Procore Technologies, Inc. (NYSE:PCOR) Shares Purchased by Lazard Asset Management LLC

Lazard Asset Management LLC boosted its holdings in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 45.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 15,141 shares of the company's stock after acquiring an additional 4,704 shares during the quarter. Lazard Asset Management LLC's holdings in Procore Technologies were worth $1,134,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PCOR. US Bancorp DE boosted its position in shares of Procore Technologies by 18.8% during the fourth quarter. US Bancorp DE now owns 21,416 shares of the company's stock worth $1,605,000 after buying an additional 3,390 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Procore Technologies during the fourth quarter worth $20,729,000. Barclays PLC boosted its position in shares of Procore Technologies by 49.1% during the third quarter. Barclays PLC now owns 69,012 shares of the company's stock worth $4,259,000 after buying an additional 22,734 shares during the period. SBI Securities Co. Ltd. purchased a new position in shares of Procore Technologies during the fourth quarter worth $56,000. Finally, KBC Group NV boosted its position in shares of Procore Technologies by 1,550.7% during the fourth quarter. KBC Group NV now owns 44,933 shares of the company's stock worth $3,367,000 after buying an additional 42,211 shares during the period. Institutional investors and hedge funds own 81.10% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently commented on PCOR. Barclays raised their price target on Procore Technologies from $70.00 to $72.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. Stifel Nicolaus decreased their target price on Procore Technologies from $93.00 to $75.00 and set a "buy" rating for the company in a report on Friday, May 2nd. UBS Group decreased their target price on Procore Technologies from $110.00 to $87.00 and set a "buy" rating for the company in a report on Thursday, April 24th. BMO Capital Markets decreased their target price on Procore Technologies from $95.00 to $75.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. Finally, Piper Sandler decreased their target price on Procore Technologies from $110.00 to $75.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $80.24.

Insider Transactions at Procore Technologies

In other news, insider Benjamin C. Singer sold 4,203 shares of Procore Technologies stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $68.91, for a total transaction of $289,628.73. Following the sale, the insider now owns 102,057 shares in the company, valued at approximately $7,032,747.87. The trade was a 3.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Howard Fu sold 797 shares of Procore Technologies stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $68.99, for a total value of $54,985.03. Following the sale, the chief financial officer now owns 199,067 shares in the company, valued at $13,733,632.33. This trade represents a 0.40% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 65,560 shares of company stock worth $4,719,632. Corporate insiders own 29.00% of the company's stock.

Procore Technologies Stock Up 0.5%

NYSE PCOR traded up $0.30 during trading on Thursday, reaching $67.61. 958,936 shares of the company's stock were exchanged, compared to its average volume of 1,716,268. The stock has a market cap of $10.09 billion, a P/E ratio of -93.91 and a beta of 0.90. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57. The company has a 50 day moving average price of $64.98 and a two-hundred day moving average price of $72.69. Procore Technologies, Inc. has a 1 year low of $49.46 and a 1 year high of $88.92.

Procore Technologies (NYSE:PCOR - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported $0.23 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to the consensus estimate of $302.66 million. During the same period in the previous year, the business earned $0.30 EPS. Procore Technologies's revenue for the quarter was up 15.3% on a year-over-year basis. On average, equities research analysts anticipate that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.

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.