Assenagon Asset Management S.A. Sells 13,001 Shares of PTC Inc. $PTC

Assenagon Asset Management S.A. decreased its holdings in shares of PTC Inc. (NASDAQ:PTC) by 19.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 55,279 shares of the technology company’s stock after selling 13,001 shares during the period. Assenagon Asset Management S.A.’s holdings in PTC were worth $11,223,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Aaron Wealth Advisors LLC purchased a new stake in shares of PTC in the 3rd quarter valued at about $326,000. GAMMA Investing LLC increased its position in shares of PTC by 22.3% in the third quarter. GAMMA Investing LLC now owns 3,511 shares of the technology company’s stock worth $713,000 after purchasing an additional 641 shares during the last quarter. Corient Private Wealth LLC raised its stake in PTC by 1.7% in the second quarter. Corient Private Wealth LLC now owns 6,116 shares of the technology company’s stock valued at $1,054,000 after purchasing an additional 101 shares in the last quarter. Daventry Group LP lifted its position in PTC by 5.0% during the second quarter. Daventry Group LP now owns 247,723 shares of the technology company’s stock valued at $42,693,000 after purchasing an additional 11,879 shares during the last quarter. Finally, Orion Porfolio Solutions LLC lifted its position in PTC by 44.5% during the second quarter. Orion Porfolio Solutions LLC now owns 6,131 shares of the technology company’s stock valued at $1,057,000 after purchasing an additional 1,889 shares during the last quarter. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

PTC Stock Up 1.3%

Shares of NASDAQ:PTC opened at $178.17 on Friday. The stock has a market capitalization of $21.28 billion, a P/E ratio of 29.02, a price-to-earnings-growth ratio of 2.76 and a beta of 1.03. The stock’s 50-day moving average price is $184.31 and its 200-day moving average price is $192.21. The company has a current ratio of 1.12, a quick ratio of 1.43 and a debt-to-equity ratio of 0.31. PTC Inc. has a 12-month low of $133.38 and a 12-month high of $219.69.

PTC (NASDAQ:PTC) last released its earnings results on Friday, November 21st. The technology company reported $2.10 earnings per share for the quarter. PTC had a return on equity of 23.03% and a net margin of 27.05%.The company had revenue of $1.76 billion during the quarter. On average, equities analysts anticipate that PTC Inc. will post 4.46 earnings per share for the current year.

Insider Buying and Selling

In other PTC news, EVP Kristian Talvitie sold 50,291 shares of the stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $173.14, for a total transaction of $8,707,383.74. Following the completion of the sale, the executive vice president owned 12,386 shares of the company’s stock, valued at $2,144,512.04. This represents a 80.24% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Staats Aaron C. Von sold 6,328 shares of the stock in a transaction dated Monday, December 8th. The stock was sold at an average price of $174.79, for a total transaction of $1,106,071.12. Following the sale, the executive vice president owned 22,461 shares of the company’s stock, valued at approximately $3,925,958.19. This represents a 21.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 61,277 shares of company stock valued at $10,624,076. Insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on PTC. Rosenblatt Securities decreased their price target on shares of PTC from $227.00 to $220.00 and set a “buy” rating on the stock in a report on Thursday, November 6th. Zacks Research cut PTC from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 29th. Wall Street Zen downgraded PTC from a “strong-buy” rating to a “buy” rating in a research report on Saturday, December 6th. Robert W. Baird set a $255.00 price objective on PTC in a report on Wednesday, October 22nd. Finally, Piper Sandler reduced their price objective on PTC from $200.00 to $175.00 and set a “neutral” rating on the stock in a research report on Friday, November 7th. Twelve analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $205.92.

PTC Company 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.