Procore Technologies, Inc. (NYSE:PCOR) Shares Purchased by GW&K Investment Management LLC

GW&K Investment Management LLC raised its holdings in Procore Technologies, Inc. (NYSE:PCOR) by 0.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 832,126 shares of the company’s stock after purchasing an additional 6,582 shares during the period. GW&K Investment Management LLC owned about 0.56% of Procore Technologies worth $62,351,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Assenagon Asset Management S.A. raised its holdings 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 in the last quarter. Meritage Group LP increased its position in shares of Procore Technologies by 66.6% in 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 during the last quarter. Principal Financial Group Inc. raised its stake in shares of 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 in the last quarter. Janus Henderson Group PLC lifted its position in shares of Procore Technologies by 128.7% during the third quarter. Janus Henderson Group PLC now owns 2,305,041 shares of the company’s stock worth $142,267,000 after purchasing an additional 1,297,151 shares during the last quarter. Finally, Holocene Advisors LP grew its stake in Procore Technologies by 1.1% in the third quarter. Holocene Advisors LP now owns 1,873,343 shares of the company’s stock worth $115,623,000 after purchasing an additional 21,234 shares in the last quarter. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Procore Technologies

In other Procore Technologies news, Director Connor Kevin J. O sold 5,128 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $73.62, for a total value of $377,523.36. Following the completion of the sale, the director now directly owns 1,264,700 shares in the company, valued at $93,107,214. This represents a 0.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Benjamin C. Singer sold 6,937 shares of Procore Technologies stock in a transaction on Friday, February 21st. The shares were sold at an average price of $83.60, for a total value of $579,933.20. Following the transaction, the insider now owns 72,110 shares in the company, valued at approximately $6,028,396. This trade represents a 8.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 95,311 shares of company stock worth $7,720,903 in the last 90 days. Corporate insiders own 29.00% of the company’s stock.

Procore Technologies Stock Performance

Shares of PCOR stock opened at $75.84 on Friday. Procore Technologies, Inc. has a 12-month low of $49.46 and a 12-month high of $88.92. 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 firm has a market capitalization of $11.27 billion, a price-to-earnings ratio of -105.33 and a beta of 0.84. The business has a 50 day simple moving average of $78.20 and a 200 day simple moving average of $70.08.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings results on Thursday, February 13th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.46). The business had revenue of $302.05 million during the quarter, compared to the consensus estimate 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, equities research analysts anticipate that Procore Technologies, Inc. will post -0.15 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have issued reports on PCOR shares. Jefferies Financial Group upgraded Procore Technologies from a “hold” rating to a “buy” rating and upped their price objective for the company from $80.00 to $100.00 in a research note on Monday, January 6th. TD Cowen upped their price target on Procore Technologies from $70.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. KeyCorp lifted their price objective on shares of Procore Technologies from $85.00 to $96.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. JMP Securities boosted their target price on shares of Procore Technologies from $90.00 to $95.00 and gave the company a “market outperform” rating in a research note on Tuesday, February 18th. Finally, Scotiabank raised their price target on shares of Procore Technologies from $70.00 to $85.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 22nd. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Procore Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $89.94.

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.