Procore Technologies, Inc. $PCOR Shares Purchased by US Bancorp DE

US Bancorp DE increased its stake in Procore Technologies, Inc. (NYSE:PCOR) by 69.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 36,695 shares of the company’s stock after purchasing an additional 15,057 shares during the period. US Bancorp DE’s holdings in Procore Technologies were worth $2,676,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its stake in shares of Procore Technologies by 12.2% in the 3rd quarter. Principal Financial Group Inc. now owns 3,301,569 shares of the company’s stock worth $240,753,000 after buying an additional 360,207 shares in the last quarter. Sequoia Financial Advisors LLC acquired a new stake in Procore Technologies in the 3rd quarter valued at about $1,442,000. Envestnet Asset Management Inc. boosted its position in shares of Procore Technologies by 31.2% during the 3rd quarter. Envestnet Asset Management Inc. now owns 419,735 shares of the company’s stock valued at $30,607,000 after purchasing an additional 99,706 shares in the last quarter. Federated Hermes Inc. grew its stake in shares of Procore Technologies by 17.0% in the 2nd quarter. Federated Hermes Inc. now owns 304,219 shares of the company’s stock worth $20,815,000 after purchasing an additional 44,105 shares during the last quarter. Finally, Stephens Investment Management Group LLC raised its holdings in shares of Procore Technologies by 19.6% in the 3rd quarter. Stephens Investment Management Group LLC now owns 365,149 shares of the company’s stock worth $26,627,000 after purchasing an additional 59,923 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Director Connor Kevin J. O sold 9,615 shares of the business’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $54.48, for a total value of $523,825.20. Following the completion of the sale, the director directly owned 1,012,136 shares in the company, valued at approximately $55,141,169.28. The trade was a 0.94% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Craig F. Jr. Courtemanche sold 75,000 shares of the business’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $72.70, for a total transaction of $5,452,500.00. Following the completion of the sale, the chairman owned 1,155,480 shares of the company’s stock, valued at $84,003,396. The trade was a 6.10% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 314,098 shares of company stock worth $22,229,482 in the last three months. 21.50% of the stock is owned by insiders.

Procore Technologies Stock Up 1.4%

Shares of Procore Technologies stock opened at $56.53 on Wednesday. The stock has a 50-day simple moving average of $61.94 and a 200-day simple moving average of $68.79. Procore Technologies, Inc. has a 52-week low of $46.08 and a 52-week high of $82.32. The firm has a market cap of $8.49 billion, a price-to-earnings ratio of -84.37 and a beta of 0.90. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.32 and a quick ratio of 1.32.

Procore Technologies (NYSE:PCOR) last posted its earnings results on Thursday, February 12th. The company reported $0.37 EPS for the quarter, topping the consensus estimate of $0.35 by $0.02. The company had revenue of $349.11 million during the quarter, compared to the consensus estimate of $340.80 million. Procore Technologies had a negative net margin of 7.62% and a negative return on equity of 3.96%. The company’s revenue for the quarter was up 15.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.01 earnings per share. On average, equities research analysts expect that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on PCOR. Wall Street Zen downgraded Procore Technologies from a “buy” rating to a “hold” rating in a report on Saturday, February 14th. BMO Capital Markets cut their target price on shares of Procore Technologies from $87.00 to $67.00 and set an “outperform” rating on the stock in a research note on Thursday, February 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Procore Technologies in a research report on Thursday, January 22nd. Piper Sandler lowered their target price on Procore Technologies from $91.00 to $79.00 and set an “overweight” rating on the stock in a research note on Friday, February 13th. Finally, KeyCorp reduced their price target on shares of Procore Technologies from $91.00 to $80.00 and set an “overweight” rating for the company in a research report on Friday, February 6th. Seventeen equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $76.95.

Procore Technologies Company 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. It offers Preconstruction that facilitates collaboration between internal and external stakeholders during the planning, budgeting, estimating, bidding, and partner selection phase of a construction project; and Project Execution, which enables real-time collaboration, information storage, design, BIM model clash detection, and regulation compliance for teams on the jobsite and in the back office.