Thrivent Financial for Lutherans Sells 45,481 Shares of PTC Inc. $PTC

Key Points

• Thrivent Financial for Lutherans cut its PTC stake by 48.8% in the fourth quarter, selling 45,481 shares and leaving it with 47,758 shares valued at about $8.32 million.
• PTC’s latest earnings beat expectations, with quarterly EPS of $2.69 versus the $2.06 consensus and revenue of $774.3 million, up 21.7% year over year.
• Analysts remain broadly positive despite some target cuts: PTC has a Moderate Buy consensus rating with an average price target of $177.23, while the stock recently traded at $145.19.

Thrivent Financial for Lutherans lowered its stake in PTC Inc. (NASDAQ:PTC - Free Report) by 48.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 47,758 shares of the technology company's stock after selling 45,481 shares during the quarter. Thrivent Financial for Lutherans' holdings in PTC were worth $8,320,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in PTC. Root Financial Partners LLC bought a new position in shares of PTC in the third quarter worth about $30,000. Board of the Pension Protection Fund bought a new position in PTC in the 4th quarter valued at approximately $35,000. Versant Capital Management Inc raised its holdings in PTC by 37.6% in the 3rd quarter. Versant Capital Management Inc now owns 194 shares of the technology company's stock valued at $39,000 after buying an additional 53 shares during the last quarter. Rakuten Securities Inc. raised its holdings in PTC by 2,725.0% in the 4th quarter. Rakuten Securities Inc. now owns 226 shares of the technology company's stock valued at $39,000 after buying an additional 218 shares during the last quarter. Finally, Quarry LP raised its holdings in PTC by 86.2% in the 3rd quarter. Quarry LP now owns 203 shares of the technology company's stock valued at $41,000 after buying an additional 94 shares during the last quarter. Institutional investors own 95.14% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PTC. Citigroup raised their price objective on shares of PTC from $146.00 to $155.00 and gave the company a "neutral" rating in a report on Friday, May 8th. KeyCorp dropped their price objective on shares of PTC from $210.00 to $195.00 and set an "overweight" rating for the company in a report on Tuesday, March 17th. BMO Capital Markets dropped their price objective on shares of PTC from $219.00 to $189.00 and set an "outperform" rating for the company in a report on Thursday, February 5th. Royal Bank Of Canada dropped their price objective on shares of PTC from $235.00 to $195.00 and set an "outperform" rating for the company in a report on Thursday, February 5th. Finally, Rosenblatt Securities reiterated a "buy" rating and issued a $190.00 price objective on shares of PTC in a report on Tuesday, May 5th. Ten investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $177.23.

PTC Price Performance

Shares of NASDAQ PTC opened at $145.19 on Wednesday. PTC Inc. has a twelve month low of $130.89 and a twelve month high of $219.69. The firm has a fifty day simple moving average of $143.69 and a 200 day simple moving average of $160.23. The company has a market capitalization of $16.77 billion, a PE ratio of 13.85, a P/E/G ratio of 2.12 and a beta of 0.98. The company has a quick ratio of 1.23, a current ratio of 1.23 and a debt-to-equity ratio of 0.30.

PTC (NASDAQ:PTC - Get Free Report) last announced its earnings results on Wednesday, May 6th. The technology company reported $2.69 earnings per share for the quarter, topping analysts' consensus estimates of $2.06 by $0.63. PTC had a net margin of 41.81% and a return on equity of 25.84%. The business had revenue of $774.30 million during the quarter, compared to the consensus estimate of $712.40 million. During the same quarter last year, the firm earned $1.79 earnings per share. PTC's quarterly revenue 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. On average, sell-side analysts forecast that PTC Inc. will post 6.3 EPS for the current year.

Insiders Place Their Bets

In related news, Director Corinna Lathan sold 675 shares of PTC stock in a transaction on Monday, March 16th. The shares were sold at an average price of $157.24, for a total transaction of $106,137.00. Following the completion of the transaction, the director owned 8,429 shares of the company's stock, valued at $1,325,375.96. This trade represents a 7.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Alice Christenson sold 816 shares of PTC stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $145.82, for a total transaction of $118,989.12. Following the completion of the sale, the chief accounting officer owned 1,265 shares of the company's stock, valued at $184,462.30. This represents a 39.21% decrease in their position. The SEC filing for this sale provides additional information. 0.29% of the stock is owned by company insiders.

About PTC

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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