PTC Inc. (NASDAQ:PTC) Shares Bought by Principal Financial Group Inc.

Principal Financial Group Inc. raised its position in PTC Inc. (NASDAQ:PTC - Free Report) by 3.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 149,071 shares of the technology company's stock after purchasing an additional 5,403 shares during the quarter. Principal Financial Group Inc. owned 0.12% of PTC worth $26,931,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund boosted its stake in shares of PTC by 0.6% during 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 purchasing an additional 61 shares during the period. IFM Investors Pty Ltd grew its stake in PTC by 0.3% in the 3rd quarter. IFM Investors Pty Ltd now owns 25,963 shares of the technology company's stock worth $4,690,000 after acquiring an additional 66 shares in the last quarter. Metis Global Partners LLC increased its position in shares of PTC by 1.1% during the third quarter. Metis Global Partners LLC now owns 6,655 shares of the technology company's stock worth $1,202,000 after acquiring an additional 73 shares during the period. Signaturefd LLC raised its stake in shares of PTC by 9.3% during the third quarter. Signaturefd LLC now owns 894 shares of the technology company's stock valued at $162,000 after acquiring an additional 76 shares in the last quarter. Finally, Equitable Trust Co. boosted its holdings in shares of PTC by 2.2% in the third quarter. Equitable Trust Co. now owns 3,602 shares of the technology company's stock valued at $651,000 after purchasing an additional 79 shares during the period. Institutional investors own 95.14% of the company's stock.

PTC Stock Performance

Shares of NASDAQ:PTC traded up $1.85 during trading on Wednesday, hitting $187.10. 312,406 shares of the stock traded hands, compared to its average volume of 803,758. 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 company has a fifty day moving average price of $192.35 and a two-hundred day moving average price of $182.03. PTC Inc. has a 52-week low of $163.30 and a 52-week high of $203.09. The company has a market cap of $22.48 billion, a price-to-earnings ratio of 60.16, a P/E/G ratio of 2.70 and a beta of 1.16.

Analyst Ratings Changes

PTC has been the subject of several recent research reports. Berenberg Bank lowered shares of PTC from a "buy" rating to a "hold" rating and reduced their price target for the company from $210.00 to $196.00 in a report on Friday, November 1st. StockNews.com raised shares of PTC from a "hold" rating to a "buy" rating in a research note on Friday, November 8th. Stifel Nicolaus lifted their price target on PTC from $200.00 to $230.00 and gave the company a "buy" rating in a report on Wednesday, December 18th. Piper Sandler boosted their price target on PTC from $182.00 to $202.00 and gave the stock a "neutral" rating in a research report on Thursday, November 7th. Finally, Royal Bank of Canada raised their price objective on PTC from $202.00 to $230.00 and gave the company an "outperform" rating in a research report on Thursday, November 7th. Four research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $207.54.

Insider Buying and Selling

In other news, EVP Staats Aaron C. Von sold 5,373 shares of the firm'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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Corinna Lathan sold 860 shares of the company's stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $200.00, for a total transaction of $172,000.00. Following the completion of the sale, the director now directly owns 6,843 shares of the company's stock, valued at $1,368,600. This represents a 11.16 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,242 shares of company stock valued at $3,630,716. 1.17% of the stock is owned by company insiders.

About PTC

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.