Orion Portfolio Solutions LLC Grows Position in Procore Technologies, Inc. (NYSE:PCOR)

Orion Portfolio Solutions LLC grew its stake in Procore Technologies, Inc. (NYSE:PCOR) by 10.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 74,510 shares of the company’s stock after acquiring an additional 6,827 shares during the quarter. Orion Portfolio Solutions LLC owned about 0.05% of Procore Technologies worth $5,583,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in PCOR. Pictet Asset Management Holding SA lifted its holdings in Procore Technologies by 12.8% in the 4th quarter. Pictet Asset Management Holding SA now owns 17,565 shares of the company’s stock valued at $1,316,000 after purchasing an additional 1,987 shares in the last quarter. Norges Bank acquired a new position in shares of Procore Technologies in the fourth quarter valued at approximately $86,387,000. Blair William & Co. IL lifted its stake in shares of Procore Technologies by 43.9% during the fourth quarter. Blair William & Co. IL now owns 800,784 shares of the company’s stock valued at $60,003,000 after buying an additional 244,126 shares during the period. Loomis Sayles & Co. L P boosted its position in Procore Technologies by 45.3% during the fourth quarter. Loomis Sayles & Co. L P now owns 614,660 shares of the company’s stock worth $46,056,000 after acquiring an additional 191,546 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its stake in Procore Technologies by 20.8% in the 4th quarter. JPMorgan Chase & Co. now owns 1,766,675 shares of the company’s stock worth $132,377,000 after acquiring an additional 304,396 shares during the period. Institutional investors and hedge funds own 81.10% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Canaccord Genuity Group raised their price objective on Procore Technologies from $83.00 to $97.00 and gave the stock a “buy” rating in a report on Friday, February 14th. JPMorgan Chase & Co. lifted their price target on Procore Technologies from $85.00 to $92.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Barclays increased their price objective on shares of Procore Technologies from $84.00 to $90.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. Macquarie lowered their target price on shares of Procore Technologies from $93.00 to $75.00 and set a “neutral” rating for the company in a report on Thursday, March 13th. Finally, Robert W. Baird increased their price target 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 equities research 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 company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $90.24.

Procore Technologies Stock Performance

Shares of NYSE:PCOR opened at $66.74 on Friday. The business’s 50-day simple moving average is $75.77 and its 200 day simple moving average is $72.07. The company has a market cap of $10.01 billion, a P/E ratio of -92.70 and a beta of 0.85. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57. Procore Technologies, Inc. has a one year low of $49.46 and a one year high of $88.92.

Procore Technologies (NYSE:PCOR) last posted its earnings results on Thursday, February 13th. The company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.46). The firm had revenue of $302.05 million for the quarter, compared to analyst estimates of $297.72 million. Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. On average, sell-side analysts forecast that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder Iconiq Strategic Partners Ii, sold 1,074 shares of Procore Technologies stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $87.40, for a total value of $93,867.60. Following the completion of the sale, the insider now owns 200 shares in the company, valued at approximately $17,480. The trade was a 84.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Howard Fu sold 8,000 shares of the stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $87.00, for a total transaction of $696,000.00. Following the transaction, the chief financial officer now owns 156,188 shares in the company, valued at $13,588,356. This trade represents a 4.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 69,604 shares of company stock worth $5,427,468 in the last quarter. 29.00% of the stock is owned by corporate insiders.

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.