Exchange Traded Concepts Reduces Stake in Tech Firm PTC Inc.

Exchange Traded Concepts LLC, an investment management firm, has decreased its investment in PTC Inc., a well-known technology company, by 12.7% during the third quarter. After the sale of 20,156 shares, the firm's ownership stands at 138,331 shares. The valuation of these shares was recorded at $19.6 million in the latest SEC filings.

Hedge Funds Adjust PTC Holdings

Several hedge funds have recently changed their positions in PTC Inc. O Shaughnessy Asset Management LLC increased its stake by 6.5% in the second quarter, now owning 3,476 shares. Epoch Investment Partners Inc. made a significant increase of 57.9% in their shareholding during the first quarter. Meanwhile, Insight Holdings Group LLC acquired a new position in PTC valued at around $8.55 million. Sumitomo Mitsui DS Asset Management Company Ltd and Oregon Public Employees Retirement Fund also increased their investments in PTC, bolstering their confidence in the company's prospects.

PTC Shares Experience Uplift

With a positive nudge, PTC Inc.'s share prices have gone up by 1.6%. The company's market capitalization hovers around $20.74 billion, reflecting its substantial presence in the tech sector. PTC’s shares hit a 1-year high of $174.06, showcasing their growth potential despite some fluctuations in the market.

Performance and Analyses

PTC's quarterly financials saw a slight dip with reported earnings per share (EPS) missing the mark by $0.08. This was complemented by a net margin of 11.71% and a return on equity standing at 13.57%. Looking forward, analysts have a 'Moderate Buy' consensus on the stock, with target price adjustments reflecting their optimistic outlook for the company.

Transactions by Insiders

Notably, insider activity has been observed with sales made by key personnel in the company. These transactions, disclosed in legal filings, keep the market informed about the insider sentiment towards the company's stock and their personal stake in PTC's future.

About PTC Inc.

PTC Inc.'s software offerings span across various functionalities, including product lifecycle management (PLM) and solutions for the Industrial Internet of Things (IIoT). Their products continue to enable and transform the technology landscapes of numerous industries globally.

investment, technology, business