Van ECK Associates Corp Has $255,000 Stock Holdings in PTC Inc. (NASDAQ:PTC)

Van ECK Associates Corp cut its stake in shares of PTC Inc. (NASDAQ:PTC) by 35.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,388 shares of the technology company’s stock after selling 764 shares during the period. Van ECK Associates Corp’s holdings in PTC were worth $255,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. US Bancorp DE raised its stake in PTC by 67.7% in the third quarter. US Bancorp DE now owns 14,165 shares of the technology company’s stock valued at $2,559,000 after buying an additional 5,717 shares during the period. Mirabella Financial Services LLP raised its stake in PTC by 542.2% in the third quarter. Mirabella Financial Services LLP now owns 20,686 shares of the technology company’s stock valued at $3,640,000 after buying an additional 17,465 shares during the period. D1 Capital Partners L.P. bought a new stake in PTC in the third quarter valued at approximately $84,549,000. Citigroup Inc. raised its stake in PTC by 28.4% in the third quarter. Citigroup Inc. now owns 149,293 shares of the technology company’s stock valued at $26,971,000 after buying an additional 32,984 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in PTC by 33.7% in the third quarter. JPMorgan Chase & Co. now owns 537,989 shares of the technology company’s stock valued at $97,193,000 after buying an additional 135,677 shares during the period. 95.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on PTC shares. JPMorgan Chase & Co. increased their target price on PTC from $200.00 to $210.00 and gave the stock an “overweight” rating in a research note on Monday, December 2nd. Piper Sandler increased their target price on PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a research note on Thursday, November 7th. Robert W. Baird increased their target price on PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Citigroup lowered their target price on PTC from $200.00 to $195.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 5th. Finally, Royal Bank of Canada increased their target price on PTC from $202.00 to $230.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Four equities 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, the company has an average rating of “Moderate Buy” and an average target price of $210.09.

Insider Transactions at PTC

In other news, EVP Staats Aaron C. Von sold 5,373 shares of the company’s stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $200.13, for a total value 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. This represents a 19.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Kristian Talvitie sold 10,306 shares of the 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 transaction, the chief financial officer now directly owns 57,134 shares of the company’s stock, valued at approximately $11,389,091.56. This trade represents a 15.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.

PTC Stock Down 2.5 %

PTC stock opened at $161.65 on Monday. The stock’s 50 day simple moving average is $182.89 and its 200 day simple moving average is $183.23. PTC Inc. has a fifty-two week low of $161.02 and a fifty-two week high of $203.09. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.69 and a current ratio of 0.69. The company has a market cap of $19.45 billion, a P/E ratio of 49.89, a price-to-earnings-growth ratio of 2.27 and a beta of 1.19.

PTC (NASDAQ:PTC) last issued its quarterly earnings data on Wednesday, February 5th. The technology company reported $0.79 EPS for the quarter, missing the consensus estimate of $0.91 by ($0.12). PTC had a return on equity of 14.49% and a net margin of 16.95%. On average, research analysts expect that PTC Inc. will post 4.46 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.