Laurus Global Equity Management Inc. Has $16.95 Million Stock Holdings in PTC Inc. $PTC

Laurus Global Equity Management Inc. cut its position in PTC Inc. (NASDAQ:PTC) by 16.4% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 83,486 shares of the technology company’s stock after selling 16,379 shares during the quarter. PTC comprises 11.6% of Laurus Global Equity Management Inc.’s holdings, making the stock its biggest position. Laurus Global Equity Management Inc. owned approximately 0.07% of PTC worth $16,949,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PTC. Daiwa Securities Group Inc. raised its holdings in shares of PTC by 13.4% in the 2nd quarter. Daiwa Securities Group Inc. now owns 74,128 shares of the technology company’s stock worth $12,775,000 after purchasing an additional 8,786 shares in the last quarter. O ROURKE & COMPANY Inc bought a new stake in shares of PTC during the 2nd quarter worth $258,000. Nisa Investment Advisors LLC boosted its stake in shares of PTC by 35.7% during the 2nd quarter. Nisa Investment Advisors LLC now owns 28,678 shares of the technology company’s stock worth $4,942,000 after acquiring an additional 7,546 shares in the last quarter. ARK Investment Management LLC raised its position in shares of PTC by 18.5% during the second quarter. ARK Investment Management LLC now owns 19,024 shares of the technology company’s stock worth $3,279,000 after purchasing an additional 2,965 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in shares of PTC by 2,075.2% during the third quarter. Nordea Investment Management AB now owns 213,911 shares of the technology company’s stock valued at $43,420,000 after purchasing an additional 204,077 shares during the last quarter. Institutional investors own 95.14% of the company’s stock.

Insiders Place Their Bets

In other PTC news, EVP Staats Aaron C. Von sold 6,328 shares of the company’s stock in a transaction dated Monday, December 8th. The shares were sold at an average price of $174.79, for a total transaction of $1,106,071.12. Following the completion of the sale, the executive vice president directly owned 22,461 shares in the company, valued at $3,925,958.19. This represents a 21.98% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kristian Talvitie sold 50,291 shares of PTC stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $173.14, for a total value of $8,707,383.74. Following the completion of the transaction, the executive vice president owned 12,386 shares in the company, valued at $2,144,512.04. The trade was a 80.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 61,277 shares of company stock valued at $10,624,076. Company insiders own 0.29% of the company’s stock.

PTC Trading Down 1.7%

Shares of NASDAQ PTC opened at $161.91 on Thursday. The stock has a market cap of $19.25 billion, a price-to-earnings ratio of 26.37, a PEG ratio of 2.74 and a beta of 1.01. The business has a 50 day simple moving average of $172.34 and a 200 day simple moving average of $191.56. 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 52 week low of $133.38 and a 52 week high of $219.69.

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Oppenheimer cut their price objective on PTC from $240.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday. Wall Street Zen upgraded shares of PTC from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 3rd. Rosenblatt Securities reaffirmed a “buy” rating and issued a $220.00 price objective on shares of PTC in a research note on Tuesday. Robert W. Baird set a $255.00 target price on PTC in a report on Wednesday, October 22nd. Finally, Citigroup reduced their price objective on PTC from $185.00 to $181.00 and set a “neutral” rating for the company in a research note on Wednesday. Eleven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $201.77.

About PTC

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.