Millennium Management LLC Trims Position in PTC Inc. (NASDAQ:PTC)

Millennium Management LLC reduced its holdings in shares of PTC Inc. (NASDAQ:PTC - Free Report) by 70.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,907 shares of the technology company's stock after selling 142,852 shares during the period. Millennium Management LLC's holdings in PTC were worth $11,015,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of PTC. Aster Capital Management DIFC Ltd bought a new stake in PTC during the 4th quarter valued at about $30,000. Allworth Financial LP increased its stake in PTC by 58.0% during the 4th quarter. Allworth Financial LP now owns 188 shares of the technology company's stock valued at $35,000 after purchasing an additional 69 shares in the last quarter. Kapitalo Investimentos Ltda bought a new stake in PTC during the 4th quarter valued at about $51,000. Assetmark Inc. grew its stake in shares of PTC by 825.0% in the fourth quarter. Assetmark Inc. now owns 333 shares of the technology company's stock worth $61,000 after acquiring an additional 297 shares during the period. Finally, New Age Alpha Advisors LLC bought a new stake in shares of PTC in the fourth quarter worth approximately $77,000. 95.14% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Corinna Lathan sold 622 shares of the stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 7,604 shares of the company's stock, valued at $1,182,650.12. This trade represents a 7.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Staats Aaron C. Von sold 1,988 shares of the stock in a transaction that occurred 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 now directly owns 17,731 shares of the company's stock, valued at $2,836,960. The trade was a 10.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.32% of the stock is owned by insiders.

PTC Trading Up 1.5%

Shares of NASDAQ PTC traded up $2.60 during mid-day trading on Tuesday, reaching $171.37. The company had a trading volume of 891,732 shares, compared to its average volume of 879,045. The business's 50-day moving average is $156.15 and its 200-day moving average is $173.10. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.32. The stock has a market cap of $20.56 billion, a price-to-earnings ratio of 52.89, a price-to-earnings-growth ratio of 2.27 and a beta of 1.19. PTC Inc. has a 52 week low of $133.38 and a 52 week high of $203.09.

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

Analysts Set New Price Targets

Several brokerages have weighed in on PTC. BMO Capital Markets lifted their price target on shares of PTC from $183.00 to $187.00 and gave the company an "outperform" rating in a report on Thursday, May 1st. Robert W. Baird boosted 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. Mizuho reduced their price target on shares of PTC from $190.00 to $160.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Wall Street Zen cut shares of PTC from a "buy" rating to a "hold" rating in a research report on Tuesday, May 20th. Finally, Oppenheimer reduced their price target on shares of PTC from $210.00 to $170.00 and set an "outperform" rating on the stock in a research report on Friday, April 25th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, PTC has an average rating of "Moderate Buy" and an average price target of $187.15.

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.