PTC Inc. (NASDAQ:PTC) Shares Sold by Covea Finance

Covea Finance reduced its stake in shares of PTC Inc. (NASDAQ:PTC - Free Report) by 20.7% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 15,300 shares of the technology company's stock after selling 4,000 shares during the period. Covea Finance's holdings in PTC were worth $2,764,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PTC. Wellington Management Group LLP boosted its stake in shares of PTC by 1,409.3% during the 4th quarter. Wellington Management Group LLP now owns 1,680,421 shares of the technology company's stock worth $294,006,000 after acquiring an additional 1,569,081 shares in the last quarter. Twin Focus Capital Partners LLC acquired a new position in shares of PTC during the 4th quarter valued at about $177,081,000. Massachusetts Financial Services Co. MA grew its holdings in shares of PTC by 66.9% in the second quarter. Massachusetts Financial Services Co. MA now owns 773,804 shares of the technology company's stock valued at $140,577,000 after purchasing an additional 310,092 shares during the period. Matrix Capital Management Company LP acquired a new stake in PTC during the first quarter worth about $56,076,000. Finally, Vanguard Group Inc. raised its stake in PTC by 1.5% during the first quarter. Vanguard Group Inc. now owns 13,740,919 shares of the technology company's stock worth $2,596,209,000 after purchasing an additional 205,673 shares during the period. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PTC has been the subject of a number of recent analyst reports. Royal Bank of Canada restated an "outperform" rating and set a $202.00 price target on shares of PTC in a report on Thursday, August 1st. StockNews.com lowered PTC from a "buy" rating to a "hold" rating in a research note on Monday, August 5th. Rosenblatt Securities reissued a "buy" rating and set a $195.00 price objective on shares of PTC in a research report on Thursday. Finally, Piper Sandler upped their target price on shares of PTC from $177.00 to $182.00 and gave the company a "neutral" rating in a research report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, PTC presently has an average rating of "Moderate Buy" and a consensus price target of $200.18.

Insider Buying and Selling at PTC

In related news, Director Janice Chaffin sold 4,000 shares of PTC stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $171.34, for a total transaction of $685,360.00. Following the completion of the transaction, the director now directly owns 44,137 shares in the company, valued at $7,562,433.58. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Janice Chaffin sold 4,000 shares of the stock in a transaction on Monday, August 12th. The stock was 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 of the company's stock, valued at $7,562,433.58. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert Schechter sold 5,000 shares of the business's stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $171.73, for a total transaction of $858,650.00. Following the completion of the transaction, the director now directly owns 59,616 shares of the company's stock, valued at $10,237,855.68. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,000 shares of company stock valued at $1,714,010 over the last quarter. Corporate insiders own 1.17% of the company's stock.

PTC Price Performance

PTC traded up $0.61 during trading on Friday, reaching $181.00. 555,848 shares of the stock were exchanged, compared to its average volume of 808,888. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.70 and a quick ratio of 0.70. The company has a market capitalization of $21.67 billion, a price-to-earnings ratio of 75.73, a P/E/G ratio of 2.67 and a beta of 1.17. PTC Inc. has a 1 year low of $134.61 and a 1 year high of $194.24. The business's 50 day moving average price is $174.82 and its two-hundred day moving average price is $177.85.

PTC (NASDAQ:PTC - Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The technology company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.64 by $0.02. The business had revenue of $518.64 million during the quarter, compared to the consensus estimate of $533.04 million. PTC had a return on equity of 13.36% and a net margin of 13.32%. As a group, equities research analysts anticipate that PTC Inc. will post 3.51 earnings per share for the current 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.