JPMorgan Chase & Co. Sells 152,130 Shares of PTC Inc. (NASDAQ:PTC)

JPMorgan Chase & Co. lowered its position in shares of PTC Inc. (NASDAQ:PTC - Free Report) by 28.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 385,859 shares of the technology company's stock after selling 152,130 shares during the quarter. JPMorgan Chase & Co. owned 0.32% of PTC worth $70,948,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. raised its stake in PTC by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 14,292,492 shares of the technology company's stock valued at $2,627,961,000 after purchasing an additional 240,080 shares during the period. State Street Corp grew its holdings in PTC by 2.7% during the 3rd quarter. State Street Corp now owns 5,076,319 shares of the technology company's stock valued at $917,088,000 after buying an additional 133,370 shares in the last quarter. Geode Capital Management LLC raised its position in shares of PTC by 1.3% during the third quarter. Geode Capital Management LLC now owns 2,961,897 shares of the technology company's stock valued at $533,341,000 after buying an additional 37,645 shares during the last quarter. Franklin Resources Inc. lifted its holdings in shares of PTC by 2.9% in the third quarter. Franklin Resources Inc. now owns 1,096,837 shares of the technology company's stock worth $203,463,000 after buying an additional 30,525 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of PTC by 4.6% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 821,962 shares of the technology company's stock worth $151,134,000 after acquiring an additional 36,231 shares during the last quarter. 95.14% of the stock is currently owned by institutional investors.

Remove Ads

Insider Buying and Selling

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

PTC Trading Down 6.5 %

Shares of NASDAQ:PTC traded down $9.76 during trading hours on Friday, hitting $139.77. 1,244,232 shares of the company's stock traded hands, compared to its average volume of 861,323. The firm has a market capitalization of $16.82 billion, a P/E ratio of 43.14, a price-to-earnings-growth ratio of 2.27 and a beta of 1.22. The business has a fifty day moving average price of $166.16 and a 200-day moving average price of $180.21. PTC Inc. has a 1 year low of $139.66 and a 1 year high of $203.09. 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 (NASDAQ:PTC - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The technology company reported $0.79 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.91 by ($0.12). PTC had a net margin of 16.95% and a return on equity of 14.49%. Equities analysts expect that PTC Inc. will post 4.46 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have commented on PTC shares. Rosenblatt Securities reiterated a "buy" rating and issued a $204.00 price target on shares of PTC in a research note on Tuesday, February 4th. Citigroup decreased their target price on PTC from $200.00 to $195.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 5th. KeyCorp raised their price target on PTC from $205.00 to $211.00 and gave the company an "overweight" rating in a report on Thursday, February 6th. Stifel Nicolaus increased their target price on PTC from $200.00 to $230.00 and gave the company a "buy" rating in a research report on Wednesday, December 18th. Finally, StockNews.com lowered shares of PTC from a "buy" rating to a "hold" rating in a research report on Monday, March 17th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to data from MarketBeat.com, PTC currently has an average rating of "Moderate Buy" and an average target price of $210.09.

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.