Sone Capital Management LLC Takes $7.77 Million Position in PTC Inc. (NASDAQ:PTC)

Sone Capital Management LLC bought a new stake in PTC Inc. (NASDAQ:PTC - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 42,271 shares of the technology company's stock, valued at approximately $7,772,000.

Several other institutional investors and hedge funds have also made changes to their positions in PTC. T. Rowe Price Investment Management Inc. raised its stake in 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 acquiring an additional 1,773,653 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of PTC by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 14,292,492 shares of the technology company's stock worth $2,627,961,000 after buying an additional 240,080 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of PTC by 2.3% during the 4th quarter. Geode Capital Management LLC now owns 3,029,401 shares of the technology company's stock worth $555,626,000 after buying an additional 67,504 shares in the last quarter. Fernbridge Capital Management LP raised its stake in shares of PTC by 6.0% during the 4th quarter. Fernbridge Capital Management LP now owns 1,514,569 shares of the technology company's stock worth $278,484,000 after buying an additional 85,564 shares in the last quarter. Finally, Northern Trust Corp raised its stake in shares of PTC by 11.0% during the 4th quarter. Northern Trust Corp now owns 1,313,273 shares of the technology company's stock worth $241,472,000 after buying an additional 129,910 shares in the last quarter. 95.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Wall Street Zen cut PTC from a "buy" rating to a "hold" rating in a report on Tuesday. Piper Sandler lowered their price target on PTC from $202.00 to $180.00 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Citigroup lowered their price target on PTC from $200.00 to $195.00 and set a "neutral" rating on the stock in a report on Wednesday, February 5th. Stifel Nicolaus lowered their price target on PTC from $230.00 to $200.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. Finally, JPMorgan Chase & Co. restated a "neutral" rating and issued a $160.00 price target (down previously from $210.00) on shares of PTC in a report on Wednesday, April 9th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, PTC currently has an average rating of "Moderate Buy" and an average target price of $187.15.

Insider Activity

In other news, Director Corinna Lathan sold 622 shares of the firm's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $155.53, for a total transaction of $96,739.66. Following the completion of 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Staats Aaron C. Von sold 1,988 shares of PTC stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $160.00, for a total value of $318,080.00. Following the completion of the transaction, the executive vice president now owns 17,731 shares of the company's stock, valued at $2,836,960. This trade represents a 10.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.32% of the company's stock.

PTC Trading Up 0.7%

Shares of PTC traded up $1.24 during trading hours on Thursday, hitting $170.37. The stock had a trading volume of 808,402 shares, compared to its average volume of 877,271. The company's fifty day simple moving average is $155.59 and its 200 day simple moving average is $173.81. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.69 and a current ratio of 0.69. PTC Inc. has a 12-month low of $133.38 and a 12-month high of $203.09. The firm has a market cap of $20.44 billion, a P/E ratio of 52.58, a P/E/G ratio of 2.27 and a beta of 1.19.

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

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.