PTC Inc. (NASDAQ:PTC) Shares Sold by Baker Avenue Asset Management LP

Baker Avenue Asset Management LP decreased its position in shares of PTC Inc. (NASDAQ:PTC) by 2.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,096 shares of the technology company’s stock after selling 427 shares during the quarter. Baker Avenue Asset Management LP’s holdings in PTC were worth $2,804,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in PTC. Commonwealth Equity Services LLC lifted its position in shares of PTC by 16.8% during the 4th quarter. Commonwealth Equity Services LLC now owns 3,632 shares of the technology company’s stock valued at $668,000 after buying an additional 523 shares in the last quarter. LPL Financial LLC lifted its position in shares of PTC by 14.6% during the 4th quarter. LPL Financial LLC now owns 17,914 shares of the technology company’s stock valued at $3,294,000 after buying an additional 2,285 shares in the last quarter. Blair William & Co. IL lifted its position in shares of PTC by 6.2% during the 4th quarter. Blair William & Co. IL now owns 2,727 shares of the technology company’s stock valued at $501,000 after buying an additional 159 shares in the last quarter. New Age Alpha Advisors LLC purchased a new position in shares of PTC during the 4th quarter valued at approximately $77,000. Finally, Orion Portfolio Solutions LLC lifted its position in shares of PTC by 16.8% during the 4th quarter. Orion Portfolio Solutions LLC now owns 6,603 shares of the technology company’s stock valued at $1,214,000 after buying an additional 952 shares in the last quarter. Institutional investors and hedge funds own 95.14% of the company’s stock.

PTC Stock Down 1.3%

Shares of PTC opened at $212.11 on Friday. PTC Inc. has a 52-week low of $133.38 and a 52-week high of $219.69. The company has a market capitalization of $25.44 billion, a PE ratio of 50.03, a price-to-earnings-growth ratio of 2.92 and a beta of 1.17. The stock has a fifty day simple moving average of $181.28 and a two-hundred day simple moving average of $169.88. The company has a quick ratio of 0.99, a current ratio of 1.17 and a debt-to-equity ratio of 0.35.

PTC (NASDAQ:PTC) last issued its earnings results on Wednesday, July 30th. The technology company reported $1.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.22 by $0.42. PTC had a return on equity of 17.09% and a net margin of 20.74%. The business had revenue of $643.94 million during the quarter, compared to the consensus estimate of $582.12 million. During the same period last year, the company earned $0.98 EPS. The company’s revenue for the quarter was up 24.2% on a year-over-year basis. As a group, equities analysts forecast that PTC Inc. will post 4.46 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Wells Fargo & Company reiterated an “overweight” rating on shares of PTC in a research report on Tuesday. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $160.00 target price (down previously from $210.00) on shares of PTC in a research report on Wednesday, April 9th. BMO Capital Markets raised their price objective on PTC from $187.00 to $231.00 and gave the company an “outperform” rating in a report on Thursday. Stifel Nicolaus raised their price objective on PTC from $200.00 to $220.00 and gave the company a “buy” rating in a report on Thursday. Finally, Cantor Fitzgerald set a $120.00 price objective on PTC and gave the company an “overweight” rating in a report on Tuesday. Six equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $202.14.

Insider Activity

In related news, EVP Staats Aaron C. Von sold 1,988 shares of the firm’s stock in a transaction dated Wednesday, May 7th. The stock was 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 directly owned 17,731 shares of the company’s stock, valued at approximately $2,836,960. This trade represents a 10.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.32% of the company’s stock.

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.