Lansforsakringar Fondforvaltning AB publ Takes $7.08 Million Position in PTC Inc. (NASDAQ:PTC)

Lansforsakringar Fondforvaltning AB publ bought a new position in shares of PTC Inc. (NASDAQ:PTC - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 38,491 shares of the technology company's stock, valued at approximately $7,077,000.

Other hedge funds have also recently bought and sold shares of the company. Aster Capital Management DIFC Ltd acquired a new stake in shares of PTC during the 4th quarter valued at about $30,000. Allworth Financial LP increased its position in PTC by 58.0% in the 4th quarter. Allworth Financial LP now owns 188 shares of the technology company's stock worth $35,000 after buying an additional 69 shares during the period. Pinney & Scofield Inc. bought a new position in PTC in the 4th quarter worth approximately $47,000. Kapitalo Investimentos Ltda bought a new stake in shares of PTC during the fourth quarter valued at approximately $51,000. Finally, Assetmark Inc. increased its position in shares of PTC by 825.0% during the fourth quarter. Assetmark Inc. now owns 333 shares of the technology company's stock valued at $61,000 after purchasing an additional 297 shares during the period. 95.14% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

PTC has been the topic of a number of analyst reports. Oppenheimer lowered their price target on PTC from $210.00 to $170.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Citigroup cut their price target on PTC from $200.00 to $195.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 5th. BMO Capital Markets upped their price target on PTC from $183.00 to $187.00 and gave the company an "outperform" rating in a research note on Thursday, May 1st. Rosenblatt Securities reissued a "buy" rating and issued a $204.00 target price on shares of PTC in a research note on Thursday, May 1st. Finally, Robert W. Baird increased their target price on PTC from $185.00 to $191.00 and gave the stock an "outperform" rating in a research note on Thursday, May 1st. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, PTC currently has a consensus rating of "Moderate Buy" and an average target price of $187.15.

PTC Price Performance

Shares of PTC stock traded down $1.57 during trading on Monday, hitting $166.75. 749,481 shares of the stock traded hands, compared to its average volume of 880,374. The firm's fifty day moving average is $156.85 and its 200-day moving average is $172.26. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 0.32. PTC Inc. has a 52 week low of $133.38 and a 52 week high of $203.09. The stock has a market cap of $20.00 billion, a price-to-earnings ratio of 51.47, a PEG ratio of 2.27 and a beta of 1.19.

PTC (NASDAQ:PTC - Get Free Report) last released its earnings results on Wednesday, April 30th. The technology company reported $1.79 EPS for the quarter, beating analysts' consensus estimates of $1.37 by $0.42. The company had revenue of $636.37 million during the quarter, compared to analysts' expectations of $608.64 million. PTC had a return on equity of 14.49% and a net margin of 16.95%. The firm's revenue for the quarter was up 5.5% compared to the same quarter last year. During the same quarter last year, the business posted $1.46 EPS. Research analysts expect that PTC Inc. will post 4.46 EPS for the current fiscal year.

Insiders Place Their Bets

In other PTC news, EVP Staats Aaron C. Von sold 1,988 shares of the 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 now owns 17,731 shares of the company's stock, valued at approximately $2,836,960. This trade represents a 10.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Corinna Lathan sold 622 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $155.53, for a total value of $96,739.66. Following the sale, the director now directly owns 7,604 shares in the company, valued at $1,182,650.12. This trade represents a 7.56% decrease in their position. The disclosure for this sale can be found here. Company 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.