GraniteShares Advisors LLC Reduces Stock Position in PTC Inc. (NASDAQ:PTC)

GraniteShares Advisors LLC lessened its holdings in PTC Inc. (NASDAQ:PTC) by 19.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,064 shares of the technology company’s stock after selling 735 shares during the quarter. GraniteShares Advisors LLC’s holdings in PTC were worth $536,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of PTC. Vanguard Group Inc. boosted its stake in PTC by 6.6% in the third quarter. Vanguard Group Inc. now owns 13,870,249 shares of the technology company’s stock valued at $1,965,137,000 after acquiring an additional 859,227 shares in the last quarter. Norges Bank acquired a new position in PTC in the fourth quarter valued at $48,590,000. Select Equity Group L.P. acquired a new stake in shares of PTC during the first quarter worth about $43,148,000. Barclays PLC boosted its stake in shares of PTC by 67.0% during the third quarter. Barclays PLC now owns 691,521 shares of the technology company’s stock worth $97,975,000 after buying an additional 277,358 shares during the period. Finally, Jennison Associates LLC acquired a new stake in shares of PTC during the third quarter worth about $39,054,000. Institutional investors and hedge funds own 95.14% of the company’s stock.

PTC Price Performance

Shares of NASDAQ:PTC opened at $179.22 on Wednesday. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.80. The company has a market cap of $21.43 billion, a P/E ratio of 90.67, a PEG ratio of 3.17 and a beta of 1.17. PTC Inc. has a 52 week low of $120.62 and a 52 week high of $194.24. The company has a 50-day moving average price of $183.79 and a 200 day moving average price of $168.28.

PTC (NASDAQ:PTC) last issued its earnings results on Wednesday, January 31st. The technology company reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.07. PTC had a net margin of 10.86% and a return on equity of 12.87%. The company had revenue of $550.21 million during the quarter, compared to analysts’ expectations of $538.59 million. Research analysts predict that PTC Inc. will post 3.47 earnings per share for the current year.

Insider Buying and Selling at PTC

In other PTC news, CEO James E. Heppelmann sold 35,000 shares of the stock in a transaction dated Monday, February 5th. The shares were sold at an average price of $177.24, for a total value of $6,203,400.00. Following the completion of the transaction, the chief executive officer now directly owns 968,357 shares of the company’s stock, valued at $171,631,594.68. The sale was disclosed in a filing with the SEC, which is available at this link. In other PTC news, insider Catherine Kniker sold 1,330 shares of the stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $179.59, for a total value of $238,854.70. Following the completion of the transaction, the insider now directly owns 13,864 shares of the company’s stock, valued at $2,489,835.76. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO James E. Heppelmann sold 35,000 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $177.24, for a total transaction of $6,203,400.00. Following the transaction, the chief executive officer now directly owns 968,357 shares of the company’s stock, valued at $171,631,594.68. The disclosure for this sale can be found here. Over the last three months, insiders sold 36,415 shares of company stock valued at $6,457,478. Corporate insiders own 1.17% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on PTC shares. Barclays increased their target price on shares of PTC from $198.00 to $215.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Rosenblatt Securities reiterated a “buy” rating and set a $195.00 target price on shares of PTC in a research note on Friday, April 12th. Mizuho increased their target price on shares of PTC from $200.00 to $210.00 and gave the stock a “buy” rating in a research note on Thursday, February 1st. Robert W. Baird reiterated an “outperform” rating and set a $210.00 target price on shares of PTC in a research note on Tuesday, April 2nd. Finally, KeyCorp increased their target price on shares of PTC from $190.00 to $205.00 and gave the stock an “overweight” rating in a research note on Thursday, February 1st. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $196.73.

PTC Profile

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.