State of Alaska Department of Revenue Decreases Stock Position in PTC Inc. (NASDAQ:PTC)

State of Alaska Department of Revenue decreased its position in shares of PTC Inc. (NASDAQ:PTC) by 22.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 61,594 shares of the technology company’s stock after selling 18,275 shares during the period. State of Alaska Department of Revenue owned about 0.05% of PTC worth $11,324,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp increased its stake in shares of PTC by 2.7% in the third quarter. State Street Corp now owns 5,076,319 shares of the technology company’s stock worth $917,088,000 after buying an additional 133,370 shares during the last quarter. Geode Capital Management LLC increased its position in shares of PTC by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 2,961,897 shares of the technology company’s stock worth $533,341,000 after purchasing an additional 37,645 shares during the last quarter. Fernbridge Capital Management LP increased its position in shares of PTC by 83.7% in the 3rd quarter. Fernbridge Capital Management LP now owns 1,429,005 shares of the technology company’s stock worth $258,164,000 after purchasing an additional 650,990 shares during the last quarter. Franklin Resources Inc. lifted its position in shares of PTC by 2.9% during the third quarter. Franklin Resources Inc. now owns 1,096,837 shares of the technology company’s stock worth $203,463,000 after purchasing an additional 30,525 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in PTC by 19.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 924,456 shares of the technology company’s stock worth $167,012,000 after purchasing an additional 150,652 shares in the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

Analysts Set New Price Targets

PTC has been the topic of several research reports. Piper Sandler upped their price objective on PTC from $182.00 to $202.00 and gave the company a “neutral” rating in a research note on Thursday, November 7th. Stifel Nicolaus upped their price target on PTC from $200.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Robert W. Baird raised their price objective on PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. boosted their target price on shares of PTC from $200.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday, December 2nd. Finally, Royal Bank of Canada raised their price target on shares of PTC from $202.00 to $230.00 and gave the stock an “outperform” rating in a research report on Thursday, November 7th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $210.09.

Insider Activity

In other PTC news, CAO Alice Christenson sold 1,703 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $193.20, for a total value of $329,019.60. Following the sale, the chief accounting officer now directly owns 830 shares in the company, valued at approximately $160,356. The trade was a 67.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Staats Aaron C. Von sold 5,373 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president now owns 21,707 shares of the company’s stock, valued at approximately $4,344,221.91. This trade represents a 19.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,242 shares of company stock worth $3,630,716 over the last three months. Corporate insiders own 0.32% of the company’s stock.

PTC Stock Performance

Shares of PTC stock opened at $171.61 on Friday. The business has a 50 day simple moving average of $190.48 and a 200 day simple moving average of $183.73. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.78 and a quick ratio of 0.78. The firm has a market capitalization of $20.65 billion, a price-to-earnings ratio of 55.18, a price-to-earnings-growth ratio of 2.62 and a beta of 1.19. PTC Inc. has a 12-month low of $163.30 and a 12-month high of $203.09.

PTC (NASDAQ:PTC) last posted its quarterly earnings data on Wednesday, February 5th. The technology company reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.12). PTC had a return on equity of 14.63% and a net margin of 16.37%. On average, equities research analysts anticipate that PTC Inc. will post 4.62 EPS for the current year.

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.