PTC Inc. (NASDAQ:PTC) Shares Sold by ARK Investment Management LLC

Key Points

• ARK Investment Management LLC reduced its stake in PTC Inc. by 12.0%, now holding 16,059 shares valued at approximately $2.49 million.
• Wall Street analysts hold a consensus rating of "Moderate Buy" for PTC, with an average price target set at $194.08.
• PTC reported a quarterly EPS of $1.79, beating estimates and showing a year-over-year revenue increase of 5.5%.

ARK Investment Management LLC trimmed its holdings in shares of PTC Inc. (NASDAQ:PTC - Free Report) by 12.0% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor 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 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in PTC. T. Rowe Price Investment Management Inc. raised its stake in PTC by 11.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 17,264,545 shares of the technology company's stock valued at $3,174,432,000 after acquiring an additional 1,773,653 shares during the period. Geode Capital Management LLC grew its stake in PTC by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 3,029,401 shares of the technology company's stock worth $555,626,000 after purchasing an additional 67,504 shares during the period. Pictet Asset Management Holding SA boosted its stake in 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 worth $445,687,000 after purchasing an additional 844,418 shares in the last quarter. Fernbridge Capital Management LP boosted its position in shares of PTC by 6.0% during the fourth quarter. Fernbridge Capital Management LP now owns 1,514,569 shares of the technology company's stock valued at $278,484,000 after buying an additional 85,564 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of PTC by 11.0% in the 4th quarter. Northern Trust Corp now owns 1,313,273 shares of the technology company's stock worth $241,472,000 after purchasing an additional 129,910 shares during the period. 95.14% of the stock is owned by institutional investors.

PTC Stock Down 0.4%

NASDAQ PTC traded down $0.84 on Wednesday, reaching $203.35. The company had a trading volume of 391,186 shares, compared to its average volume of 1,069,560. The company's fifty day moving average is $178.85 and its 200-day moving average is $169.25. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.99 and a current ratio of 0.99. PTC Inc. has a 1-year low of $133.38 and a 1-year high of $213.14. The firm has a market capitalization of $24.39 billion, a price-to-earnings ratio of 55.86, a price-to-earnings-growth ratio of 2.78 and a beta of 1.17.

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

Insider Buying and Selling at PTC

In related news, EVP Staats Aaron C. Von sold 1,988 shares of the company'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 transaction, the executive vice president owned 17,731 shares in the company, valued at approximately $2,836,960. This represents a 10.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.32% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on PTC shares. Stifel Nicolaus decreased their price objective on PTC from $230.00 to $200.00 and set a "buy" rating for the company in a research note on Thursday, May 1st. Wells Fargo & Company restated an "overweight" rating on shares of PTC in a research report on Tuesday. Robert W. Baird lifted their price target on PTC from $185.00 to $191.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Barclays reissued an "equal weight" rating on shares of PTC in a research note on Tuesday. Finally, JPMorgan Chase & Co. restated a "neutral" rating and set a $160.00 price target (down previously from $210.00) on shares of PTC in a report on Wednesday, April 9th. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $188.79.

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.