PTC Inc. (NASDAQ:PTC) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. trimmed its holdings in PTC Inc. (NASDAQ:PTC - Free Report) by 66.4% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,514 shares of the technology company's stock after selling 2,990 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in PTC were worth $235,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Aster Capital Management DIFC Ltd acquired a new position in PTC in the 4th quarter valued at about $30,000. UMB Bank n.a. grew its position in shares of PTC by 153.4% during the first quarter. UMB Bank n.a. now owns 294 shares of the technology company's stock worth $46,000 after buying an additional 178 shares in the last quarter. Pinney & Scofield Inc. acquired a new stake in shares of PTC in the 4th quarter valued at $47,000. Kapitalo Investimentos Ltda acquired a new position in shares of PTC during the fourth quarter worth $51,000. Finally, MassMutual Private Wealth & Trust FSB increased its holdings in shares of PTC by 42.1% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 385 shares of the technology company's stock valued at $60,000 after acquiring an additional 114 shares during the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Piper Sandler reduced their price objective on shares of PTC from $202.00 to $180.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Mizuho reduced their price target on PTC from $190.00 to $160.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. JPMorgan Chase & Co. restated a "neutral" rating and issued a $160.00 price target (down from $210.00) on shares of PTC in a research note on Wednesday, April 9th. Rosenblatt Securities reaffirmed a "buy" rating and set a $204.00 price objective on shares of PTC in a report on Thursday, May 1st. Finally, KeyCorp reduced their target price on PTC from $211.00 to $185.00 and set an "overweight" rating for the company in a report on Wednesday, April 16th. One analyst has rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $188.69.

Insider Transactions at PTC

In other PTC news, EVP Staats Aaron C. Von sold 1,988 shares of PTC stock in a transaction on Wednesday, May 7th. The stock was sold at an average price of $160.00, for a total transaction of $318,080.00. Following the sale, the executive vice president owned 17,731 shares of the company's stock, valued at $2,836,960. The trade was a 10.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.32% of the stock is owned by company insiders.

PTC Stock Performance

Shares of PTC traded up $0.73 during midday trading on Tuesday, hitting $173.07. 1,271,130 shares of the stock traded hands, compared to its average volume of 892,468. The business's 50 day moving average price is $165.77 and its two-hundred day moving average price is $168.25. The firm has a market capitalization of $20.76 billion, a PE ratio of 47.55, a price-to-earnings-growth ratio of 2.31 and a beta of 1.18. 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 $203.09.

PTC (NASDAQ:PTC - Get Free Report) last posted its earnings results on Wednesday, April 30th. The technology company reported $1.79 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.37 by $0.42. PTC had a net margin of 18.77% and a return on equity of 15.35%. The firm had revenue of $636.37 million during the quarter, compared to analyst estimates of $608.64 million. During the same period in the previous year, the business posted $1.46 EPS. PTC's revenue was up 5.5% on a year-over-year basis. Equities research analysts predict 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.