Norden Group LLC Sells 7,000 Shares of PTC Inc. (NASDAQ:PTC)

Norden Group LLC lowered its holdings in shares of PTC Inc. (NASDAQ:PTC - Free Report) by 71.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,845 shares of the technology company's stock after selling 7,000 shares during the period. Norden Group LLC's holdings in PTC were worth $441,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Bartlett & CO. Wealth Management LLC purchased a new position in shares of PTC during the first quarter valued at approximately $26,000. Motco purchased a new position in shares of PTC during the first quarter valued at approximately $29,000. Aster Capital Management DIFC Ltd purchased a new position in shares of PTC during the fourth quarter valued at approximately $30,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of PTC during the first quarter valued at approximately $33,000. Finally, UMB Bank n.a. raised its holdings 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 valued at $46,000 after purchasing an additional 178 shares during the last quarter. Institutional investors own 95.14% of the company's stock.

Insider Buying and Selling

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

PTC Price Performance

Shares of PTC traded down $2.70 during midday trading on Friday, hitting $212.11. 1,598,374 shares of the company traded hands, compared to its average volume of 1,090,034. The firm has a 50 day moving average of $180.41 and a 200-day moving average of $169.70. PTC Inc. has a 52 week low of $133.38 and a 52 week high of $219.69. The stock has a market cap of $25.44 billion, a price-to-earnings ratio of 50.03, a PEG ratio of 2.76 and a beta of 1.17. 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 (NASDAQ:PTC - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The technology company reported $1.64 EPS for the quarter, beating the consensus estimate of $1.22 by $0.42. PTC had a net margin of 20.74% and a return on equity of 17.40%. The business had revenue of $643.94 million during the quarter, compared to the consensus estimate of $582.12 million. During the same quarter in the prior year, the firm earned $0.98 EPS. The business's revenue was up 24.2% on a year-over-year basis. On average, analysts forecast that PTC Inc. will post 4.46 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PTC. Mizuho reduced their target price on shares of PTC from $190.00 to $160.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. Rosenblatt Securities reaffirmed a "buy" rating and set a $204.00 target price on shares of PTC in a report on Tuesday. Stifel Nicolaus upped their target price on shares of PTC from $200.00 to $220.00 and gave the company a "buy" rating in a report on Thursday. Royal Bank Of Canada upped their target price on shares of PTC from $224.00 to $235.00 and gave the company an "outperform" rating in a report on Thursday. Finally, Cantor Fitzgerald set a $120.00 target price on shares of PTC and gave the company an "overweight" rating in a report on Tuesday. Six analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, PTC currently has a consensus rating of "Moderate Buy" and a consensus target price of $202.14.

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.