Peregrine Capital Management LLC Lowers Position in PTC Inc. $PTC

Peregrine Capital Management LLC trimmed its position in shares of PTC Inc. (NASDAQ:PTC) by 9.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 82,729 shares of the technology company’s stock after selling 8,522 shares during the quarter. Peregrine Capital Management LLC owned 0.07% of PTC worth $16,796,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in PTC. Vanguard Group Inc. lifted its position in shares of PTC by 2.9% during the second quarter. Vanguard Group Inc. now owns 14,748,971 shares of the technology company’s stock valued at $2,541,838,000 after purchasing an additional 416,791 shares in the last quarter. State Street Corp increased its stake in PTC by 4.0% in the 2nd quarter. State Street Corp now owns 5,372,296 shares of the technology company’s stock valued at $925,861,000 after buying an additional 205,029 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of PTC by 8.4% during the 2nd quarter. Geode Capital Management LLC now owns 3,415,785 shares of the technology company’s stock worth $586,438,000 after buying an additional 265,558 shares in the last quarter. Lazard Asset Management LLC boosted its stake in shares of PTC by 31.4% in the 2nd quarter. Lazard Asset Management LLC now owns 1,547,622 shares of the technology company’s stock worth $266,715,000 after buying an additional 370,097 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of PTC by 27.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,517,480 shares of the technology company’s stock worth $235,134,000 after buying an additional 327,326 shares during the last quarter. Institutional investors own 95.14% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Kristian Talvitie sold 50,291 shares of PTC stock in a transaction on Tuesday, December 9th. The stock was sold at an average price of $173.14, for a total value of $8,707,383.74. Following the completion of the transaction, the executive vice president directly owned 12,386 shares in the company, valued at approximately $2,144,512.04. The trade was a 80.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Staats Aaron C. Von sold 6,328 shares of the business’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $174.79, for a total value of $1,106,071.12. Following the sale, the executive vice president owned 22,461 shares in the company, valued at approximately $3,925,958.19. The trade was a 21.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 61,277 shares of company stock valued at $10,624,076 over the last ninety days. Corporate insiders own 0.29% of the company’s stock.

PTC Price Performance

Shares of NASDAQ:PTC opened at $173.57 on Friday. The company has a quick ratio of 1.43, a current ratio of 1.43 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $20.64 billion, a PE ratio of 28.27, a P/E/G ratio of 2.91 and a beta of 1.01. PTC Inc. has a twelve month low of $133.38 and a twelve month high of $219.69. The company has a 50-day moving average price of $176.60 and a two-hundred day moving average price of $192.62.

PTC (NASDAQ:PTC) last announced its quarterly earnings results on Friday, November 21st. The technology company reported $2.10 EPS for the quarter. PTC had a net margin of 27.05% and a return on equity of 23.02%. The company had revenue of $1.76 billion for the quarter. Equities analysts forecast that PTC Inc. will post 4.46 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on PTC. BMO Capital Markets dropped their price target on PTC from $231.00 to $219.00 and set an “outperform” rating on the stock in a report on Thursday, November 6th. Rosenblatt Securities lowered their target price on PTC from $227.00 to $220.00 and set a “buy” rating on the stock in a research note on Thursday, November 6th. Piper Sandler reduced their price target on shares of PTC from $200.00 to $175.00 and set a “neutral” rating for the company in a research report on Friday, November 7th. Robert W. Baird set a $255.00 price objective on shares of PTC in a research report on Wednesday, October 22nd. Finally, Zacks Research downgraded shares of PTC from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 29th. Twelve research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $205.92.

Key Headlines Impacting PTC

Here are the key news stories impacting PTC this week:

• Positive Sentiment: Analysts expect a double-digit rise in PTC’s upcoming quarter and previews highlight likely upside to EPS vs. prior quarter performance (PTC reported $2.10 EPS and healthy margins in its Nov quarter). Strong expected EPS is a near-term positive catalyst ahead of the earnings release. What to Expect From PTC Inc.’s Next Quarterly Earnings Report Barchart: Earnings Preview
• Neutral Sentiment: Multiple news items about an ISRO order and titanium manufacturing upgrades refer to “PTC Industries” (an Indian industrial supplier) — not PTC Inc. These stories may generate ticker confusion but do not reflect PTC Inc.’s business fundamentals. PTC Industries receives order from VSSC (ISRO) Swarajya: Plasma arc melting furnace at PTC’s Lucknow facility
• Neutral Sentiment: An item showing insider sales is for ticker PTCT (PTC Therapeutics), not PTC Inc.; that activity is unrelated to PTC Inc.’s management or capital structure but can cause broader ticker noise. QuiverQuant: PTCT insider sale
• Negative Sentiment: Technical/near-term factors: PTC is trading below its 50-day and well below its 200-day moving average, and intraday volume is slightly below average — this leaves the stock vulnerable to short-term profit-taking despite upbeat earnings previews. (Background trading and valuation: recent P/E ~28.3, PEG ~2.9.)

PTC Profile

PTC Inc (NASDAQ: PTC) is a global technology company that develops software and services to help manufacturers design, operate, and service physical products. Founded in 1985 as Parametric Technology Corporation, PTC pioneered parametric, feature-based CAD with its Pro/ENGINEER product (now marketed as Creo) and has since expanded its portfolio to address product lifecycle management, Internet of Things (IoT), augmented reality (AR) and industrial connectivity.

Key product lines include Creo for 3D CAD; Windchill for product lifecycle management (PLM); ThingWorx, an IoT platform for connecting devices and building industrial applications; Vuforia, an AR platform for creating immersive service and training experiences; and Kepware, a suite for industrial connectivity and protocol translation.