PTC Inc. $PTC Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans cut its holdings in PTC Inc. (NASDAQ:PTC) by 35.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 87,700 shares of the technology company’s stock after selling 47,146 shares during the quarter. Thrivent Financial for Lutherans’ holdings in PTC were worth $15,114,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the business. T. Rowe Price Investment Management Inc. grew its stake in shares of PTC by 17.7% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 20,312,856 shares of the technology company’s stock worth $3,147,478,000 after purchasing an additional 3,048,311 shares during the last quarter. Norges Bank bought a new stake in PTC during the second quarter worth approximately $155,673,000. CCLA Investment Management acquired a new position in PTC in the second quarter worth approximately $94,629,000. Vanguard Group Inc. increased its holdings in shares of PTC by 2.9% in the second quarter. Vanguard Group Inc. now owns 14,748,971 shares of the technology company’s stock valued at $2,541,838,000 after buying an additional 416,791 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its position in shares of PTC by 31.4% during the 2nd quarter. Lazard Asset Management LLC now owns 1,547,622 shares of the technology company’s stock valued at $266,715,000 after acquiring an additional 370,097 shares during the last quarter. Institutional investors own 95.14% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on PTC shares. Rosenblatt Securities decreased their target price on PTC from $227.00 to $220.00 and set a “buy” rating on the stock in a report on Thursday, November 6th. BMO Capital Markets cut their price objective on PTC from $231.00 to $219.00 and set an “outperform” rating on the stock in a report on Thursday, November 6th. Robert W. Baird set a $255.00 price objective on shares of PTC in a research note on Wednesday, October 22nd. Zacks Research cut shares of PTC from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. Finally, Piper Sandler cut their price target on shares of PTC from $200.00 to $175.00 and set a “neutral” rating on the stock in a report on Friday, November 7th. Twelve analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $205.92.

Insiders Place Their Bets

In other PTC news, EVP Staats Aaron C. Von sold 6,328 shares of the business’s stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $174.79, for a total value of $1,106,071.12. Following the transaction, the executive vice president owned 22,461 shares in the company, valued at $3,925,958.19. The trade was a 21.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Kristian Talvitie sold 50,291 shares of the company’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $173.14, for a total value of $8,707,383.74. Following the completion of the transaction, the executive vice president directly owned 12,386 shares in the company, valued at approximately $2,144,512.04. The trade was a 80.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 61,277 shares of company stock worth $10,624,076 over the last ninety days. 0.32% of the stock is currently owned by company insiders.

PTC Price Performance

Shares of PTC opened at $174.28 on Wednesday. The business’s 50-day moving average is $185.77 and its 200-day moving average is $192.19. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.12 and a quick ratio of 1.43. The company has a market capitalization of $20.82 billion, a price-to-earnings ratio of 28.38, a P/E/G ratio of 1.99 and a beta of 1.03. PTC Inc. has a fifty-two week low of $133.38 and a fifty-two week high of $219.69.

PTC (NASDAQ:PTC) last posted its quarterly earnings results on Friday, November 21st. The technology company reported $2.10 EPS for the quarter. The business had revenue of $1.76 billion during the quarter. PTC had a net margin of 27.05% and a return on equity of 23.03%. Equities research analysts expect that PTC Inc. will post 4.46 EPS 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.