PTC EVP Sells $276k in Stock

An article on The Enterprise Leader reported on 3,278 shares of AREA member PTC’s company being sold. It was sold by Executive Vice President Anthony Dibona for a total value of $276,499.30, at an average price of $84.35. Dibona now directly owns 3,181 shares in the company after the transaction, which is valued at $2,798,817.35. A filing with the Securities & Exchange Commission disclosed the sale.

PTC last released its earnings on 18th April 2018, reporting $0.34 earnings per share (EPS) for the first quarter, overtaking the consensus estimate of $0.31. The company had a return on equity of 10.04% and a net margin of 3.16%. PTC’s revenue for the quarter also overtook the consensus estimate, with $307.88 million. Last year, the firm earned $0.30 EPS in the same period. Analysts expect that PTC will post 0.83 EPS for the current fiscal year.

Zacks Investment Research issued a research report on PTC, raising them from a “hold” to a “strong-buy” rating and setting a $96.00 price target on the stock. Berenberg Bank also upped their price target on PTC to $100.00 and gave the stock a “buy” rating in their research report. Barclays increased their price target on PTC from $86.00 to $88.00 and gave the stock an “overweight” rating. KeyCorp raised their price target on PTC from $92.00 to $94.00 and also gave the stock an “overweight” rating. Finally, Robert W. Baird reaffirmed an “in-line” rating and increased PTC’s price target from $83.00 to $95.00 in their research report. PTC now has an average rating of “buy” and a consensus target price of $80.25.

Other institutional investors and several hedge funds have increased or reduced their stakes in PTC’s stock:

  • Xact Kapitalforvaltning AB acquired a new position in fourth quarter PTC shares valued at $574,000.
  • Pennant Capital Management LLC increased its PTC position in the fourth quarter by 57.9% and now owns 658,587 shares of their stock valued at $40,022,000.
  • MetLife Investment Advisors LLC acquired a new PTC stake in quarter four worth approximately $4,445,000.
  • Gotham Asset Management LLC acquired a new PTC stake in quarter four worth approximately $1,067,000.
  • Pacific Grove Capital LP increased its PTC position in the fourth quarter by 43.8% and now owns 115,000 shares of their stock worth $6,989,000.

 

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