PTC (NASDAQ:PTC) Shares Gap Down - Should You Sell?

PTC Inc. (NASDAQ:PTC - Get Free Report)'s share price gapped down prior to trading on Thursday . The stock had previously closed at $210.47, but opened at $198.35. PTC shares last traded at $193.90, with a volume of 2,493,835 shares.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on PTC shares. Piper Sandler reduced their price objective on PTC from $202.00 to $180.00 and set a "neutral" rating for the company in a research note on Thursday, May 1st. KeyCorp reaffirmed an "overweight" rating and issued a $192.00 target price (up from $185.00) on shares of PTC in a research report on Monday. Mizuho dropped their target price on PTC from $190.00 to $160.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Rosenblatt Securities reaffirmed a "buy" rating and issued a $204.00 target price on shares of PTC in a research report on Thursday, May 1st. Finally, Barclays dropped their target price on PTC from $215.00 to $175.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $189.23.

PTC Stock Performance

The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.40. The firm has a market cap of $23.34 billion, a price-to-earnings ratio of 53.46, a price-to-earnings-growth ratio of 2.90 and a beta of 1.17. The stock has a fifty day moving average price of $169.82 and a 200 day moving average price of $168.00.

PTC (NASDAQ:PTC - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The technology company reported $1.79 EPS for the quarter, beating analysts' consensus estimates of $1.37 by $0.42. The business had revenue of $636.37 million for the quarter, compared to analyst estimates of $608.64 million. PTC had a return on equity of 15.35% and a net margin of 18.77%. The firm's revenue for the quarter was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.46 EPS. As a group, analysts predict that PTC Inc. will post 4.46 earnings per share for the current year.

Insider Transactions at PTC

In other PTC news, EVP Staats Aaron C. Von sold 1,988 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $160.00, for a total value of $318,080.00. Following the sale, the executive vice president owned 17,731 shares of the company's stock, valued at $2,836,960. This trade represents a 10.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.32% of the stock is owned by company insiders.

Institutional Trading of PTC

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PTC. T. Rowe Price Investment Management Inc. lifted its holdings in shares of PTC by 17.7% during the first quarter. T. Rowe Price Investment Management Inc. now owns 20,312,856 shares of the technology company's stock valued at $3,147,478,000 after acquiring an additional 3,048,311 shares during the period. Nuveen LLC bought a new position in PTC during the 1st quarter valued at about $241,789,000. Pictet Asset Management Holding SA boosted its position in PTC by 41.6% in the first quarter. Pictet Asset Management Holding SA now owns 2,876,333 shares of the technology company's stock valued at $445,687,000 after buying an additional 844,418 shares in the last quarter. Norges Bank bought a new stake in PTC during the fourth quarter worth about $128,852,000. Finally, GAMMA Investing LLC increased its holdings in shares of PTC by 13,184.0% during the first quarter. GAMMA Investing LLC now owns 345,384 shares of the technology company's stock worth $53,517,000 after buying an additional 342,784 shares in the last quarter. Institutional investors and hedge funds own 95.14% of the company's stock.

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.