Nuveen Asset Management LLC Raises Holdings in Procore Technologies, Inc. (NYSE:PCOR)

Nuveen Asset Management LLC boosted its position in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 1.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 368,268 shares of the company's stock after buying an additional 4,831 shares during the period. Nuveen Asset Management LLC owned approximately 0.25% of Procore Technologies worth $27,594,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Procore Technologies by 7.6% in the 4th quarter. Vanguard Group Inc. now owns 11,900,337 shares of the company's stock valued at $891,692,000 after acquiring an additional 838,925 shares during the period. Capital World Investors increased its holdings in shares of Procore Technologies by 453.6% in the 4th quarter. Capital World Investors now owns 3,118,962 shares of the company's stock valued at $233,704,000 after acquiring an additional 2,555,612 shares during the period. Principal Financial Group Inc. boosted its stake in Procore Technologies by 29,376.1% in the fourth quarter. Principal Financial Group Inc. now owns 2,679,964 shares of the company's stock valued at $200,810,000 after acquiring an additional 2,670,872 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Procore Technologies by 14.0% in the fourth quarter. Janus Henderson Group PLC now owns 2,627,408 shares of the company's stock valued at $196,873,000 after acquiring an additional 322,367 shares in the last quarter. Finally, FIL Ltd boosted its stake in Procore Technologies by 4.0% in the fourth quarter. FIL Ltd now owns 2,171,975 shares of the company's stock valued at $162,746,000 after acquiring an additional 84,216 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors.

Insider Activity at Procore Technologies

In other Procore Technologies news, CFO Howard Fu sold 797 shares of the stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $68.99, for a total value of $54,985.03. Following the completion of the transaction, the chief financial officer now directly owns 199,067 shares of the company's stock, valued at approximately $13,733,632.33. This trade represents a 0.40% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kathryn Bueker sold 7,000 shares of the stock in a transaction dated Tuesday, May 13th. The shares were sold at an average price of $72.43, for a total transaction of $507,010.00. Following the completion of the transaction, the director now directly owns 16,932 shares of the company's stock, valued at approximately $1,226,384.76. This trade represents a 29.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 46,623 shares of company stock worth $3,144,659 over the last 90 days. Company insiders own 29.00% of the company's stock.

Procore Technologies Trading Down 0.4%

NYSE:PCOR traded down $0.25 during trading hours on Wednesday, reaching $67.94. 59,744 shares of the stock were exchanged, compared to its average volume of 1,708,793. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03. The business has a 50-day moving average of $64.83 and a two-hundred day moving average of $72.67. Procore Technologies, Inc. has a twelve month low of $49.46 and a twelve month high of $88.92. The company has a market capitalization of $10.13 billion, a price-to-earnings ratio of -94.35 and a beta of 0.90.

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

Analysts Set New Price Targets

Several equities research analysts have weighed in on PCOR shares. Stifel Nicolaus lowered their target price on shares of Procore Technologies from $93.00 to $75.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Mizuho lowered their target price on shares of Procore Technologies from $75.00 to $65.00 and set a "neutral" rating for the company in a research note on Tuesday, April 15th. Canaccord Genuity Group raised their price target on shares of Procore Technologies from $83.00 to $97.00 and gave the stock a "buy" rating in a report on Friday, February 14th. Barclays raised their price target on shares of Procore Technologies from $70.00 to $72.00 and gave the stock an "equal weight" rating in a report on Friday, May 2nd. Finally, UBS Group decreased their price target on shares of Procore Technologies from $110.00 to $87.00 and set a "buy" rating for the company in a report on Thursday, April 24th. 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. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $80.24.

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.