Insider Selling: PTC Inc. (NASDAQ:PTC) EVP Sells 1,988 Shares of Stock

Key Points

• PTC Inc. reported an executive vice president, Staats Aaron C. Von, sold 1,988 shares at an average price of $216.29, resulting in a total transaction of approximately $429,984.52.
• The company beat earnings estimates with an EPS of $1.64 and revenue of $643.94 million, reflecting a 24.2% year-over-year growth.
• Recent analyst ratings have varied, with Oppenheimer raising its price target to $240.00 while others have lowered ratings; overall, PTC has an average target price of $202.14.

PTC Inc. (NASDAQ:PTC - Get Free Report) EVP Staats Aaron C. Von sold 1,988 shares of the company's stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $216.29, for a total transaction of $429,984.52. Following the completion of the transaction, the executive vice president owned 15,743 shares of the company's stock, valued at approximately $3,405,053.47. This trade represents a 11.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

PTC Stock Performance

NASDAQ PTC traded down $0.73 during trading on Friday, hitting $205.42. The company's stock had a trading volume of 756,388 shares, compared to its average volume of 1,085,545. The firm has a market cap of $24.61 billion, a P/E ratio of 48.45, a price-to-earnings-growth ratio of 2.29 and a beta of 1.17. PTC Inc. has a 52 week low of $133.38 and a 52 week high of $219.69. The firm has a 50 day moving average price of $184.83 and a 200 day moving average price of $170.61. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.34.

PTC (NASDAQ:PTC - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The technology company reported $1.64 earnings per share for the quarter, topping analysts' consensus estimates of $1.22 by $0.42. PTC had a net margin of 20.74% and a return on equity of 17.09%. The firm had revenue of $643.94 million for the quarter, compared to the consensus estimate of $582.12 million. During the same quarter in the previous year, the company earned $0.98 earnings per share. The business's revenue was up 24.2% compared to the same quarter last year. Equities research analysts forecast that PTC Inc. will post 4.46 earnings per share for the current fiscal year.

Institutional Investors Weigh In On PTC

A number of hedge funds have recently made changes to their positions in the company. Bartlett & CO. Wealth Management LLC bought a new position in PTC in the 1st quarter worth approximately $26,000. Motco acquired a new stake in PTC in the first quarter worth $29,000. Aster Capital Management DIFC Ltd bought a new position in PTC during the fourth quarter worth about $30,000. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of PTC in the 1st quarter valued at approximately $33,000. Finally, Zions Bancorporation National Association UT bought a new stake in shares of PTC during the first quarter worth $39,000. Institutional investors and hedge funds own 95.14% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on PTC shares. Barclays set a $233.00 target price on shares of PTC in a research note on Thursday, July 31st. Mizuho dropped their target price 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 lowered PTC from a "buy" rating to a "hold" rating in a research report on Tuesday, May 20th. Stifel Nicolaus increased their target price on shares of PTC from $200.00 to $220.00 and gave the stock a "buy" rating in a research report on Thursday, July 31st. Finally, Oppenheimer lifted their price target on PTC from $225.00 to $240.00 and gave the company an "outperform" rating in a report on Thursday, July 31st. Six analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, PTC currently has an average rating of "Moderate Buy" and an average target price of $202.14.

About PTC

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.