Assenagon Asset Management S.A. Increases Stake in Procore Technologies, Inc. (NYSE:PCOR)

Assenagon Asset Management S.A. increased its position in Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 99.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,861,024 shares of the company's stock after acquiring an additional 1,425,967 shares during the period. Assenagon Asset Management S.A. owned about 1.92% of Procore Technologies worth $214,377,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC grew its stake in shares of Procore Technologies by 76.4% in the third quarter. GAMMA Investing LLC now owns 404 shares of the company's stock worth $25,000 after acquiring an additional 175 shares during the period. V Square Quantitative Management LLC purchased a new position in shares of Procore Technologies during the 3rd quarter worth $26,000. Versant Capital Management Inc grew its position in shares of Procore Technologies by 92.1% during the 4th quarter. Versant Capital Management Inc now owns 365 shares of the company's stock valued at $27,000 after acquiring an additional 175 shares during the period. International Assets Investment Management LLC increased its stake in shares of Procore Technologies by 6,069.2% in the 3rd quarter. International Assets Investment Management LLC now owns 802 shares of the company's stock worth $49,000 after purchasing an additional 789 shares in the last quarter. Finally, Hilltop National Bank bought a new position in Procore Technologies in the 4th quarter worth $53,000. 81.10% of the stock is owned by institutional investors.

Insider Buying and Selling at Procore Technologies

In other news, Director Connor Kevin J. O sold 5,128 shares of the business's stock in a transaction on Tuesday, October 22nd. The shares were sold at an average price of $62.07, for a total transaction of $318,294.96. Following the completion of the sale, the director now directly owns 1,355,720 shares of the company's stock, valued at approximately $84,149,540.40. The trade was a 0.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Benjamin C. Singer sold 1,500 shares of the firm's stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $76.18, for a total transaction of $114,270.00. Following the completion of the transaction, the insider now directly owns 84,539 shares in the company, valued at $6,440,181.02. This represents a 1.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 142,693 shares of company stock worth $10,479,096 over the last 90 days. Company insiders own 29.00% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently commented on PCOR. Piper Sandler boosted their price target on Procore Technologies from $70.00 to $90.00 and gave the stock an "overweight" rating in a report on Friday, November 22nd. JPMorgan Chase & Co. boosted their target price on shares of Procore Technologies from $85.00 to $92.00 and gave the stock an "overweight" rating in a report on Monday, December 9th. Jefferies Financial Group raised shares of Procore Technologies from a "hold" rating to a "buy" rating and raised their target price for the company from $80.00 to $100.00 in a research note on Monday, January 6th. Baird R W upgraded shares of Procore Technologies to a "strong-buy" rating in a research note on Tuesday, September 24th. Finally, BMO Capital Markets raised their price objective on Procore Technologies from $71.00 to $85.00 and gave the company an "outperform" rating in a research report on Friday, November 22nd. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $86.00.

Procore Technologies Trading Up 2.7 %

NYSE:PCOR traded up $2.03 during midday trading on Wednesday, hitting $76.85. 1,145,212 shares of the company traded hands, compared to its average volume of 1,150,415. The firm has a market capitalization of $11.42 billion, a P/E ratio of -153.70 and a beta of 0.83. The firm's fifty day moving average is $76.72 and its 200-day moving average is $67.00. Procore Technologies, Inc. has a 12-month low of $49.46 and a 12-month high of $86.67. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03.

Procore Technologies (NYSE:PCOR - Get Free Report) last announced its earnings results on Wednesday, October 30th. The company reported ($0.11) earnings per share for the quarter, meeting the consensus estimate of ($0.11). Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.51%. The business had revenue of $295.89 million for the quarter, compared to the consensus estimate of $287.42 million. On average, sell-side analysts predict that Procore Technologies, Inc. will post -0.23 EPS for the current year.

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.