ARK Investment Management LLC Has $4.26 Million Stake in PTC Inc. (NASDAQ:PTC)

ARK Investment Management LLC lowered its holdings in PTC Inc. (NASDAQ:PTC) by 14.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 23,435 shares of the technology company’s stock after selling 4,019 shares during the quarter. ARK Investment Management LLC’s holdings in PTC were worth $4,257,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. International Assets Investment Management LLC grew its holdings in shares of PTC by 9,600.0% during the fourth quarter. International Assets Investment Management LLC now owns 28,518 shares of the technology company’s stock worth $4,990,000 after purchasing an additional 28,224 shares during the last quarter. Cerity Partners LLC acquired a new stake in PTC in the fourth quarter worth about $267,000. Lindbrook Capital LLC boosted its stake in shares of PTC by 108.3% in the 4th quarter. Lindbrook Capital LLC now owns 175 shares of the technology company’s stock valued at $31,000 after purchasing an additional 91 shares during the last quarter. CWM LLC raised its stake in shares of PTC by 12.0% during the fourth quarter. CWM LLC now owns 1,294 shares of the technology company’s stock worth $226,000 after buying an additional 139 shares during the last quarter. Finally, GAMMA Investing LLC bought a new position in PTC in the fourth quarter valued at approximately $124,000. Institutional investors own 95.14% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PTC. Robert W. Baird raised their price target on PTC from $210.00 to $216.00 and gave the stock an “outperform” rating in a research report on Thursday, May 2nd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $202.00 price target on shares of PTC in a research note on Thursday, August 1st. Citigroup reduced their price objective on shares of PTC from $195.00 to $187.00 and set a “neutral” rating on the stock in a research note on Thursday, May 2nd. Rosenblatt Securities increased their target price on shares of PTC from $190.00 to $195.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Piper Sandler lifted their price target on shares of PTC from $177.00 to $182.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $200.18.

PTC Stock Performance

PTC stock traded down $1.04 during trading hours on Tuesday, hitting $174.91. 194,725 shares of the stock were exchanged, compared to its average volume of 816,454. The company has a 50-day simple moving average of $176.81 and a two-hundred day simple moving average of $179.61. The firm has a market capitalization of $20.94 billion, a P/E ratio of 73.62, a P/E/G ratio of 3.23 and a beta of 1.18. PTC Inc. has a 12 month low of $134.61 and a 12 month high of $194.24. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.43.

Insiders Place Their Bets

In other news, EVP Staats Aaron C. Von sold 1,000 shares of the company’s stock in a transaction on Tuesday, August 6th. The stock was sold at an average price of $170.00, for a total transaction of $170,000.00. Following the completion of the sale, the executive vice president now directly owns 13,902 shares in the company, valued at approximately $2,363,340. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, EVP Staats Aaron C. Von sold 1,000 shares of the stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $170.00, for a total value of $170,000.00. Following the completion of the transaction, the executive vice president now owns 13,902 shares of the company’s stock, valued at $2,363,340. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert Schechter sold 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, August 6th. The shares were sold at an average price of $171.73, for a total transaction of $858,650.00. Following the completion of the sale, the director now owns 59,616 shares in the company, valued at approximately $10,237,855.68. The disclosure for this sale can be found here. Insiders have sold a total of 19,254 shares of company stock worth $3,361,636 in the last quarter. Corporate insiders own 1.17% of the company’s stock.

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.