Exchange Traded Concepts LLC Trims Holdings in PTC Inc. (NASDAQ:PTC)

Exchange Traded Concepts LLC cut its holdings in shares of PTC Inc. (NASDAQ:PTC - Free Report) by 7.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 82,406 shares of the technology company's stock after selling 6,310 shares during the quarter. Exchange Traded Concepts LLC owned 0.07% of PTC worth $14,887,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PTC. Oregon Public Employees Retirement Fund grew its position in PTC by 0.6% in the second quarter. Oregon Public Employees Retirement Fund now owns 10,267 shares of the technology company's stock valued at $1,865,000 after acquiring an additional 61 shares during the last quarter. Diversified Trust Co boosted its position in PTC by 2.9% in the second quarter. Diversified Trust Co now owns 2,193 shares of the technology company's stock valued at $398,000 after buying an additional 62 shares in the last quarter. First Horizon Advisors Inc. boosted its position in PTC by 77.5% in the second quarter. First Horizon Advisors Inc. now owns 142 shares of the technology company's stock valued at $26,000 after buying an additional 62 shares in the last quarter. Fidelis Capital Partners LLC increased its holdings in shares of PTC by 5.4% during the first quarter. Fidelis Capital Partners LLC now owns 1,454 shares of the technology company's stock worth $275,000 after buying an additional 74 shares in the last quarter. Finally, Bleakley Financial Group LLC lifted its stake in shares of PTC by 4.0% in the 1st quarter. Bleakley Financial Group LLC now owns 2,052 shares of the technology company's stock valued at $388,000 after acquiring an additional 78 shares during the last quarter. 95.14% of the stock is owned by institutional investors and hedge funds.

PTC Stock Up 0.3 %

Shares of NASDAQ: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. PTC Inc. has a 1-year low of $134.61 and a 1-year high of $194.24. The stock has a fifty day moving average of $174.82 and a two-hundred day moving average of $177.77. 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 firm has a market cap of $21.67 billion, a price-to-earnings ratio of 75.73, a price-to-earnings-growth ratio of 2.67 and a beta of 1.17.

PTC (NASDAQ:PTC - Get Free Report) last announced its earnings results on Wednesday, July 31st. The technology company reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.64 by $0.02. The company had revenue of $518.64 million for the quarter, compared to analysts' expectations of $533.04 million. PTC had a return on equity of 13.36% and a net margin of 13.32%. Research analysts anticipate that PTC Inc. will post 3.51 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Piper Sandler increased their target price on PTC from $177.00 to $182.00 and gave the company a "neutral" rating in a research report on Thursday, August 1st. Royal Bank of Canada reissued an "outperform" rating and set a $202.00 target price on shares of PTC in a report on Thursday, August 1st. Rosenblatt Securities reaffirmed a "buy" rating and set a $195.00 price target on shares of PTC in a research note on Thursday. Finally, StockNews.com downgraded PTC from a "buy" rating to a "hold" rating in a report on Monday, August 5th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, PTC currently has a consensus rating of "Moderate Buy" and an average price target of $200.18.

Insider Buying and Selling

In other news, Director Robert Schechter sold 5,000 shares of the business's stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $171.73, for a total value of $858,650.00. Following the sale, the director now owns 59,616 shares of the company's stock, valued at $10,237,855.68. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other PTC news, Director Janice Chaffin sold 4,000 shares of the business's stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $171.34, for a total value of $685,360.00. Following the completion of the transaction, the director now owns 44,137 shares of the company's stock, valued at $7,562,433.58. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Robert Schechter sold 5,000 shares of PTC stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $171.73, for a total transaction of $858,650.00. Following the sale, the director now directly owns 59,616 shares of the company's stock, valued at $10,237,855.68. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,000 shares of company stock worth $1,714,010. Insiders own 1.17% of the company's stock.

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.