Allstate Corp Acquires Shares of 4,719 PTC Inc. $PTC

Allstate Corp acquired a new stake in PTC Inc. (NASDAQ:PTC) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 4,719 shares of the technology company’s stock, valued at approximately $958,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SJS Investment Consulting Inc. lifted its holdings in PTC by 2,257.1% in the third quarter. SJS Investment Consulting Inc. now owns 165 shares of the technology company’s stock valued at $34,000 after acquiring an additional 158 shares during the period. Versant Capital Management Inc lifted its stake in shares of PTC by 37.6% in the 3rd quarter. Versant Capital Management Inc now owns 194 shares of the technology company’s stock valued at $39,000 after purchasing an additional 53 shares during the period. Assetmark Inc. boosted its holdings in PTC by 339.3% during the second quarter. Assetmark Inc. now owns 268 shares of the technology company’s stock worth $46,000 after buying an additional 207 shares in the last quarter. Geneos Wealth Management Inc. grew its position in PTC by 34.4% during the first quarter. Geneos Wealth Management Inc. now owns 297 shares of the technology company’s stock valued at $46,000 after buying an additional 76 shares during the period. Finally, CYBER HORNET ETFs LLC purchased a new position in shares of PTC in the 2nd quarter valued at about $53,000. 95.14% of the stock is owned by institutional investors and hedge funds.

PTC Stock Performance

Shares of PTC stock opened at $161.32 on Thursday. The business’s 50 day moving average price is $173.42 and its 200 day moving average price is $192.49. The company has a market cap of $19.18 billion, a price-to-earnings ratio of 26.27, a PEG ratio of 2.69 and a beta of 1.01. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.43 and a current ratio of 1.43. PTC Inc. has a one year low of $133.38 and a one year high of $219.69.

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

Analyst Upgrades and Downgrades

PTC has been the topic of several recent analyst reports. Zacks Research downgraded shares of PTC from a “strong-buy” rating to a “hold” rating in a report on Monday, September 29th. Weiss Ratings lowered shares of PTC from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, January 12th. Piper Sandler lowered their price objective on PTC from $200.00 to $175.00 and set a “neutral” rating on the stock in a report on Friday, November 7th. Robert W. Baird set a $255.00 price objective on PTC in a research note on Wednesday, October 22nd. Finally, Wall Street Zen upgraded PTC from a “buy” rating to a “strong-buy” rating in a research report on Saturday, January 3rd. Eleven analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $205.92.

Insider Activity

In other news, EVP Staats Aaron C. Von sold 6,328 shares of the stock in a transaction that occurred 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 completion of the sale, the executive vice president owned 22,461 shares of the company’s stock, valued at $3,925,958.19. This represents a 21.98% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Kristian Talvitie sold 50,291 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $173.14, for a total transaction of $8,707,383.74. Following 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 disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 61,277 shares of company stock valued at $10,624,076. 0.29% of the stock is owned by company insiders.

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.