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

GraniteShares Advisors LLC trimmed its holdings in shares of PTC Inc. (NASDAQ:PTC) by 23.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,623 shares of the technology company’s stock after selling 800 shares during the quarter. GraniteShares Advisors LLC’s holdings in PTC were worth $482,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Covestor Ltd grew its stake in PTC by 70.8% during the 3rd quarter. Covestor Ltd now owns 193 shares of the technology company’s stock valued at $35,000 after purchasing an additional 80 shares during the last quarter. Allworth Financial LP grew its stake in PTC by 58.0% during the 4th quarter. Allworth Financial LP now owns 188 shares of the technology company’s stock valued at $35,000 after purchasing an additional 69 shares during the last quarter. Brooklyn Investment Group purchased a new stake in PTC during the 3rd quarter valued at about $66,000. Sentry Investment Management LLC purchased a new stake in PTC during the 4th quarter valued at about $84,000. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in PTC during the 3rd quarter valued at about $152,000. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Kristian Talvitie sold 10,306 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $199.34, for a total value of $2,054,398.04. Following the completion of the sale, the chief financial officer now owns 57,134 shares of the company’s stock, valued at approximately $11,389,091.56. This trade represents a 15.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Staats Aaron C. Von sold 5,373 shares of the stock in a transaction that occurred on Monday, December 9th. The shares were sold at an average price of $200.13, for a total value of $1,075,298.49. Following the completion of the sale, the executive vice president now directly owns 21,707 shares of the company’s stock, valued at approximately $4,344,221.91. This represents a 19.84 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.

PTC Stock Performance

NASDAQ PTC opened at $162.72 on Wednesday. The stock has a market capitalization of $19.58 billion, a price-to-earnings ratio of 50.22, a PEG ratio of 2.27 and a beta of 1.19. PTC Inc. has a twelve month low of $160.53 and a twelve month high of $203.09. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 0.32. The stock has a 50-day moving average of $181.46 and a 200 day moving average of $183.22.

PTC (NASDAQ:PTC) last released its earnings results on Wednesday, February 5th. The technology company reported $0.79 earnings per share for the quarter, missing the consensus estimate of $0.91 by ($0.12). PTC had a net margin of 16.95% and a return on equity of 14.49%. Sell-side analysts anticipate that PTC Inc. will post 4.46 EPS for the current fiscal year.

Analysts Set New Price Targets

PTC has been the subject of several analyst reports. Citigroup decreased their price objective on PTC from $200.00 to $195.00 and set a “neutral” rating for the company in a report on Wednesday, February 5th. KeyCorp boosted their price objective on PTC from $205.00 to $211.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. Robert W. Baird boosted their price objective on PTC from $226.00 to $228.00 and gave the company an “outperform” rating in a report on Thursday, November 7th. Stifel Nicolaus boosted their price objective on PTC from $200.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Finally, Rosenblatt Securities reissued a “buy” rating and issued a $204.00 price objective on shares of PTC in a report on Tuesday, February 4th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $210.09.

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.