B. Metzler seel. Sohn & Co. Holding AG Takes $1.25 Million Position in Procore Technologies, Inc. (NYSE:PCOR)

B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Procore Technologies, Inc. (NYSE:PCOR) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 20,306 shares of the company’s stock, valued at approximately $1,253,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. XN LP grew its holdings in Procore Technologies by 101.1% during the 2nd quarter. XN LP now owns 2,808,251 shares of the company’s stock worth $186,215,000 after acquiring an additional 1,411,812 shares during the period. Dragoneer Investment Group LLC grew its stake in Procore Technologies by 254.0% during the second quarter. Dragoneer Investment Group LLC now owns 2,243,431 shares of the company’s stock worth $148,762,000 after purchasing an additional 1,609,607 shares during the period. Assenagon Asset Management S.A. bought a new stake in Procore Technologies in the third quarter worth approximately $88,572,000. Robeco Schweiz AG lifted its stake in Procore Technologies by 20.1% in the second quarter. Robeco Schweiz AG now owns 1,315,000 shares of the company’s stock valued at $87,198,000 after buying an additional 220,000 shares during the period. Finally, Acadian Asset Management LLC boosted its holdings in shares of Procore Technologies by 46.4% during the 2nd quarter. Acadian Asset Management LLC now owns 1,110,134 shares of the company’s stock worth $73,597,000 after buying an additional 351,705 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Procore Technologies Price Performance

Procore Technologies stock opened at $76.67 on Friday. Procore Technologies, Inc. has a 52 week low of $49.46 and a 52 week high of $83.35. The company’s 50 day moving average price is $64.19 and its two-hundred day moving average price is $63.98. The stock has a market cap of $11.40 billion, a P/E ratio of -153.34 and a beta of 0.71. 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 Wednesday, October 30th. The company reported ($0.11) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.11). The firm had revenue of $295.89 million during the quarter, compared to analyst estimates of $287.42 million. Procore Technologies had a negative return on equity of 2.51% and a negative net margin of 6.59%. On average, equities analysts predict that Procore Technologies, Inc. will post -0.23 earnings per share for the current year.

Insider Transactions at Procore Technologies

In related news, Director Connor Kevin J. O sold 5,128 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $58.48, for a total transaction of $299,885.44. Following the sale, the director now directly owns 1,360,848 shares in the company, valued at approximately $79,582,391.04. The trade was a 0.38 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Craig F. Jr. Courtemanche sold 22,665 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $71.36, for a total value of $1,617,374.40. Following the completion of the transaction, the chief executive officer now owns 770,458 shares of the company’s stock, valued at approximately $54,979,882.88. This represents a 2.86 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 109,053 shares of company stock worth $7,426,909 in the last quarter. Insiders own 29.00% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Stifel Nicolaus lifted their price objective on shares of Procore Technologies from $70.00 to $84.00 and gave the company a “buy” rating in a research note on Friday. DA Davidson upped their price objective on shares of Procore Technologies from $60.00 to $70.00 and gave the company a “neutral” rating in a report on Friday. KeyCorp raised their target price on Procore Technologies from $68.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday. Piper Sandler upped their price target on Procore Technologies from $70.00 to $90.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Jefferies Financial Group raised their price objective on Procore Technologies from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Monday, November 18th. Five research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $79.25.

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.