KBC Group NV Sells 6,361 Shares of PTC Inc. (NASDAQ:PTC)

KBC Group NV cut its holdings in shares of PTC Inc. (NASDAQ:PTC) by 2.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 222,025 shares of the technology company’s stock after selling 6,361 shares during the period. KBC Group NV owned approximately 0.18% of PTC worth $40,824,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. US Bancorp DE boosted its stake in PTC by 67.7% in the 3rd quarter. US Bancorp DE now owns 14,165 shares of the technology company’s stock worth $2,559,000 after purchasing an additional 5,717 shares during the period. Mirabella Financial Services LLP boosted its position in shares of PTC by 542.2% during the third quarter. Mirabella Financial Services LLP now owns 20,686 shares of the technology company’s stock worth $3,640,000 after buying an additional 17,465 shares during the period. D1 Capital Partners L.P. bought a new position in shares of PTC during the third quarter worth about $84,549,000. Citigroup Inc. raised its position in PTC by 28.4% in the 3rd quarter. Citigroup Inc. now owns 149,293 shares of the technology company’s stock valued at $26,971,000 after buying an additional 32,984 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its position in PTC by 33.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 537,989 shares of the technology company’s stock worth $97,193,000 after acquiring an additional 135,677 shares during the last quarter. 95.14% of the stock is owned by institutional investors and hedge funds.

PTC Stock Performance

Shares of PTC stock opened at $188.48 on Tuesday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.38. PTC Inc. has a 52 week low of $163.30 and a 52 week high of $203.09. The firm has a 50 day moving average of $191.12 and a 200-day moving average of $183.18. The company has a market cap of $22.68 billion, a price-to-earnings ratio of 60.60, a price-to-earnings-growth ratio of 2.55 and a beta of 1.18.

Insiders Place Their Bets

In related news, Director Corinna Lathan sold 860 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $200.00, for a total value of $172,000.00. Following the transaction, the director now directly owns 6,843 shares in the company, valued at $1,368,600. This trade represents a 11.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Staats Aaron C. Von sold 5,373 shares of the business’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $200.13, for a total transaction of $1,075,298.49. Following the sale, the executive vice president now owns 21,707 shares of the company’s stock, valued at $4,344,221.91. This trade represents a 19.84 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,242 shares of company stock worth $3,630,716. 0.32% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

PTC has been the subject of several recent research reports. Royal Bank of Canada increased their target price on shares of PTC from $202.00 to $230.00 and gave the stock an “outperform” rating in a report on Thursday, November 7th. Robert W. Baird raised their price objective on PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Rosenblatt Securities reiterated a “buy” rating and set a $195.00 target price on shares of PTC in a report on Thursday, October 10th. StockNews.com upgraded PTC from a “hold” rating to a “buy” rating in a research note on Friday, November 8th. Finally, Berenberg Bank cut PTC from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $210.00 to $196.00 in a research note on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $207.54.

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.