Oppenheimer Asset Management Inc. Sells 9,258 Shares of PTC Inc. (NASDAQ:PTC)

Oppenheimer Asset Management Inc. lessened its holdings in shares of PTC Inc. (NASDAQ:PTC - Free Report) by 73.7% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,303 shares of the technology company's stock after selling 9,258 shares during the quarter. Oppenheimer Asset Management Inc.'s holdings in PTC were worth $512,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. T. Rowe Price Investment Management Inc. raised its holdings in shares of PTC by 11.4% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 17,264,545 shares of the technology company's stock valued at $3,174,432,000 after purchasing an additional 1,773,653 shares in the last quarter. Raymond James Financial Inc. acquired a new position in PTC during the fourth quarter worth $146,712,000. Norges Bank bought a new position in PTC during the fourth quarter valued at about $128,852,000. GAMMA Investing LLC raised its holdings in PTC by 13,184.0% during the first quarter. GAMMA Investing LLC now owns 345,384 shares of the technology company's stock valued at $53,517,000 after buying an additional 342,784 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in shares of PTC in the fourth quarter worth about $59,506,000. Institutional investors own 95.14% of the company's stock.

PTC Stock Down 0.1%

NASDAQ PTC opened at $169.30 on Monday. PTC Inc. has a 1-year low of $133.38 and a 1-year high of $203.09. The company has a market capitalization of $20.31 billion, a price-to-earnings ratio of 46.51, a PEG ratio of 2.31 and a beta of 1.18. The stock's 50 day moving average is $165.11 and its two-hundred day moving average is $168.43. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.40.

PTC (NASDAQ:PTC - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The technology company reported $1.79 EPS for the quarter, beating the consensus estimate of $1.37 by $0.42. The business had revenue of $636.37 million for the quarter, compared to analyst estimates of $608.64 million. PTC had a return on equity of 15.35% and a net margin of 18.77%. PTC's quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.46 EPS. Equities analysts forecast that PTC Inc. will post 4.46 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on PTC shares. Stifel Nicolaus lowered their price objective on PTC from $230.00 to $200.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Barclays lowered their price target on PTC from $215.00 to $175.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Piper Sandler decreased their price objective on shares of PTC from $202.00 to $180.00 and set a "neutral" rating for the company in a report on Thursday, May 1st. Robert W. Baird lifted their target price on shares of PTC from $185.00 to $191.00 and gave the stock an "outperform" rating in a report on Thursday, May 1st. Finally, JPMorgan Chase & Co. restated a "neutral" rating and set a $160.00 price target (down from $210.00) on shares of PTC in a report on Wednesday, April 9th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $188.69.

Insider Activity at PTC

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 value of $318,080.00. Following the transaction, the executive vice president now directly owns 17,731 shares in the company, valued at approximately $2,836,960. This trade represents a 10.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.32% of the company's stock.

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.

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