Allspring Global Investments Holdings LLC Acquires 275,071 Shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT)

Allspring Global Investments Holdings LLC lifted its position in shares of PROCEPT BioRobotics Co. (NASDAQ:PRCT - Free Report) by 218.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 401,210 shares of the company's stock after acquiring an additional 275,071 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.77% of PROCEPT BioRobotics worth $33,350,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Matisse Capital increased its position in PROCEPT BioRobotics by 112.9% during the 4th quarter. Matisse Capital now owns 22,285 shares of the company's stock worth $1,794,000 after purchasing an additional 11,817 shares in the last quarter. Chicago Capital LLC increased its position in PROCEPT BioRobotics by 44.5% during the 4th quarter. Chicago Capital LLC now owns 379,582 shares of the company's stock worth $30,564,000 after purchasing an additional 116,931 shares in the last quarter. KBC Group NV increased its position in PROCEPT BioRobotics by 46.0% during the 4th quarter. KBC Group NV now owns 2,236 shares of the company's stock worth $180,000 after purchasing an additional 705 shares in the last quarter. Raleigh Capital Management Inc. acquired a new position in PROCEPT BioRobotics during the 4th quarter worth approximately $32,000. Finally, SG Americas Securities LLC increased its position in PROCEPT BioRobotics by 295.8% during the 4th quarter. SG Americas Securities LLC now owns 6,598 shares of the company's stock worth $531,000 after purchasing an additional 4,931 shares in the last quarter. Institutional investors own 89.46% of the company's stock.

Insider Transactions at PROCEPT BioRobotics

In related news, EVP Alaleh Nouri sold 28,092 shares of the stock in a transaction on Wednesday, December 4th. The shares were sold at an average price of $97.13, for a total transaction of $2,728,575.96. Following the transaction, the executive vice president now directly owns 52,472 shares of the company's stock, valued at $5,096,605.36. This represents a 34.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Reza Zadno sold 26,420 shares of the stock in a transaction on Wednesday, November 27th. The stock was sold at an average price of $97.83, for a total transaction of $2,584,668.60. Following the transaction, the chief executive officer now directly owns 179,185 shares in the company, valued at approximately $17,529,668.55. This represents a 12.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 107,355 shares of company stock worth $10,327,788 over the last three months. 17.40% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

PRCT has been the subject of several recent research reports. Wells Fargo & Company restated an "overweight" rating and issued a $112.00 price target on shares of PROCEPT BioRobotics in a research report on Tuesday, December 3rd. Jefferies Financial Group initiated coverage on shares of PROCEPT BioRobotics in a research report on Thursday, November 14th. They issued a "hold" rating and a $95.00 price target for the company. Morgan Stanley initiated coverage on shares of PROCEPT BioRobotics in a research report on Monday, December 2nd. They issued an "overweight" rating and a $105.00 price target for the company. Finally, Truist Financial restated a "buy" rating and issued a $105.00 price target (up from $95.00) on shares of PROCEPT BioRobotics in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, PROCEPT BioRobotics has an average rating of "Moderate Buy" and a consensus target price of $97.86.

PROCEPT BioRobotics Trading Down 1.8 %

Shares of PRCT traded down $1.24 during trading hours on Tuesday, hitting $66.37. 255,948 shares of the stock were exchanged, compared to its average volume of 829,648. PROCEPT BioRobotics Co. has a fifty-two week low of $45.20 and a fifty-two week high of $103.81. The company has a debt-to-equity ratio of 0.21, a current ratio of 6.02 and a quick ratio of 5.07. The business has a 50-day moving average of $78.51 and a 200-day moving average of $79.80. The firm has a market capitalization of $3.46 billion, a P/E ratio of -34.22 and a beta of 1.03.

About PROCEPT BioRobotics

PROCEPT BioRobotics Corporation, a surgical robotics company, focuses on developing transformative solutions in urology in the United States and internationally. The company develops, manufactures, and sells AquaBeam Robotic System, an image-guided, surgical robotic system for use in minimally invasive urologic surgery with a focus on treating benign prostatic hyperplasia (BPH).