Loomis Sayles & Co. L P Acquires 191,546 Shares of Procore Technologies, Inc. (NYSE:PCOR)

Loomis Sayles & Co. L P lifted its stake in Procore Technologies, Inc. (NYSE:PCOR) by 45.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 614,660 shares of the company’s stock after acquiring an additional 191,546 shares during the period. Loomis Sayles & Co. L P owned approximately 0.41% of Procore Technologies worth $46,056,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the stock. Versant Capital Management Inc increased its holdings in Procore Technologies by 92.1% during the 4th quarter. Versant Capital Management Inc now owns 365 shares of the company’s stock worth $27,000 after acquiring an additional 175 shares during the period. Parkside Financial Bank & Trust increased its holdings in shares of Procore Technologies by 61.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 387 shares of the company’s stock worth $29,000 after purchasing an additional 147 shares during the period. V Square Quantitative Management LLC raised its position in shares of Procore Technologies by 37.8% in the fourth quarter. V Square Quantitative Management LLC now owns 591 shares of the company’s stock worth $44,000 after buying an additional 162 shares in the last quarter. Hilltop National Bank bought a new stake in Procore Technologies during the fourth quarter valued at $53,000. Finally, Skandinaviska Enskilda Banken AB publ grew its position in Procore Technologies by 1,434.0% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 721 shares of the company’s stock worth $54,000 after buying an additional 674 shares in the last quarter. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Procore Technologies Trading Down 0.9 %

NYSE:PCOR opened at $69.32 on Friday. The firm has a market capitalization of $10.39 billion, a P/E ratio of -96.27 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 company has a fifty day moving average of $75.98 and a 200 day moving average of $71.86. Procore Technologies, Inc. has a 52 week low of $49.46 and a 52 week high of $88.92.

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

Insider Transactions at Procore Technologies

In other Procore Technologies news, CRO Lawrence Joseph Stack sold 12,000 shares of the firm’s stock in a transaction dated 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 directly owns 161,368 shares in the company, valued at $13,380,634.56. This trade represents a 6.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder Iconiq Strategic Partners Ii, sold 1,074 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 200 shares in the company, valued at $17,480. This trade represents a 84.30 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 69,604 shares of company stock worth $5,427,468. 29.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have weighed in on the company. Barclays lifted their price target on Procore Technologies from $84.00 to $90.00 and gave the company an “equal weight” rating in a research report on Friday, February 14th. Mizuho lifted their target price on shares of Procore Technologies from $65.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Jefferies Financial Group raised shares of Procore Technologies from a “hold” rating to a “buy” rating and increased their price target for the stock from $80.00 to $100.00 in a report on Monday, January 6th. Macquarie dropped their price objective 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 target price on Procore Technologies from $87.00 to $96.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Procore Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price 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.