Robeco Institutional Asset Management B.V. Sells 12,717 Shares of PTC Inc. (NASDAQ:PTC)

Robeco Institutional Asset Management B.V. decreased its stake in shares of PTC Inc. (NASDAQ:PTC) by 7.6% during the fourth quarter, Holdings Channel reports. The firm owned 154,047 shares of the technology company’s stock after selling 12,717 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in PTC were worth $28,325,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. US Bancorp DE raised its stake in PTC by 67.7% during the 3rd 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 last quarter. Mirabella Financial Services LLP grew its holdings in shares of PTC by 542.2% in the third quarter. Mirabella Financial Services LLP now owns 20,686 shares of the technology company’s stock worth $3,640,000 after acquiring an additional 17,465 shares during the period. D1 Capital Partners L.P. purchased a new stake in PTC during the third quarter valued at $84,549,000. Citigroup Inc. lifted its holdings 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 acquiring an additional 32,984 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in PTC by 33.7% in the third quarter. JPMorgan Chase & Co. now owns 537,989 shares of the technology company’s stock worth $97,193,000 after purchasing an additional 135,677 shares during the last quarter. Hedge funds and other institutional investors own 95.14% of the company’s stock.

Insiders Place Their Bets

In other PTC news, CAO Alice Christenson sold 1,703 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $193.20, for a total transaction of $329,019.60. Following the completion of the transaction, the chief accounting officer now owns 830 shares in the company, valued at $160,356. This trade represents a 67.23 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Staats Aaron C. Von sold 5,373 shares of PTC 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 sale, the executive vice president now directly owns 21,707 shares in the company, valued at approximately $4,344,221.91. The trade was a 19.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,242 shares of company stock worth $3,630,716 in the last three months. 0.32% of the stock is owned by company insiders.

PTC Stock Performance

NASDAQ PTC opened at $192.01 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.78 and a debt-to-equity ratio of 0.38. PTC Inc. has a twelve month low of $163.30 and a twelve month high of $203.09. The business has a 50-day moving average price of $191.15 and a 200-day moving average price of $183.34. The firm has a market cap of $23.11 billion, a price-to-earnings ratio of 61.74, a price-to-earnings-growth ratio of 2.55 and a beta of 1.18.

Analysts Set New Price Targets

Several research firms have recently commented on PTC. Royal Bank of Canada upped their price target on shares of PTC from $202.00 to $230.00 and gave the company an “outperform” rating in a research report on Thursday, November 7th. Berenberg Bank cut shares of PTC from a “buy” rating to a “hold” rating and reduced their target price for the company from $210.00 to $196.00 in a report on Friday, November 1st. Piper Sandler increased their price target on shares of PTC from $182.00 to $202.00 and gave the stock a “neutral” rating in a research report on Thursday, November 7th. Rosenblatt Securities reissued a “buy” rating and set a $195.00 price objective on shares of PTC in a research report on Thursday, October 10th. Finally, JPMorgan Chase & Co. raised their target price on PTC from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Monday, December 2nd. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $207.54.

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.