Sanctuary Advisors LLC Cuts Stake in PTC Inc. (NASDAQ:PTC)

Sanctuary Advisors LLC lowered its position in shares of PTC Inc. (NASDAQ:PTC) by 23.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,253 shares of the technology company’s stock after selling 1,012 shares during the quarter. Sanctuary Advisors LLC’s holdings in PTC were worth $625,000 as of its most recent filing with the SEC.

Other large investors also recently bought and sold shares of the company. Covestor Ltd raised its position in PTC by 70.8% during the 3rd quarter. Covestor Ltd now owns 193 shares of the technology company’s stock worth $35,000 after buying an additional 80 shares during the last quarter. Allworth Financial LP raised its position in PTC by 58.0% during the 4th quarter. Allworth Financial LP now owns 188 shares of the technology company’s stock worth $35,000 after buying an additional 69 shares during the last quarter. Brooklyn Investment Group purchased a new position in PTC during the 3rd quarter worth $66,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in PTC during the 3rd quarter worth $152,000. Finally, Longboard Asset Management LP purchased a new position in PTC during the 4th quarter worth $201,000. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on PTC. StockNews.com cut shares of PTC from a “buy” rating to a “hold” rating in a research note on Saturday. Berenberg Bank cut shares of PTC from a “buy” rating to a “hold” rating and lowered their price target for the stock from $210.00 to $196.00 in a research note on Friday, November 1st. Piper Sandler upped their price target 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. Robert W. Baird upped their price target on shares of PTC from $226.00 to $228.00 and gave the stock an “outperform” rating in a research note on Thursday, November 7th. Finally, JPMorgan Chase & Co. upped their price target on shares of PTC from $200.00 to $210.00 and gave the stock an “overweight” rating in a research note on Monday, December 2nd. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $210.09.

Insiders Place Their Bets

In other news, CFO Kristian Talvitie sold 10,306 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $199.34, for a total transaction of $2,054,398.04. Following the transaction, the chief financial officer now directly owns 57,134 shares in the company, valued at $11,389,091.56. This represents a 15.28 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Staats Aaron C. Von sold 5,373 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 21,707 shares in the company, valued at approximately $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. 0.32% of the stock is owned by corporate insiders.

PTC Price Performance

Shares of NASDAQ PTC opened at $163.63 on Friday. PTC Inc. has a 52 week low of $160.53 and a 52 week high of $203.09. The stock has a market cap of $19.69 billion, a price-to-earnings ratio of 50.50, a PEG ratio of 2.27 and a beta of 1.19. The company’s 50-day moving average price is $179.98 and its 200 day moving average price is $182.89. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.32.

PTC (NASDAQ:PTC) last released its quarterly earnings results on Wednesday, February 5th. The technology company reported $0.79 earnings per share (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%. As a group, research analysts forecast 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.