Eagle Asset Management Inc. Invests $10.68 Million in Procore Technologies, Inc. (NYSE:PCOR)

Eagle Asset Management Inc. purchased a new position in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 172,977 shares of the company's stock, valued at approximately $10,676,000. Eagle Asset Management Inc. owned 0.12% of Procore Technologies at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. CIBC Asset Management Inc grew its stake in shares of Procore Technologies by 3.5% during the third quarter. CIBC Asset Management Inc now owns 4,204 shares of the company's stock worth $259,000 after buying an additional 143 shares during the last quarter. Tanager Wealth Management LLP grew its position in Procore Technologies by 1.2% during the 2nd quarter. Tanager Wealth Management LLP now owns 12,579 shares of the company's stock worth $834,000 after acquiring an additional 150 shares during the last quarter. GAMMA Investing LLC increased its holdings in Procore Technologies by 76.4% in the 3rd quarter. GAMMA Investing LLC now owns 404 shares of the company's stock worth $25,000 after purchasing an additional 175 shares in the last quarter. Taylor Frigon Capital Management LLC raised its position in Procore Technologies by 0.3% in the second quarter. Taylor Frigon Capital Management LLC now owns 53,845 shares of the company's stock valued at $3,570,000 after purchasing an additional 180 shares during the last quarter. Finally, Signaturefd LLC boosted its stake in shares of Procore Technologies by 52.0% during the second quarter. Signaturefd LLC now owns 631 shares of the company's stock valued at $42,000 after purchasing an additional 216 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company's stock.

Insiders Place Their Bets

In related news, SVP William Fred Fleming, Jr. sold 15,000 shares of the business's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $70.75, for a total value of $1,061,250.00. Following the sale, the senior vice president now directly owns 75,120 shares in the company, valued at approximately $5,314,740. The trade was a 16.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Howard Fu sold 7,809 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $71.36, for a total transaction of $557,250.24. Following the transaction, the chief financial officer now owns 164,188 shares of the company's stock, valued at $11,716,455.68. This represents a 4.54 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 109,053 shares of company stock valued at $7,426,909 in the last three months. 29.00% of the stock is currently owned by insiders.

Procore Technologies Stock Up 1.9 %

Shares of NYSE PCOR traded up $1.45 during mid-day trading on Friday, reaching $76.68. 3,603,858 shares of the company's stock traded hands, compared to its average volume of 2,187,903. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57. The business has a 50-day simple moving average of $64.19 and a 200 day simple moving average of $63.94. The stock has a market cap of $11.40 billion, a P/E ratio of -153.36 and a beta of 0.71. Procore Technologies, Inc. has a 1-year low of $49.46 and a 1-year high of $83.35.

Procore Technologies (NYSE:PCOR - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.11) EPS for the quarter, hitting analysts' consensus estimates of ($0.11). Procore Technologies had a negative return on equity of 2.51% and a negative net margin of 6.59%. The firm had revenue of $295.89 million during the quarter, compared to analyst estimates of $287.42 million. On average, analysts expect that Procore Technologies, Inc. will post -0.23 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on PCOR. JMP Securities reduced their price objective on shares of Procore Technologies from $82.00 to $75.00 and set a "market outperform" rating on the stock in a research note on Thursday, October 31st. Stifel Nicolaus lifted their price objective on Procore Technologies from $70.00 to $84.00 and gave the stock a "buy" rating in a research note on Friday. Canaccord Genuity Group increased their target price on shares of Procore Technologies from $67.00 to $83.00 and gave the company a "buy" rating in a research report on Friday. Robert W. Baird began coverage on shares of Procore Technologies in a research note on Tuesday, September 24th. They issued an "outperform" rating and a $73.00 price objective on the stock. Finally, TD Cowen boosted their target price on shares of Procore Technologies from $70.00 to $82.00 and gave the company a "buy" rating in a report on Friday. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $79.25.

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.