Michael Ditullio Sells 3,000 Shares of PTC Inc. (NASDAQ:PTC) Stock

PTC Inc. (NASDAQ:PTC) COO Michael Ditullio sold 3,000 shares of the business’s stock in a transaction on Friday, September 15th. The stock was sold at an average price of $140.71, for a total value of $422,130.00. Following the completion of the transaction, the chief operating officer now directly owns 57,764 shares of the company’s stock, valued at $8,127,972.44. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

PTC Stock Performance

NASDAQ:PTC traded up $1.82 during trading hours on Monday, reaching $143.27. The company had a trading volume of 1,083,601 shares, compared to its average volume of 764,747. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.68 and a quick ratio of 0.68. The business’s 50 day moving average price is $143.92 and its 200-day moving average price is $135.15. PTC Inc. has a 1-year low of $101.82 and a 1-year high of $152.09. The firm has a market cap of $17.03 billion, a PE ratio of 55.75, a price-to-earnings-growth ratio of 3.74 and a beta of 1.18.

PTC (NASDAQ:PTC) last issued its quarterly earnings results on Wednesday, July 26th. The technology company reported $0.64 EPS for the quarter, missing the consensus estimate of $0.68 by ($0.04). The company had revenue of $542.34 million during the quarter, compared to analysts’ expectations of $530.35 million. PTC had a return on equity of 15.41% and a net margin of 14.90%. Research analysts forecast that PTC Inc. will post 2.94 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of PTC. BlackRock Inc. grew its stake in PTC by 13.3% during the 2nd quarter. BlackRock Inc. now owns 10,145,455 shares of the technology company’s stock valued at $1,443,698,000 after acquiring an additional 1,189,025 shares in the last quarter. Kinetic Partners Management LP purchased a new stake in PTC in the 2nd quarter valued at $72,236,000. Pictet Asset Management SA raised its holdings in shares of PTC by 10.7% during the 1st quarter. Pictet Asset Management SA now owns 4,892,360 shares of the technology company’s stock worth $627,347,000 after acquiring an additional 471,437 shares during the period. Perpetual Ltd boosted its position in shares of PTC by 362.6% during the 2nd quarter. Perpetual Ltd now owns 589,268 shares of the technology company’s stock valued at $83,853,000 after acquiring an additional 461,877 shares during the last quarter. Finally, Norges Bank purchased a new stake in shares of PTC in the fourth quarter valued at about $48,590,000. 92.23% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have commented on PTC. Royal Bank of Canada boosted their target price on shares of PTC from $158.00 to $165.00 and gave the stock an “outperform” rating in a report on Monday, July 24th. BMO Capital Markets started coverage on shares of PTC in a research note on Wednesday, May 24th. They issued an “outperform” rating and a $166.00 target price for the company. Piper Sandler reaffirmed a “neutral” rating and set a $150.00 price target on shares of PTC in a research report on Thursday, July 27th. Rosenblatt Securities raised their price objective on PTC from $148.00 to $159.00 in a research report on Thursday, July 27th. Finally, Mizuho upped their target price on PTC from $170.00 to $180.00 in a research report on Friday, July 28th. Four research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, PTC presently has a consensus rating of “Moderate Buy” and an average target price of $160.92.

PTC Company Profile

PTC Inc operates as software company in the Americas, Europe, and the Asia Pacific. The company operates in two segments, Software Products and Professional Services. It offers ThingWorx platform, which offers end-to-end capabilities to enable digital transformation; and Vuforia, which enables the creation of AR.