Lazard Asset Management LLC Buys 4,704 Shares of Procore Technologies, Inc. (NYSE:PCOR)

Lazard Asset Management LLC boosted its position in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 45.1% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,141 shares of the company's stock after acquiring an additional 4,704 shares during the period. Lazard Asset Management LLC's holdings in Procore Technologies were worth $1,134,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PCOR. Parkside Financial Bank & Trust lifted its holdings in shares of Procore Technologies by 61.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 387 shares of the company's stock valued at $29,000 after purchasing an additional 147 shares in the last quarter. V Square Quantitative Management LLC boosted its stake in shares of Procore Technologies by 37.8% in the 4th quarter. V Square Quantitative Management LLC now owns 591 shares of the company's stock worth $44,000 after buying an additional 162 shares during the last quarter. Huntington National Bank grew its stake in Procore Technologies by 161.6% during the fourth quarter. Huntington National Bank now owns 654 shares of the company's stock valued at $49,000 after acquiring an additional 404 shares in the last quarter. Skandinaviska Enskilda Banken AB publ boosted its position in Procore Technologies by 1,434.0% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 721 shares of the company's stock valued at $54,000 after buying an additional 674 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Procore Technologies in the fourth quarter worth $56,000. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Procore Technologies Price Performance

NYSE PCOR traded down $0.37 on Friday, reaching $67.30. 1,188,732 shares of the company's stock traded hands, compared to its average volume of 1,718,696. The stock has a market cap of $10.04 billion, a PE ratio of -93.47 and a beta of 0.90. Procore Technologies, Inc. has a 12 month low of $49.46 and a 12 month high of $88.92. The stock has a 50-day simple moving average of $64.91 and a 200 day simple moving average of $72.72. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57.

Procore Technologies (NYSE:PCOR - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported $0.23 earnings per share for the quarter, beating analysts' consensus estimates of $0.17 by $0.06. Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. The company had revenue of $310.63 million for the quarter, compared to the consensus estimate of $302.66 million. During the same quarter in the prior year, the company earned $0.30 EPS. The firm's quarterly revenue was up 15.3% on a year-over-year basis. As a group, research analysts predict that Procore Technologies, Inc. will post -0.15 earnings per share for the current year.

Analyst Ratings Changes

PCOR has been the topic of several research analyst reports. Canaccord Genuity Group raised their price objective on Procore Technologies from $83.00 to $97.00 and gave the stock a "buy" rating in a research note on Friday, February 14th. KeyCorp reduced their target price on Procore Technologies from $96.00 to $77.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Barclays lifted their price target on Procore Technologies from $70.00 to $72.00 and gave the company an "equal weight" rating in a research report on Friday, May 2nd. Scotiabank dropped their price objective on shares of Procore Technologies from $95.00 to $75.00 and set a "sector outperform" rating for the company in a report on Thursday, April 24th. Finally, DA Davidson raised shares of Procore Technologies to a "hold" rating in a research note on Tuesday, May 13th. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $80.24.

Insiders Place Their Bets

In other news, Director Connor Kevin J. O sold 7,700 shares of the firm's stock in a transaction dated Wednesday, April 9th. The shares were sold at an average price of $56.67, for a total transaction of $436,359.00. Following the sale, the director now owns 1,208,284 shares of the company's stock, valued at $68,473,454.28. This trade represents a 0.63% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Howard Fu sold 1,190 shares of the business's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $67.00, for a total transaction of $79,730.00. Following the sale, the chief financial officer now directly owns 146,160 shares of the company's stock, valued at $9,792,720. This represents a 0.81% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 46,623 shares of company stock worth $3,144,659. Company insiders own 29.00% of the company's stock.

About Procore Technologies

Procore Technologies, Inc engages in the provision of a cloud-based construction management platform and related software products in the United States and internationally. The company's platform enables owners, general and specialty contractors, architects, and engineers to collaborate on construction projects.