Cresset Asset Management LLC Sells 11,693 Shares of PTC Inc. (NASDAQ:PTC)

Cresset Asset Management LLC lessened its holdings in shares of PTC Inc. (NASDAQ:PTC - Free Report) by 90.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,277 shares of the technology company's stock after selling 11,693 shares during the quarter. Cresset Asset Management LLC's holdings in PTC were worth $235,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Aster Capital Management DIFC Ltd bought a new stake in shares of PTC in the 4th quarter worth $30,000. Allworth Financial LP grew its holdings in PTC by 58.0% during the fourth quarter. Allworth Financial LP now owns 188 shares of the technology company's stock worth $35,000 after acquiring an additional 69 shares during the period. Kapitalo Investimentos Ltda bought a new stake in PTC in the fourth quarter worth about $51,000. Assetmark Inc. boosted its position in shares of PTC by 825.0% during the 4th quarter. Assetmark Inc. now owns 333 shares of the technology company's stock valued at $61,000 after purchasing an additional 297 shares in the last quarter. Finally, New Age Alpha Advisors LLC acquired a new position in shares of PTC in the 4th quarter worth approximately $77,000. Institutional investors own 95.14% of the company's stock.

PTC Stock Down 2.4%

Shares of NASDAQ PTC traded down $4.11 during trading hours on Wednesday, hitting $169.13. The stock had a trading volume of 709,924 shares, compared to its average volume of 874,285. The firm's 50-day moving average price is $155.32 and its two-hundred day moving average price is $173.85. PTC Inc. has a 52 week low of $133.38 and a 52 week high of $203.09. The company has a market capitalization of $20.29 billion, a P/E ratio of 52.20, a P/E/G ratio of 2.27 and a beta of 1.19. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.69 and a current ratio of 0.69.

PTC (NASDAQ:PTC - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The technology company reported $1.79 EPS for the quarter, topping the consensus estimate of $1.37 by $0.42. PTC had a net margin of 16.95% and a return on equity of 14.49%. The company had revenue of $636.37 million for the quarter, compared to analyst estimates of $608.64 million. During the same quarter in the prior year, the business posted $1.46 EPS. PTC's quarterly revenue was up 5.5% on a year-over-year basis. Analysts anticipate that PTC Inc. will post 4.46 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts recently commented on the stock. KeyCorp cut their target price on shares of PTC from $211.00 to $185.00 and set an "overweight" rating for the company in a research note on Wednesday, April 16th. Piper Sandler cut their price objective on PTC from $202.00 to $180.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Rosenblatt Securities restated a "buy" rating and issued a $204.00 target price on shares of PTC in a report on Thursday, May 1st. Robert W. Baird upped their target price on PTC from $185.00 to $191.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Finally, Mizuho decreased their price target on PTC from $190.00 to $160.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy 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 price target of $187.15.

Insiders Place Their Bets

In other PTC news, Director Corinna Lathan sold 622 shares of the business's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $155.53, for a total transaction of $96,739.66. Following the completion of the transaction, the director now owns 7,604 shares of the company's stock, valued at $1,182,650.12. The trade was a 7.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Staats Aaron C. Von sold 1,988 shares of the firm's stock in a transaction dated Wednesday, May 7th. The shares were sold at an average price of $160.00, for a total value of $318,080.00. Following the completion of the sale, the executive vice president now directly owns 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 disclosure for this sale can be found here. Insiders own 0.32% of the company's stock.

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.