Sei Investments Co. Grows Stake in Procore Technologies, Inc. (NYSE:PCOR)

Sei Investments Co. lifted its stake in Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 75.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 465,472 shares of the company's stock after buying an additional 200,317 shares during the period. Sei Investments Co. owned approximately 0.31% of Procore Technologies worth $34,878,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of PCOR. Assenagon Asset Management S.A. grew its position in Procore Technologies by 99.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,861,024 shares of the company's stock valued at $214,377,000 after acquiring an additional 1,425,967 shares during the last quarter. Meritage Group LP increased its position in Procore Technologies by 66.6% during the 3rd quarter. Meritage Group LP now owns 2,745,504 shares of the company's stock worth $169,453,000 after purchasing an additional 1,098,019 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Procore Technologies by 29,376.1% in the 4th quarter. Principal Financial Group Inc. now owns 2,679,964 shares of the company's stock valued at $200,810,000 after purchasing an additional 2,670,872 shares during the last quarter. Janus Henderson Group PLC boosted its position in Procore Technologies by 128.7% in the third quarter. Janus Henderson Group PLC now owns 2,305,041 shares of the company's stock valued at $142,267,000 after buying an additional 1,297,151 shares in the last quarter. Finally, Holocene Advisors LP grew its stake in shares of Procore Technologies by 1.1% during the third quarter. Holocene Advisors LP now owns 1,873,343 shares of the company's stock worth $115,623,000 after buying an additional 21,234 shares during the last quarter. Institutional investors own 81.10% of the company's stock.

Remove Ads

Procore Technologies Stock Up 0.5 %

Shares of PCOR stock traded up $0.39 during mid-day trading on Tuesday, reaching $72.35. 599,334 shares of the company's stock traded hands, compared to its average volume of 1,676,271. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03. The company's 50-day moving average price is $76.34 and its 200-day moving average price is $71.76. The company has a market cap of $10.85 billion, a P/E ratio of -100.48 and a beta of 0.85. Procore Technologies, Inc. has a 12 month low of $49.46 and a 12 month high of $88.92.

Procore Technologies (NYSE:PCOR - Get Free Report) last announced its quarterly earnings data 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 analysts' expectations of $297.72 million. On average, equities analysts expect that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Insider Transactions at Procore Technologies

In other news, 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 transaction, the chief financial officer now directly owns 144,713 shares of the company's stock, valued at $9,954,807.27. This represents a 0.99 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Benjamin C. Singer sold 1,500 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $78.00, for a total value of $117,000.00. Following the sale, the insider now directly owns 83,039 shares in the company, valued at $6,477,042. This trade represents a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 69,604 shares of company stock valued at $5,427,468 in the last quarter. 29.00% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on PCOR shares. Macquarie decreased their price objective on Procore Technologies from $93.00 to $75.00 and set a "neutral" rating for the company in a report on Thursday, March 13th. JPMorgan Chase & Co. raised their price target 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. Barclays boosted their price target on shares of Procore Technologies from $84.00 to $90.00 and gave the stock an "equal weight" rating in a research report on Friday, February 14th. Stifel Nicolaus increased their price objective on shares of Procore Technologies from $84.00 to $93.00 and gave the stock a "buy" rating in a research report on Wednesday, December 18th. Finally, Canaccord Genuity Group upped their price target on shares of Procore Technologies from $83.00 to $97.00 and gave the company a "buy" rating in a research report on Friday, February 14th. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Procore Technologies has a consensus rating of "Moderate Buy" and an average price target of $90.24.

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.