Jennison Associates LLC Sells 43,144 Shares of PTC Inc. (NASDAQ:PTC)

Jennison Associates LLC decreased its position in PTC Inc. (NASDAQ:PTC) by 27.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 115,870 shares of the technology company’s stock after selling 43,144 shares during the period. Jennison Associates LLC’s holdings in PTC were worth $20,933,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Impax Asset Management Group plc grew its position in shares of PTC by 4.4% during the 2nd quarter. Impax Asset Management Group plc now owns 1,141,782 shares of the technology company’s stock worth $206,091,000 after purchasing an additional 48,553 shares in the last quarter. Liontrust Investment Partners LLP lifted its position in shares of PTC by 1.0% during the 2nd quarter. Liontrust Investment Partners LLP now owns 1,003,922 shares of the technology company’s stock valued at $182,383,000 after acquiring an additional 10,338 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in shares of PTC by 4.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 875,282 shares of the technology company’s stock worth $165,377,000 after purchasing an additional 40,462 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. raised its stake in PTC by 4.3% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 783,077 shares of the technology company’s stock valued at $141,471,000 after purchasing an additional 32,343 shares in the last quarter. Finally, Fernbridge Capital Management LP lifted its position in PTC by 6.3% during the second quarter. Fernbridge Capital Management LP now owns 778,015 shares of the technology company’s stock worth $141,342,000 after purchasing an additional 46,286 shares during the period. 95.14% of the stock is currently owned by institutional investors.

PTC Trading Up 2.5 %

PTC opened at $197.64 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.78 and a quick ratio of 0.78. PTC Inc. has a fifty-two week low of $153.11 and a fifty-two week high of $199.48. The company’s 50 day moving average price is $183.85 and its two-hundred day moving average price is $179.15. The firm has a market capitalization of $23.74 billion, a price-to-earnings ratio of 63.55, a PEG ratio of 2.56 and a beta of 1.17.

Insider Buying and Selling

In other news, CAO Alice Christenson sold 1,703 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $193.20, for a total transaction of $329,019.60. Following the completion of the transaction, the chief accounting officer now directly owns 830 shares in the company, valued at $160,356. This trade represents a 67.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.17% of the stock is currently owned by insiders.

Analysts Set New Price Targets

PTC has been the subject of several analyst reports. Rosenblatt Securities restated a “buy” rating and issued a $195.00 target price on shares of PTC in a research report on Thursday, October 10th. Berenberg Bank cut PTC from a “buy” rating to a “hold” rating and cut their target price for the stock from $210.00 to $196.00 in a research note on Friday, November 1st. Royal Bank of Canada boosted their price target on PTC from $202.00 to $230.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Robert W. Baird lifted their target price on PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Finally, Piper Sandler raised their price target on shares of PTC from $182.00 to $202.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Four investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $204.83.

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.