PTC Inc. (NASDAQ:PTC) Shares Sold by Banque Pictet & Cie SA

Banque Pictet & Cie SA decreased its holdings in PTC Inc. (NASDAQ:PTC) by 13.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,200 shares of the technology company’s stock after selling 1,000 shares during the period. Banque Pictet & Cie SA’s holdings in PTC were worth $1,126,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of PTC. Wellington Management Group LLP increased its stake in shares of PTC by 1,409.3% during the fourth quarter. Wellington Management Group LLP now owns 1,680,421 shares of the technology company’s stock worth $294,006,000 after buying an additional 1,569,081 shares during the period. Twin Focus Capital Partners LLC purchased a new stake in shares of PTC in the 4th quarter valued at approximately $177,081,000. Norges Bank acquired a new stake in shares of PTC in the 4th quarter valued at $114,043,000. Balyasny Asset Management L.P. raised its holdings in shares of PTC by 173.8% in the 4th quarter. Balyasny Asset Management L.P. now owns 543,266 shares of the technology company’s stock valued at $95,050,000 after purchasing an additional 344,853 shares in the last quarter. Finally, Matrix Capital Management Company LP purchased a new stake in shares of PTC during the 1st quarter worth $56,076,000. Institutional investors and hedge funds own 95.14% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. StockNews.com lowered PTC from a “buy” rating to a “hold” rating in a report on Monday, August 5th. Citigroup dropped their price objective on PTC from $195.00 to $187.00 and set a “neutral” rating on the stock in a report on Thursday, May 2nd. Piper Sandler boosted their target price on PTC from $177.00 to $182.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Royal Bank of Canada reiterated an “outperform” rating and issued a $202.00 price target on shares of PTC in a research note on Thursday, August 1st. Finally, Mizuho restated a “neutral” rating and set a $190.00 price objective (down previously from $200.00) on shares of PTC in a research report on Tuesday, June 4th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $200.18.

Insider Buying and Selling at PTC

In related news, insider Catherine Kniker sold 1,254 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $173.45, for a total value of $217,506.30. Following the transaction, the insider now owns 13,598 shares in the company, valued at approximately $2,358,573.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other PTC news, Director Janice Chaffin sold 4,000 shares of the business’s stock in a transaction on Friday, July 12th. The shares were sold at an average price of $179.33, for a total value of $717,320.00. Following the transaction, the director now directly owns 48,137 shares of the company’s stock, valued at approximately $8,632,408.21. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Catherine Kniker sold 1,254 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $173.45, for a total transaction of $217,506.30. Following the completion of the sale, the insider now owns 13,598 shares of the company’s stock, valued at approximately $2,358,573.10. The disclosure for this sale can be found here. Over the last three months, insiders have sold 19,254 shares of company stock worth $3,361,636. 1.17% of the stock is owned by company insiders.

PTC Stock Performance

Shares of PTC stock opened at $177.31 on Friday. The stock has a market capitalization of $21.22 billion, a price-to-earnings ratio of 74.19, a PEG ratio of 3.23 and a beta of 1.18. The firm’s fifty day simple moving average is $176.75 and its 200-day simple moving average is $179.66. 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 Inc. has a 12 month low of $134.61 and a 12 month high of $194.24.

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.