Granite Investment Partners LLC Sells 38,365 Shares of PTC Inc. (NASDAQ:PTC)

Granite Investment Partners LLC reduced its position in shares of PTC Inc. (NASDAQ:PTC) by 65.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 19,868 shares of the technology company’s stock after selling 38,365 shares during the period. Granite Investment Partners LLC’s holdings in PTC were worth $3,653,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd bought a new position in PTC in the 4th quarter valued at $30,000. Allworth Financial LP grew its position in PTC by 58.0% during the fourth quarter. Allworth Financial LP now owns 188 shares of the technology company’s stock valued at $35,000 after buying an additional 69 shares during the period. Assetmark Inc. increased its holdings in PTC by 825.0% during the fourth quarter. Assetmark Inc. now owns 333 shares of the technology company’s stock worth $61,000 after buying an additional 297 shares during the last quarter. New Age Alpha Advisors LLC bought a new stake in PTC in the fourth quarter worth about $77,000. Finally, Smartleaf Asset Management LLC boosted its stake in PTC by 83.0% in the fourth quarter. Smartleaf Asset Management LLC now owns 452 shares of the technology company’s stock valued at $83,000 after acquiring an additional 205 shares during the last quarter. 95.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PTC. Citigroup decreased their price target on shares of PTC from $200.00 to $195.00 and set a “neutral” rating for the company in a research note on Wednesday, February 5th. KeyCorp raised their target price on PTC from $205.00 to $211.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Rosenblatt Securities reaffirmed a “buy” rating and set a $204.00 price target on shares of PTC in a research report on Tuesday, February 4th. Stifel Nicolaus boosted their price objective on PTC from $200.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Finally, StockNews.com lowered shares of PTC from a “buy” rating to a “hold” rating in a research report on Monday, March 17th. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $204.60.

PTC Price Performance

Shares of NASDAQ:PTC opened at $145.32 on Monday. The company has a 50 day moving average of $159.47 and a 200 day moving average of $178.55. 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 market cap of $17.49 billion, a P/E ratio of 44.85, a P/E/G ratio of 2.27 and a beta of 1.17. PTC Inc. has a 12 month low of $133.38 and a 12 month high of $203.09.

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

Insiders Place Their Bets

In other news, Director Corinna Lathan sold 622 shares of the firm’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $155.53, for a total transaction of $96,739.66. Following the sale, the director now owns 7,604 shares in the company, valued at approximately $1,182,650.12. This trade represents a 7.56 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.32% 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.