9,025 Shares in Procore Technologies, Inc. (NYSE:PCOR) Acquired by Summit Global Investments

Summit Global Investments purchased a new stake in shares of Procore Technologies, Inc. (NYSE:PCOR) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 9,025 shares of the company’s stock, valued at approximately $676,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in PCOR. Assenagon Asset Management S.A. increased its position in shares of Procore Technologies by 99.4% in the 4th 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 period. Meritage Group LP grew its stake in Procore Technologies by 66.6% during the 3rd quarter. Meritage Group LP now owns 2,745,504 shares of the company’s stock valued at $169,453,000 after purchasing an additional 1,098,019 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Procore Technologies by 29,376.1% in the fourth 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 period. Janus Henderson Group PLC raised its stake in shares of Procore Technologies by 128.7% in 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 lifted its holdings 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 purchasing an additional 21,234 shares during the period. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Procore Technologies Stock Up 1.3 %

PCOR opened at $70.37 on Monday. The company has a market cap of $10.55 billion, a PE ratio of -97.73 and a beta of 0.85. Procore Technologies, Inc. has a twelve month low of $49.46 and a twelve month high of $88.92. The company has a 50-day moving average price of $76.38 and a 200 day moving average price of $71.64. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03.

Procore Technologies (NYSE:PCOR) last announced 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 net margin of 9.20% and a negative return on equity of 5.10%. Sell-side analysts expect that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Stifel Nicolaus raised their price target 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. 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 report on Tuesday, February 18th. Macquarie lowered their price target on shares of Procore Technologies from $93.00 to $75.00 and set a “neutral” rating on the stock in a report on Thursday, March 13th. UBS Group lifted their price objective on Procore Technologies from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Finally, KeyCorp upped their target price on Procore Technologies from $85.00 to $96.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Four equities research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Procore Technologies has an average rating of “Moderate Buy” and an average target price of $90.24.

Insider Buying and Selling at Procore Technologies

In other Procore Technologies news, major shareholder Iconiq Strategic Partners Ii, sold 1,074 shares of the firm’s stock in a transaction on Wednesday, February 19th. The stock was 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 directly owns 200 shares of the company’s stock, valued at $17,480. This trade represents a 84.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Howard Fu sold 8,000 shares of the business’s stock in a transaction dated 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 directly owns 156,188 shares in the company, valued at approximately $13,588,356. The trade was a 4.87 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 69,604 shares of company stock worth $5,427,468. Corporate insiders own 29.00% of the company’s stock.

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.