PTC Inc. $PTC Shares Sold by Granahan Investment Management LLC

Key Points

• Granahan Investment Management LLC reduced its stake in PTC Inc. by 50.2%, selling 20,467 shares and leaving them with 20,299 shares worth approximately $3.145 million.
• PTC exceeded revenue expectations with a 24.2% year-over-year increase, reporting $643.94 million in revenue for the latest quarter.
• PTC received a downgrade from a "strong-buy" to a "buy" rating, with multiple analysts setting price targets between $200.00 and $233.00 for the stock.

Granahan Investment Management LLC reduced its position in PTC Inc. (NASDAQ:PTC - Free Report) by 50.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,299 shares of the technology company's stock after selling 20,467 shares during the quarter. Granahan Investment Management LLC's holdings in PTC were worth $3,145,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the stock. Bartlett & CO. Wealth Management LLC bought a new position in shares of PTC during the 1st quarter valued at about $26,000. Motco acquired a new stake in shares of PTC in the first quarter worth about $29,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of PTC in the first quarter valued at about $33,000. Zions Bancorporation National Association UT bought a new position in PTC during the first quarter valued at about $39,000. Finally, Pinney & Scofield Inc. acquired a new stake in shares of PTC during the 4th quarter valued at about $47,000. Institutional investors own 95.14% of the company's stock.

PTC Trading Down 4.1%

Shares of PTC traded down $8.70 during mid-day trading on Tuesday, hitting $204.03. 1,474,567 shares of the company's stock traded hands, compared to its average volume of 1,052,359. The firm has a market capitalization of $24.44 billion, a P/E ratio of 48.12, a PEG ratio of 2.27 and a beta of 1.18. The business's 50-day moving average price is $203.92 and its 200-day moving average price is $175.58. PTC Inc. has a 1 year low of $133.38 and a 1 year high of $219.69. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.34.

PTC (NASDAQ:PTC - Get Free Report) last announced its earnings results on Wednesday, July 30th. The technology company reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $582.12 million. During the same period last year, the firm posted $0.98 earnings per share. The business's revenue for the quarter was up 24.2% on a year-over-year basis. PTC has set its FY 2025 guidance at 6.630-7.030 EPS. Q4 2025 guidance at 2.100-2.500 EPS. As a group, sell-side analysts forecast that PTC Inc. will post 4.46 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have commented on PTC. BMO Capital Markets upped their target price on shares of PTC from $187.00 to $231.00 and gave the company an "outperform" rating in a research report on Thursday, July 31st. Piper Sandler raised their target price on shares of PTC from $180.00 to $200.00 and gave the company a "neutral" rating in a research note on Thursday, July 31st. Rosenblatt Securities restated a "buy" rating and set a $204.00 price objective on shares of PTC in a research report on Tuesday, July 29th. Cantor Fitzgerald set a $120.00 target price on shares of PTC and gave the company an "overweight" rating in a research report on Tuesday, July 29th. Finally, Barclays set a $233.00 price objective on shares of PTC in a research note on Thursday, July 31st. Eleven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $202.14.

Insider Activity at PTC

In other news, EVP Staats Aaron C. Von sold 1,988 shares of the firm's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $216.29, for a total transaction of $429,984.52. Following the sale, the executive vice president owned 15,743 shares of the company's stock, valued at approximately $3,405,053.47. This trade represents a 11.21% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate 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.