Aaron C. Von Staats, Executive Vice President, General Counsel and Secretary of PTC Inc. (NASDAQ:), recently sold shares in the company valued at approximately $1.08 million. The transactions, executed on December 9, 2024, involved the sale of 5,373 shares of common stock at prices ranging from $199.59 to $201.605 per share. Following these sales, Von Staats holds 21,707 shares of PTC Inc. The sale comes as PTC trades near its 52-week high of $202.80, with a market capitalization of $23.8 billion. According to InvestingPro analysis, the stock appears to be trading above its Fair Value with a P/E ratio of 63.4.
The sales were conducted under a pre-established 10b5-1 trading plan initiated on August 8, 2024. This plan allows executives to set up a trading schedule for selling stocks to avoid any potential conflicts of interest. For deeper insights into insider transactions and over 17 key financial metrics, including PTC’s comprehensive Pro Research Report, consider subscribing to InvestingPro.
In other recent news, PTC, a software company with a market cap of $24 billion, has reported several key developments. The company has announced a collaboration with Microsoft (NASDAQ:) and Volkswagen (ETR:) Group to enhance software development in manufacturing with a tool named Codebeamer Copilot. The tool aims to improve the efficiency of creating and managing product requirements. This follows PTC’s robust performance for the fiscal year 2024, with a 25% increase in free cash flow reaching $736 million, and a 12% increase in Annual Recurring Revenue (ARR) hitting $2.207 billion. PTC also announced a $2 billion share repurchase authorization.
Furthermore, PTC has announced the resignation of board member Janesh Moorjani due to personal reasons, with no immediate plans for a replacement. The company is also making strategic shifts, focusing on five key areas: PLM, ALM, SLM (NASDAQ:), CAD, and SaaS, and is in the process of hiring a new Chief Revenue Officer. For fiscal 2025, PTC projects a 9% to 10% ARR growth and free cash flow between $835 million and $850 million. These are the recent developments in PTC’s business operations.
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