price is $181.07. PTC Inc. has a 1 year low of $163.30 and a 1 year high of $203.09.

Insider Buying and Selling at PTC

In other PTC news, CAO Alice Christenson sold 1,703 shares of PTC 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 sale, the chief accounting officer now directly owns 830 shares of the company's stock, valued at approximately $160,356. The trade was a 67.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Staats Aaron C. Von sold 5,373 shares of the company's stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $200.13, for a total value of $1,075,298.49. Following the transaction, the executive vice president now owns 21,707 shares in the company, valued at $4,344,221.91. This trade represents a 19.84 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,242 shares of company stock valued at $3,630,716. 1.17% of the stock is currently owned by company insiders.

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.