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

Allstate Corp purchased a new position in shares of PTC Inc. (NASDAQ:PTC) in the 3rd quarter, HoldingsChannel.com reports. The firm purchased 4,719 shares of the technology company’s stock, valued at approximately $958,000.

A number of other institutional investors have also modified their holdings of the company. Daiwa Securities Group Inc. increased its stake in PTC by 13.4% during the second 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 during the period. O ROURKE & COMPANY Inc acquired a new position in shares of PTC in the second quarter valued at approximately $258,000. Nisa Investment Advisors LLC increased its stake in 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 buying an additional 7,546 shares during the period. ARK Investment Management LLC increased its stake in PTC by 18.5% during the 2nd quarter. ARK Investment Management LLC now owns 19,024 shares of the technology company’s stock worth $3,279,000 after buying an additional 2,965 shares during the period. Finally, Nordea Investment Management AB lifted its holdings in PTC by 2,075.2% during the 3rd quarter. Nordea Investment Management AB now owns 213,911 shares of the technology company’s stock worth $43,420,000 after buying an additional 204,077 shares in the last quarter. 95.14% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have commented on PTC. Rosenblatt Securities dropped their price target on shares of PTC from $227.00 to $220.00 and set a “buy” rating for the company in a research note on Thursday, November 6th. Wall Street Zen raised PTC from a “buy” rating to a “strong-buy” rating in a research note on Saturday, January 3rd. Robert W. Baird set a $255.00 price target on PTC in a report on Wednesday, October 22nd. Weiss Ratings cut PTC from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, January 12th. Finally, Piper Sandler lowered their price objective on PTC from $200.00 to $175.00 and set a “neutral” rating for the company in a research report on Friday, November 7th. Eleven research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $205.92.

Insider Transactions at PTC

In other news, EVP Staats Aaron C. Von sold 6,328 shares of the business’s stock in a transaction dated Monday, December 8th. The stock was 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 directly owned 22,461 shares of the company’s stock, valued at approximately $3,925,958.19. The trade was a 21.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Kristian Talvitie sold 50,291 shares of the company’s stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $173.14, for a total value of $8,707,383.74. Following the completion of the sale, the executive vice president directly owned 12,386 shares of the company’s stock, valued at approximately $2,144,512.04. This trade represents a 80.24% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 61,277 shares of company stock worth $10,624,076 in the last quarter. Insiders own 0.29% of the company’s stock.

PTC Stock Up 0.1%

Shares of NASDAQ:PTC opened at $161.32 on Thursday. The firm has a 50 day simple moving average of $173.42 and a 200-day simple moving average of $192.49. PTC Inc. has a twelve month low of $133.38 and a twelve month high of $219.69. The company has a current ratio of 1.43, a quick ratio of 1.43 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $19.18 billion, a PE ratio of 26.27, a P/E/G ratio of 2.69 and a beta of 1.01.

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

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.