Blake D. Moret Sells 18,000 Shares of PTC Inc. (NASDAQ:PTC) Stock

PTC Inc. (NASDAQ:PTC – Get Rating) Director Blake D. Moret sold 18,000 shares of the stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $130.80, for a total transaction of $2,354,400.00. Following the sale, the director now owns 6,070,905 shares in the company, valued at approximately $794,074,374. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

PTC Stock Performance

Shares of NASDAQ PTC opened at $131.03 on Friday. The firm has a fifty day moving average price of $126.99 and a 200-day moving average price of $126.65. The company has a debt-to-equity ratio of 0.76, a current ratio of 0.73 and a quick ratio of 0.73. The stock has a market cap of $15.51 billion, a PE ratio of 49.26, a price-to-earnings-growth ratio of 2.84 and a beta of 1.19. PTC Inc. has a 1 year low of $97.97 and a 1 year high of $139.91.

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Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. increased their price objective on shares of PTC from $128.00 to $130.00 and gave the company a “neutral” rating in a research report on Thursday, February 2nd. Mizuho increased their price objective on shares of PTC from $165.00 to $170.00 in a research report on Wednesday, May 17th. KeyCorp increased their price objective on shares of PTC from $155.00 to $160.00 and gave the company an “overweight” rating in a research report on Thursday, February 2nd. Barclays increased their price objective on shares of PTC from $150.00 to $152.00 in a research report on Thursday, April 27th. Finally, Royal Bank of Canada increased their price objective on shares of PTC from $140.00 to $155.00 and gave the company an “outperform” rating in a research report on Monday, January 30th. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, PTC has an average rating of “Moderate Buy” and an average target price of $155.50.

Institutional Trading of PTC

Hedge funds and other institutional investors have recently modified their holdings of the company. Clear Street Markets LLC increased its stake in shares of PTC by 93.5% in the first quarter. Clear Street Markets LLC now owns 207 shares of the technology company’s stock worth $27,000 after purchasing an additional 100 shares in the last quarter. Belpointe Asset Management LLC purchased a new stake in shares of PTC in the fourth quarter worth $27,000. Desjardins Global Asset Management Inc. purchased a new position in PTC during the first quarter valued at $43,000. EverSource Wealth Advisors LLC grew its stake in PTC by 1,527.3% during the third quarter. EverSource Wealth Advisors LLC now owns 358 shares of the technology company’s stock valued at $37,000 after acquiring an additional 336 shares in the last quarter. Finally, Stephens Inc. AR grew its stake in PTC by 25.7% during the first quarter. Stephens Inc. AR now owns 401 shares of the technology company’s stock valued at $51,000 after acquiring an additional 82 shares in the last quarter. 86.79% of the stock is owned by hedge funds and other institutional investors.

About PTC

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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.

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