ARK Investment Management LLC Has $2.49 Million Holdings in PTC Inc. (NASDAQ:PTC)

ARK Investment Management LLC trimmed its position in PTC Inc. (NASDAQ:PTC) by 12.0% in the first quarter, Holdings Channel reports. The fund owned 16,059 shares of the technology company’s stock after selling 2,189 shares during the quarter. ARK Investment Management LLC’s holdings in PTC were worth $2,488,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. T. Rowe Price Investment Management Inc. grew its stake in shares of PTC by 11.4% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 17,264,545 shares of the technology company’s stock worth $3,174,432,000 after purchasing an additional 1,773,653 shares during the last quarter. Pictet Asset Management Holding SA grew its position in shares of PTC by 41.6% in the 1st quarter. Pictet Asset Management Holding SA now owns 2,876,333 shares of the technology company’s stock valued at $445,687,000 after buying an additional 844,418 shares during the last quarter. Norges Bank acquired a new stake in shares of PTC in the fourth quarter valued at about $128,852,000. GAMMA Investing LLC raised its position in shares of PTC by 13,184.0% during the first quarter. GAMMA Investing LLC now owns 345,384 shares of the technology company’s stock worth $53,517,000 after acquiring an additional 342,784 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in shares of PTC in the fourth quarter worth approximately $59,506,000. Institutional investors and hedge funds own 95.14% of the company’s stock.

Analyst Ratings Changes

PTC has been the subject of a number of recent analyst reports. Stifel Nicolaus decreased their target price on shares of PTC from $230.00 to $200.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Mizuho decreased their price objective on shares of PTC from $190.00 to $160.00 and set a “neutral” rating for the company in a research report on Tuesday, April 15th. Wall Street Zen lowered shares of PTC from a “buy” rating to a “hold” rating in a report on Tuesday, May 20th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $160.00 price target (down from $210.00) on shares of PTC in a report on Wednesday, April 9th. Finally, KeyCorp reissued an “overweight” rating and issued a $192.00 price objective (up from $185.00) on shares of PTC in a research report on Monday, July 7th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $194.08.

Insider Transactions at PTC

In other PTC news, EVP Staats Aaron C. Von sold 1,988 shares of the business’s stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $160.00, for a total transaction of $318,080.00. Following the completion of the sale, the executive vice president owned 17,731 shares in the company, valued at approximately $2,836,960. The trade was a 10.08% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 0.32% of the company’s stock.

PTC Stock Performance

Shares of PTC opened at $204.51 on Friday. PTC Inc. has a one year low of $133.38 and a one year high of $213.14. The company has a market cap of $24.53 billion, a PE ratio of 56.18, a P/E/G ratio of 2.78 and a beta of 1.17. The stock has a 50-day moving average of $177.60 and a 200-day moving average of $168.96. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.99 and a quick ratio of 0.99.

PTC (NASDAQ:PTC) last announced its quarterly earnings results on Wednesday, April 30th. The technology company reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.37 by $0.42. The business had revenue of $636.37 million for the quarter, compared to analyst estimates of $608.64 million. PTC had a return on equity of 15.35% and a net margin of 18.77%. The company’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.46 earnings per share. On average, equities research analysts predict that PTC Inc. will post 4.46 EPS for the current fiscal year.

PTC Company 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.