Keeler Thomas Management LLC Sells 5,777 Shares of PTC Inc. $PTC

Key Points

• Keeler Thomas Management LLC cut its PTC stake by 26.3% in the third quarter, selling 5,777 shares and retaining 16,171 shares valued at approximately $2.27 million.
• Institutional investors own 95.14% of PTC, with several major firms—including Jupiter Topco, Amundi, State Street, and HSBC—buying or increasing positions.
• PTC shares opened at $194.31, near their 52-week high of $198.76. Analysts maintain a consensus “Hold” rating with an average price target of $200.06.

Keeler Thomas Management LLC reduced its holdings in shares of PTC Inc. (NASDAQ:PTC - Free Report) by 26.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 16,171 shares of the technology company's stock after selling 5,777 shares during the quarter. Keeler Thomas Management LLC's holdings in PTC were worth $2,269,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Jupiter Topco LLC purchased a new stake in shares of PTC during the 2nd quarter valued at $418,553,000. Amundi raised its stake in shares of PTC by 151.9% during the 1st quarter. Amundi now owns 1,725,555 shares of the technology company's stock worth $245,885,000 after purchasing an additional 1,040,656 shares during the period. Legal & General Group Plc bought a new stake in shares of PTC during the 2nd quarter worth $91,045,000. State Street Corp boosted its holdings in shares of PTC by 10.2% in the 2nd quarter. State Street Corp now owns 6,452,323 shares of the technology company's stock worth $733,048,000 after buying an additional 596,955 shares during the last quarter. Finally, Hsbc Holdings PLC purchased a new position in shares of PTC in the 2nd quarter worth about $66,753,000. Hedge funds and other institutional investors own 95.14% of the company's stock.

PTC Stock Performance

NASDAQ:PTC opened at $194.31 on Tuesday. The company has a market capitalization of $21.08 billion, a P/E ratio of 24.49, a P/E/G ratio of 2.56 and a beta of 0.99. The business has a fifty day simple moving average of $163.72 and a two-hundred day simple moving average of $147.52. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.03 and a quick ratio of 1.03. PTC Inc. has a 1 year low of $108.50 and a 1 year high of $198.76.

Analyst Ratings Changes

Several research firms recently weighed in on PTC. KeyCorp lowered shares of PTC from an "overweight" rating to a "sector weight" rating in a research report on Monday, October 5th. JPMorgan Chase & Co. raised shares of PTC from an "underweight" rating to a "neutral" rating and lifted their price objective for the stock from $145.00 to $205.00 in a research report on Monday, October 5th. Stifel Nicolaus set a $205.00 price objective on shares of PTC in a research report on Monday, October 5th. Deutsche Bank Aktiengesellschaft cut shares of PTC to a "hold" rating and set a $205.00 target price on the stock. in a research note on Monday, October 5th. Finally, Citigroup increased their target price on shares of PTC from $141.00 to $205.00 and gave the company a "neutral" rating in a research report on Tuesday, October 6th. Two investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company's stock. Based on data from MarketBeat, PTC has a consensus rating of "Hold" and a consensus target price of $200.06.

Insider Buying and Selling at PTC

In related news, Director Corinna Lathan sold 1,750 shares of PTC stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $195.75, for a total value of $342,562.50. Following the completion of the sale, the director owned 6,679 shares of the company's stock, valued at approximately $1,307,414.25. This trade represents a 20.76% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.29% of the company's stock.

About PTC

PTC Inc NASDAQ: PTC develops software that helps manufacturers and other industrial companies design, manage, and optimize products and production processes. Its portfolio supports computer-aided design, product lifecycle management, digital manufacturing, and industrial Internet of Things initiatives.

The company's products include Creo for 3D computer-aided design and engineering, Windchill for product lifecycle management, and Codebeamer for application lifecycle management. PTC also offers ThingWorx for industrial connectivity and IoT applications, Kepware for industrial automation connectivity, and Vuforia for augmented reality solutions.

Founded in 1985, PTC serves customers globally across industries such as automotive, aerospace and defense, industrial equipment, electronics, and life sciences.

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