Principal Financial Group Inc. Has $15.63 Million Position in PTC Inc. (NASDAQ:PTC)

Principal Financial Group Inc. trimmed its stake in shares of PTC Inc. (NASDAQ:PTC – Get Rating) by 1.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 130,231 shares of the technology company’s stock after selling 1,805 shares during the quarter. Principal Financial Group Inc. owned approximately 0.11% of PTC worth $15,633,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in PTC. Belpointe Asset Management LLC bought a new stake in shares of PTC during the fourth quarter worth $27,000. EverSource Wealth Advisors LLC increased its holdings in PTC by 1,527.3% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 358 shares of the technology company’s stock worth $37,000 after purchasing an additional 336 shares in the last quarter. Brown Brothers Harriman & Co. bought a new position in PTC in the first quarter valued at about $50,000. Neo Ivy Capital Management boosted its stake in shares of PTC by 157.9% during the third quarter. Neo Ivy Capital Management now owns 490 shares of the technology company’s stock valued at $51,000 after purchasing an additional 300 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd raised its position in PTC by 444.3% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 528 shares of the technology company’s stock worth $48,000 after purchasing an additional 431 shares during the last quarter. Institutional investors own 86.79% of the company’s stock.

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PTC Price Performance

PTC stock opened at $130.86 on Wednesday. The firm has a 50 day moving average of $126.25 and a 200-day moving average of $126.55. The firm has a market capitalization of $15.49 billion, a P/E ratio of 49.20, a price-to-earnings-growth ratio of 2.94 and a beta of 1.19. PTC Inc. has a 12 month low of $97.97 and a 12 month high of $139.91. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.76.

Insider Activity

In related news, Director Blake D. Moret sold 25,225 shares of the company’s stock in a transaction that occurred on Tuesday, May 16th. The shares were sold at an average price of $129.89, for a total value of $3,276,475.25. Following the transaction, the director now directly owns 6,448,905 shares in the company, valued at $837,648,270.45. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Blake D. Moret sold 25,225 shares of the stock in a transaction dated Tuesday, May 16th. The stock was sold at an average price of $129.89, for a total transaction of $3,276,475.25. Following the completion of the sale, the director now directly owns 6,448,905 shares in the company, valued at approximately $837,648,270.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Blake D. Moret sold 40,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 10th. The shares were sold at an average price of $130.42, for a total value of $5,216,800.00. Following the completion of the sale, the director now owns 6,574,334 shares of the company’s stock, valued at approximately $857,424,640.28. The disclosure for this sale can be found here. Insiders sold 552,190 shares of company stock worth $69,856,517 in the last three months. Corporate insiders own 8.26% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on PTC shares. Rosenblatt Securities restated a “buy” rating and set a $148.00 target price on shares of PTC in a research report on Friday, April 14th. StockNews.com assumed coverage on PTC in a report on Thursday, May 18th. They set a “hold” rating for the company. Citigroup cut their target price on PTC from $147.00 to $140.00 in a report on Monday, April 24th. JPMorgan Chase & Co. boosted their price target on shares of PTC from $128.00 to $130.00 and gave the company a “neutral” rating in a research note on Thursday, February 2nd. Finally, Royal Bank of Canada raised their price objective on shares of PTC from $140.00 to $155.00 and gave the company an “outperform” rating in a research note on Monday, January 30th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, PTC currently has a consensus rating of “Moderate Buy” and a consensus price target of $154.55.

PTC Profile

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PTC, Inc is a global software company, which engages in the provision of portfolio of innovative digital solutions that work together to transform how physical products are engineered, manufactured, and serviced. It operates through the Software Products and Professional Services segments. The Software Products segment includes license, subscription, and related support revenue for its products.

Further Reading

• Get a free copy of the StockNews.com research report on PTC (PTC)
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