PTC Inc. (NASDAQ:PTC) Shares Sold by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ decreased its stake in PTC Inc. (NASDAQ:PTC) by 8.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 220,310 shares of the technology company’s stock after selling 21,450 shares during the period. Skandinaviska Enskilda Banken AB publ owned 0.18% of PTC worth $40,017,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Blue Trust Inc. grew its position in PTC by 762.5% in the 2nd quarter. Blue Trust Inc. now owns 138 shares of the technology company’s stock worth $26,000 after purchasing an additional 122 shares during the last quarter. First Horizon Advisors Inc. grew its holdings in PTC by 77.5% in the 2nd quarter. First Horizon Advisors Inc. now owns 142 shares of the technology company’s stock worth $26,000 after buying an additional 62 shares in the last quarter. Rothschild Investment LLC acquired a new stake in PTC in the 2nd quarter valued at approximately $29,000. International Assets Investment Management LLC bought a new stake in PTC during the 2nd quarter valued at $30,000. Finally, OFI Invest Asset Management acquired a new position in PTC during the 2nd quarter worth $31,000. Institutional investors and hedge funds own 95.14% of the company’s stock.

Insider Buying and Selling

In other news, Director Janice Chaffin sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $179.33, for a total transaction of $717,320.00. Following the sale, the director now owns 48,137 shares in the company, valued at $8,632,408.21. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other PTC news, EVP Staats Aaron C. Von sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The stock was sold at an average price of $170.00, for a total transaction of $170,000.00. Following the completion of the sale, the executive vice president now directly owns 13,902 shares in the company, valued at approximately $2,363,340. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Janice Chaffin sold 4,000 shares of the company’s stock in a transaction dated Friday, July 12th. The shares were sold at an average price of $179.33, for a total value of $717,320.00. Following the completion of the transaction, the director now owns 48,137 shares in the company, valued at approximately $8,632,408.21. The disclosure for this sale can be found here. In the last quarter, insiders have sold 14,000 shares of company stock valued at $2,431,330. 1.17% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on PTC shares. StockNews.com lowered PTC from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Piper Sandler raised their target price on shares of PTC from $177.00 to $182.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Mizuho restated a “neutral” rating and set a $190.00 price target (down from $200.00) on shares of PTC in a research report on Tuesday, June 4th. Royal Bank of Canada reiterated an “outperform” rating and issued a $202.00 price objective on shares of PTC in a report on Thursday, August 1st. Finally, Rosenblatt Securities boosted their target price on PTC from $190.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Four investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, PTC presently has an average rating of “Moderate Buy” and an average price target of $200.18.

PTC Trading Up 2.3 %

PTC stock opened at $179.13 on Friday. The firm has a market cap of $21.52 billion, a price-to-earnings ratio of 74.95, a price-to-earnings-growth ratio of 3.19 and a beta of 1.18. PTC Inc. has a 1 year low of $134.61 and a 1 year high of $194.24. The firm’s 50 day moving average price is $174.39 and its two-hundred day moving average price is $178.65. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.70 and a current ratio of 0.70.

PTC (NASDAQ:PTC) last issued its earnings results on Wednesday, July 31st. The technology company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.64 by $0.02. The business had revenue of $518.64 million for the quarter, compared to analysts’ expectations of $533.04 million. PTC had a return on equity of 13.36% and a net margin of 13.32%. On average, research analysts predict that PTC Inc. will post 3.52 EPS for the current fiscal 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.