Envestnet Portfolio Solutions Inc. Has $599,000 Position in Procore Technologies, Inc. (NYSE:PCOR)

Envestnet Portfolio Solutions Inc. raised its stake in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 99.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,991 shares of the company's stock after purchasing an additional 3,991 shares during the period. Envestnet Portfolio Solutions Inc.'s holdings in Procore Technologies were worth $599,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PCOR. Charles Schwab Investment Management Inc. boosted its stake in shares of Procore Technologies by 16.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 682,303 shares of the company's stock valued at $42,112,000 after buying an additional 97,117 shares during the period. Cerity Partners LLC raised its holdings in shares of Procore Technologies by 58.9% in the third quarter. Cerity Partners LLC now owns 53,509 shares of the company's stock valued at $3,303,000 after buying an additional 19,838 shares during the last quarter. Westfield Capital Management Co. LP raised its position in Procore Technologies by 39.2% during the 3rd quarter. Westfield Capital Management Co. LP now owns 966,215 shares of the company's stock worth $59,635,000 after buying an additional 272,030 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of Procore Technologies by 8.7% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 31,718 shares of the company's stock worth $1,958,000 after purchasing an additional 2,538 shares in the last quarter. Finally, Advantage Alpha Capital Partners LP boosted its holdings in Procore Technologies by 30.2% during the third quarter. Advantage Alpha Capital Partners LP now owns 126,783 shares of the company's stock worth $7,825,000 after buying an additional 29,431 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company's stock.

Remove Ads

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Macquarie cut their price target on Procore Technologies from $93.00 to $75.00 and set a "neutral" rating for the company in a report on Thursday, March 13th. Stifel Nicolaus upped their target price on shares of Procore Technologies from $84.00 to $93.00 and gave the company a "buy" rating in a research note on Wednesday, December 18th. Barclays increased their target price on Procore Technologies from $84.00 to $90.00 and gave the company an "equal weight" rating in a research note on Friday, February 14th. JPMorgan Chase & Co. upped their price objective on Procore Technologies from $85.00 to $92.00 and gave the company an "overweight" rating in a research note on Monday, December 9th. Finally, JMP Securities raised their price target on shares of Procore Technologies from $90.00 to $95.00 and gave the stock a "market outperform" rating in a research report on Tuesday, February 18th. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Procore Technologies has a consensus rating of "Moderate Buy" and a consensus price target of $90.24.

Insiders Place Their Bets

In other news, insider Benjamin C. Singer sold 1,500 shares of the company's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $78.00, for a total transaction of $117,000.00. Following the completion of the transaction, the insider now owns 83,039 shares of the company's stock, valued at $6,477,042. This represents a 1.77 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Howard Fu sold 1,447 shares of the company's stock in a transaction on Friday, March 21st. The stock was sold at an average price of $68.79, for a total transaction of $99,539.13. Following the sale, the chief financial officer now directly owns 144,713 shares of the company's stock, valued at approximately $9,954,807.27. This trade represents a 0.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 69,604 shares of company stock valued at $5,427,468 in the last ninety days. Insiders own 29.00% of the company's stock.

Procore Technologies Trading Up 0.5 %

Shares of PCOR stock traded up $0.39 during trading hours on Tuesday, reaching $72.35. 599,334 shares of the stock were exchanged, compared to its average volume of 1,672,623. Procore Technologies, Inc. has a 12-month low of $49.46 and a 12-month high of $88.92. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03. The firm has a market capitalization of $10.85 billion, a price-to-earnings ratio of -100.48 and a beta of 0.85. The company's 50-day moving average price is $76.34 and its 200-day moving average price is $71.76.

Procore Technologies (NYSE:PCOR - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The company reported ($0.35) earnings per share for the quarter, missing analysts' consensus estimates of $0.11 by ($0.46). Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. The business had revenue of $302.05 million during the quarter, compared to analyst estimates of $297.72 million. As a group, equities analysts anticipate that Procore Technologies, Inc. will post -0.15 earnings per share for the current 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.