Tealwood Asset Management Inc. Sells 2,238 Shares of PTC Inc. (NASDAQ:PTC)

Tealwood Asset Management Inc. reduced its position in PTC Inc. (NASDAQ:PTC - Free Report) by 24.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,748 shares of the technology company's stock after selling 2,238 shares during the quarter. Tealwood Asset Management Inc.'s holdings in PTC were worth $1,046,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bank Pictet & Cie Europe AG raised its holdings in shares of PTC by 1.4% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 3,925 shares of the technology company's stock valued at $722,000 after buying an additional 55 shares during the last quarter. Wahed Invest LLC increased its position in PTC by 2.1% in the fourth quarter. Wahed Invest LLC now owns 2,933 shares of the technology company's stock worth $539,000 after purchasing an additional 61 shares during the period. Allworth Financial LP increased its position in PTC by 58.0% in the fourth quarter. Allworth Financial LP now owns 188 shares of the technology company's stock worth $35,000 after purchasing an additional 69 shares during the period. Portside Wealth Group LLC increased its position in PTC by 2.4% in the first quarter. Portside Wealth Group LLC now owns 3,317 shares of the technology company's stock worth $514,000 after purchasing an additional 78 shares during the period. Finally, Otter Creek Advisors LLC increased its position in PTC by 0.4% in the fourth quarter. Otter Creek Advisors LLC now owns 19,181 shares of the technology company's stock worth $3,527,000 after purchasing an additional 80 shares during the period. 95.14% of the stock is owned by institutional investors.

Insider Transactions at PTC

In other PTC news, Director Corinna Lathan sold 622 shares of the company's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $155.53, for a total value of $96,739.66. Following the transaction, the director now directly owns 7,604 shares of the company's stock, valued at $1,182,650.12. This represents a 7.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Staats Aaron C. Von sold 1,988 shares of the company's stock in a transaction on Wednesday, May 7th. The shares were 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 directly owns 17,731 shares in the company, valued at approximately $2,836,960. This represents a 10.08% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.32% of the company's stock.

PTC Trading Up 1.5%

NASDAQ PTC opened at $170.34 on Friday. The stock has a market capitalization of $20.43 billion, a price-to-earnings ratio of 52.57, a PEG ratio of 2.27 and a beta of 1.18. The stock's 50 day moving average price is $157.82 and its two-hundred day moving average price is $171.93. 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 52 week low of $133.38 and a 52 week high of $203.09.

PTC (NASDAQ:PTC - Get Free Report) last released its 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 firm had revenue of $636.37 million for the quarter, compared to analysts' expectations of $608.64 million. PTC had a return on equity of 14.49% and a net margin of 16.95%. The business's quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.46 EPS. As a group, analysts anticipate that PTC Inc. will post 4.46 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Mizuho lowered their price objective on PTC from $190.00 to $160.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. Piper Sandler lowered their price objective on PTC from $202.00 to $180.00 and set a "neutral" rating for the company in a research report on Thursday, May 1st. Barclays decreased their target price on PTC from $215.00 to $175.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. BMO Capital Markets boosted their target price on PTC from $183.00 to $187.00 and gave the stock an "outperform" rating in a research report on Thursday, May 1st. Finally, Rosenblatt Securities restated a "buy" rating and set a $204.00 target price on shares of PTC in a research report on Thursday, May 1st. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus 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.

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