Nuveen Asset Management LLC Has $27.59 Million Stake in Procore Technologies, Inc. (NYSE:PCOR)

Nuveen Asset Management LLC boosted its holdings in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 1.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 368,268 shares of the company's stock after purchasing an additional 4,831 shares during the quarter. Nuveen Asset Management LLC owned about 0.25% of Procore Technologies worth $27,594,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Old Well Partners LLC bought a new stake in Procore Technologies during the 4th quarter valued at approximately $3,634,000. Lazard Asset Management LLC boosted its stake in Procore Technologies by 45.1% during the 4th quarter. Lazard Asset Management LLC now owns 15,141 shares of the company's stock valued at $1,134,000 after purchasing an additional 4,704 shares during the period. Janus Henderson Group PLC lifted its position in shares of Procore Technologies by 14.0% in the 4th quarter. Janus Henderson Group PLC now owns 2,627,408 shares of the company's stock worth $196,873,000 after acquiring an additional 322,367 shares during the period. Jefferies Financial Group Inc. bought a new stake in shares of Procore Technologies in the 4th quarter worth approximately $11,268,000. Finally, Gotham Asset Management LLC lifted its position in shares of Procore Technologies by 52.9% in the 4th quarter. Gotham Asset Management LLC now owns 99,066 shares of the company's stock worth $7,423,000 after acquiring an additional 34,260 shares during the period. Institutional investors own 81.10% of the company's stock.

Wall Street Analyst Weigh In

PCOR has been the subject of a number of research reports. Piper Sandler reduced their price objective on Procore Technologies from $110.00 to $75.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. JMP Securities raised their price objective on Procore Technologies from $90.00 to $95.00 and gave the stock a "market outperform" rating in a research report on Tuesday, February 18th. Mizuho reduced their price objective on Procore Technologies from $75.00 to $65.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. Macquarie reduced their price objective on Procore Technologies from $93.00 to $75.00 and set a "neutral" rating for the company in a research report on Thursday, March 13th. Finally, BMO Capital Markets reduced their price objective on Procore Technologies from $95.00 to $75.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $80.24.

Insider Activity at Procore Technologies

In other news, CRO Lawrence Joseph Stack sold 1,000 shares of Procore Technologies stock in a transaction on Friday, May 9th. The stock was sold at an average price of $65.60, for a total value of $65,600.00. Following the completion of the sale, the executive now directly owns 217,868 shares of the company's stock, valued at approximately $14,292,140.80. This trade represents a 0.46% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Benjamin C. Singer sold 4,203 shares of Procore Technologies stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $68.91, for a total value of $289,628.73. Following the completion of the sale, the insider now directly owns 102,057 shares of the company's stock, valued at $7,032,747.87. This trade represents a 3.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 46,623 shares of company stock valued at $3,144,659 in the last three months. Corporate insiders own 29.00% of the company's stock.

Procore Technologies Trading Up 0.5%

PCOR stock opened at $67.61 on Friday. The business has a fifty day moving average price of $64.93 and a 200 day moving average price of $72.70. Procore Technologies, Inc. has a fifty-two week low of $49.46 and a fifty-two week high of $88.92. The stock has a market capitalization of $10.09 billion, a price-to-earnings ratio of -93.91 and a beta of 0.90. 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 released its quarterly 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 firm had revenue of $310.63 million during the quarter, compared to analysts' expectations of $302.66 million. During the same period last year, the firm posted $0.30 EPS. The business's revenue was up 15.3% on a year-over-year basis. Analysts expect that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.

Procore Technologies Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.