PTC Inc. (NASDAQ:PTC) Shares Sold by Truist Financial Corp

Truist Financial Corp reduced its holdings in PTC Inc. (NASDAQ:PTC) by 16.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,792 shares of the technology company’s stock after selling 11,359 shares during the quarter. Truist Financial Corp’s holdings in PTC were worth $10,499,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. NewEdge Advisors LLC lifted its stake in shares of PTC by 1,633.3% in the second quarter. NewEdge Advisors LLC now owns 8,736 shares of the technology company’s stock valued at $1,587,000 after purchasing an additional 8,232 shares during the period. Creative Planning grew its position in PTC by 20.5% during the second quarter. Creative Planning now owns 5,185 shares of the technology company’s stock worth $942,000 after buying an additional 882 shares during the period. Ascent Group LLC grew its position in PTC by 5.8% during the second quarter. Ascent Group LLC now owns 14,409 shares of the technology company’s stock worth $2,618,000 after buying an additional 794 shares during the period. Susquehanna Fundamental Investments LLC acquired a new position in PTC during the second quarter worth about $2,185,000. Finally, MBB Public Markets I LLC acquired a new position in PTC during the second quarter worth about $1,555,000. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Janice Chaffin sold 4,000 shares of the stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $179.33, for a total value of $717,320.00. Following the completion of the sale, the director now owns 48,137 shares in the company, valued at approximately $8,632,408.21. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other PTC news, EVP Staats Aaron C. Von sold 1,000 shares of the business’s stock in a transaction on Tuesday, August 6th. The shares were sold at an average price of $170.00, for a total value of $170,000.00. Following the transaction, the executive vice president now owns 13,902 shares in the company, valued at $2,363,340. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Janice Chaffin sold 4,000 shares of the firm’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 sale, the director now owns 48,137 shares of the company’s stock, valued at $8,632,408.21. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 14,000 shares of company stock valued at $2,431,330. Company insiders own 1.17% of the company’s stock.

PTC Stock Performance

NASDAQ PTC opened at $179.60 on Friday. The business’s 50-day simple moving average is $174.45 and its 200-day simple moving average is $178.12. The firm has a market capitalization of $21.50 billion, a P/E ratio of 75.15, a P/E/G ratio of 3.40 and a beta of 1.17. PTC Inc. has a 1-year low of $134.61 and a 1-year high of $194.24. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.70 and a quick ratio of 0.70.

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

Analyst Ratings Changes

Several research analysts have weighed in on PTC shares. Rosenblatt Securities upped their target price on shares of PTC from $190.00 to $195.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Piper Sandler lifted their price target on PTC from $177.00 to $182.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. StockNews.com cut shares of PTC from a “buy” rating to a “hold” rating in a research note on Monday, August 5th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $202.00 target price on shares of PTC in a research report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, PTC has an average rating of “Moderate Buy” and a consensus price target of $200.18.

About PTC

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.