Peregrine Capital Management LLC Sells 24,100 Shares of PTC Inc. $PTC

Key Points

• Peregrine Capital Management cut its PTC stake by 27.6% in the first quarter, selling 24,100 shares and leaving it with 63,348 shares worth about $9.0 million.
• PTC’s latest earnings beat expectations, with quarterly EPS of $2.69 versus the $2.06 estimate and revenue of $774.3 million, up 21.7% year over year.
• Wall Street remains cautiously positive on PTC, with a consensus rating of “Moderate Buy” and an average price target of $173.60, even as some analysts trimmed targets.

Peregrine Capital Management LLC decreased its holdings in shares of PTC Inc. (NASDAQ:PTC - Free Report) by 27.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 63,348 shares of the technology company's stock after selling 24,100 shares during the period. Peregrine Capital Management LLC owned approximately 0.05% of PTC worth $9,026,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in PTC. T. Rowe Price Investment Management Inc. lifted its position in PTC by 3.4% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 18,384,246 shares of the technology company's stock valued at $3,202,720,000 after acquiring an additional 602,858 shares in the last quarter. State Street Corp raised its stake in shares of PTC by 5.6% in the fourth quarter. State Street Corp now owns 5,905,645 shares of the technology company's stock worth $1,028,822,000 after purchasing an additional 312,000 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of PTC by 2.0% in the fourth quarter. Geode Capital Management LLC now owns 3,570,540 shares of the technology company's stock valued at $619,901,000 after purchasing an additional 71,181 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of PTC by 0.9% in the fourth quarter. Janus Henderson Group PLC now owns 3,518,792 shares of the technology company's stock valued at $613,009,000 after purchasing an additional 32,508 shares in the last quarter. Finally, Pictet Asset Management Holding SA boosted its position in shares of PTC by 17.8% during the first quarter. Pictet Asset Management Holding SA now owns 3,505,930 shares of the technology company's stock valued at $499,525,000 after buying an additional 529,208 shares during the last quarter. 95.14% of the stock is currently owned by institutional investors and hedge funds.

PTC Stock Performance

Shares of PTC stock opened at $113.61 on Wednesday. The business's fifty day simple moving average is $133.73 and its 200 day simple moving average is $149.88. The company has a current ratio of 1.23, a quick ratio of 1.23 and a debt-to-equity ratio of 0.30. PTC Inc. has a 12 month low of $108.50 and a 12 month high of $219.69. The firm has a market capitalization of $13.12 billion, a P/E ratio of 10.84, a price-to-earnings-growth ratio of 1.66 and a beta of 0.97.

PTC (NASDAQ:PTC - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The technology company reported $2.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.06 by $0.63. PTC had a return on equity of 25.84% and a net margin of 41.81%.The firm had revenue of $774.30 million during the quarter, compared to the consensus estimate of $712.40 million. During the same quarter in the prior year, the company earned $1.79 EPS. The business's revenue for the quarter was up 21.7% on a year-over-year basis. PTC has set its FY 2026 guidance at 6.650-8.900 EPS and its Q3 2026 guidance at 1.240-1.780 EPS. As a group, analysts anticipate that PTC Inc. will post 6.35 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on PTC shares. Citigroup increased their price target on PTC from $146.00 to $155.00 and gave the company a "neutral" rating in a research report on Friday, May 8th. Rosenblatt Securities reaffirmed a "buy" rating and set a $190.00 price objective on shares of PTC in a report on Tuesday, May 5th. Robert W. Baird set a $198.00 target price on shares of PTC in a research note on Thursday, May 7th. Mizuho lowered their target price on shares of PTC from $180.00 to $160.00 and set a "neutral" rating for the company in a report on Monday, March 23rd. Finally, KeyCorp dropped their price target on shares of PTC from $210.00 to $195.00 and set an "overweight" rating on the stock in a research report on Tuesday, March 17th. Ten research analysts have rated the stock with a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $173.60.

Insider Buying and Selling

In other PTC news, CAO Alice Christenson sold 816 shares of the business's stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $145.82, for a total value of $118,989.12. Following the transaction, the chief accounting officer directly owned 1,265 shares in the company, valued at $184,462.30. The trade was a 39.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.29% of the company's stock.

PTC Company Profile

PTC Inc NASDAQ: PTC is a global technology company that develops software and services to help manufacturers design, operate, and service physical products. Founded in 1985 as Parametric Technology Corporation, PTC pioneered parametric, feature-based CAD with its Pro/ENGINEER product (now marketed as Creo) and has since expanded its portfolio to address product lifecycle management, Internet of Things (IoT), augmented reality (AR) and industrial connectivity.

Key product lines include Creo for 3D CAD; Windchill for product lifecycle management (PLM); ThingWorx, an IoT platform for connecting devices and building industrial applications; Vuforia, an AR platform for creating immersive service and training experiences; and Kepware, a suite for industrial connectivity and protocol translation.

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