Sei Investments Co. Has $34.88 Million Position in Procore Technologies, Inc. (NYSE:PCOR)

Sei Investments Co. raised its stake in Procore Technologies, Inc. (NYSE:PCOR) by 75.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 465,472 shares of the company’s stock after buying an additional 200,317 shares during the period. Sei Investments Co. owned about 0.31% of Procore Technologies worth $34,878,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Diversified Trust Co increased its position in Procore Technologies by 157.1% during the 4th quarter. Diversified Trust Co now owns 50,649 shares of the company’s stock valued at $3,795,000 after purchasing an additional 30,948 shares during the period. Westfield Capital Management Co. LP increased its position in shares of Procore Technologies by 39.2% during the third 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 period. US Bancorp DE raised its stake in Procore Technologies by 18.8% during the fourth quarter. US Bancorp DE now owns 21,416 shares of the company’s stock worth $1,605,000 after buying an additional 3,390 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Procore Technologies in the fourth quarter valued at $20,729,000. Finally, Barclays PLC lifted its holdings in Procore Technologies by 49.1% in the third quarter. Barclays PLC now owns 69,012 shares of the company’s stock valued at $4,259,000 after buying an additional 22,734 shares during the period. 81.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PCOR has been the subject of several research analyst reports. Jefferies Financial Group raised Procore Technologies from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $80.00 to $100.00 in a research report on Monday, January 6th. JPMorgan Chase & Co. boosted their price target on Procore Technologies from $85.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. KeyCorp raised their price objective on shares of Procore Technologies from $85.00 to $96.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Piper Sandler lifted their price objective on shares of Procore Technologies from $90.00 to $110.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Finally, Robert W. Baird increased their target price on shares of Procore Technologies from $87.00 to $96.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. Four 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’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $90.24.

Procore Technologies Price Performance

Shares of NYSE PCOR opened at $72.07 on Tuesday. The company has a market capitalization of $10.81 billion, a PE ratio of -100.10 and a beta of 0.85. 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 stock’s 50 day moving average price is $76.34 and its 200-day moving average price is $71.76. Procore Technologies, Inc. has a twelve month low of $49.46 and a twelve month high of $88.92.

Procore Technologies (NYSE:PCOR) last posted its quarterly earnings data on Thursday, February 13th. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate 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 anticipate that Procore Technologies, Inc. will post -0.15 EPS for the current year.

Insider Activity at Procore Technologies

In other Procore Technologies news, CFO Howard Fu sold 1,447 shares of the 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 completion of the transaction, the chief financial officer now directly owns 144,713 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through this link. Also, CRO Lawrence Joseph Stack sold 12,000 shares of the business’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $82.92, for a total value of $995,040.00. Following the completion of the sale, the executive now owns 161,368 shares in the company, valued at approximately $13,380,634.56. The trade was a 6.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,604 shares of company stock worth $5,427,468. 29.00% of the stock is owned by company insiders.

About Procore Technologies

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.