Choreo LLC Takes Position in PTC Inc. (NASDAQ:PTC)

Choreo LLC acquired a new stake in PTC Inc. (NASDAQ:PTC) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,981 shares of the technology company’s stock, valued at approximately $364,000.

Several other large investors also recently added to or reduced their stakes in the company. State Street Corp boosted its position 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 valued at $917,088,000 after acquiring an additional 133,370 shares during the period. Geode Capital Management LLC raised its position in PTC by 1.3% during the third quarter. Geode Capital Management LLC now owns 2,961,897 shares of the technology company’s stock valued at $533,341,000 after purchasing an additional 37,645 shares in the last quarter. Fernbridge Capital Management LP lifted its position in 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 buying an additional 650,990 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of PTC by 2.9% in the 3rd quarter. Franklin Resources Inc. now owns 1,096,837 shares of the technology company’s stock valued at $203,463,000 after purchasing an additional 30,525 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position in PTC by 19.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 924,456 shares of the technology company’s stock valued at $167,012,000 after buying an additional 150,652 shares during the period. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Insider Activity

In other PTC news, CFO Kristian Talvitie sold 10,306 shares of PTC stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $199.34, for a total value of $2,054,398.04. Following the completion of the transaction, the chief financial officer now directly owns 57,134 shares of the company’s stock, valued at $11,389,091.56. This trade represents a 15.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Staats Aaron C. Von sold 5,373 shares of PTC stock in a transaction on Monday, December 9th. The stock was sold at an average price of $200.13, for a total transaction of $1,075,298.49. Following the completion of the transaction, the executive vice president now directly owns 21,707 shares of the company’s stock, valued at $4,344,221.91. The trade was a 19.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,242 shares of company stock worth $3,630,716 over the last 90 days. 0.32% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts recently commented on PTC shares. Piper Sandler lifted their target price on shares of PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Stifel Nicolaus upped their price objective on shares of PTC from $200.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Citigroup reduced their price target on shares of PTC from $200.00 to $195.00 and set a “neutral” rating on the stock in a research report on Wednesday, February 5th. StockNews.com cut shares of PTC from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, KeyCorp boosted their price target on shares of PTC from $205.00 to $211.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, PTC currently has an average rating of “Moderate Buy” and a consensus price target of $210.09.

PTC Price Performance

Shares of PTC opened at $166.57 on Thursday. The stock has a market cap of $20.05 billion, a PE ratio of 51.41, a price-to-earnings-growth ratio of 2.33 and a beta of 1.19. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.78 and a current ratio of 1.23. PTC Inc. has a fifty-two week low of $163.30 and a fifty-two week high of $203.09. The firm’s 50-day simple moving average is $188.05 and its two-hundred day simple moving average is $183.62.

PTC (NASDAQ:PTC) last announced its quarterly earnings data on Wednesday, February 5th. The technology company reported $0.79 earnings per share for the quarter, missing analysts’ consensus estimates of $0.91 by ($0.12). PTC had a return on equity of 14.49% and a net margin of 16.95%. Analysts anticipate that PTC Inc. will post 4.62 earnings per share for the current fiscal year.

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.