SG Americas Securities LLC Acquires New Position in Procore Technologies, Inc. (NYSE:PCOR)

SG Americas Securities LLC acquired a new stake in shares of Procore Technologies, Inc. (NYSE:PCOR) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 10,515 shares of the company’s stock, valued at approximately $788,000.

Several other large investors also recently bought and sold shares of PCOR. Wasatch Advisors LP grew its stake in shares of Procore Technologies by 27,239.5% in the 3rd quarter. Wasatch Advisors LP now owns 1,581,318 shares of the company’s stock valued at $97,599,000 after buying an additional 1,575,534 shares during the period. Assenagon Asset Management S.A. acquired a new position in shares of Procore Technologies in the 3rd quarter worth approximately $88,572,000. PointState Capital LP acquired a new position in shares of Procore Technologies in the 3rd quarter worth approximately $81,306,000. Janus Henderson Group PLC lifted its holdings in shares of Procore Technologies by 128.7% in the 3rd quarter. Janus Henderson Group PLC now owns 2,305,041 shares of the company’s stock worth $142,267,000 after acquiring an additional 1,297,151 shares during the last quarter. Finally, ShawSpring Partners LLC lifted its holdings in Procore Technologies by 493.3% during the 3rd quarter. ShawSpring Partners LLC now owns 1,438,082 shares of the company’s stock worth $88,758,000 after buying an additional 1,195,675 shares in the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Procore Technologies Stock Down 1.5 %

PCOR stock opened at $80.52 on Thursday. 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 $86.67. The company has a fifty day moving average of $78.45 and a 200-day moving average of $67.92. The stock has a market capitalization of $11.97 billion, a PE ratio of -161.03 and a beta of 0.83.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.11) EPS for the quarter, meeting the consensus estimate of ($0.11). The firm had revenue of $295.89 million during the quarter, compared to analysts’ expectations of $287.42 million. Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.51%. As a group, analysts expect that Procore Technologies, Inc. will post -0.22 EPS for the current year.

Insider Transactions at Procore Technologies

In related news, insider Benjamin C. Singer sold 1,500 shares of the business’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $76.18, for a total value of $114,270.00. Following the completion of the sale, the insider now directly owns 84,539 shares in the company, valued at approximately $6,440,181.02. The trade was a 1.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Connor Kevin J. O sold 6,410 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $76.62, for a total transaction of $491,134.20. Following the completion of the sale, the director now owns 1,250,598 shares of the company’s stock, valued at approximately $95,820,818.76. The trade was a 0.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 135,804 shares of company stock worth $10,195,395 over the last ninety days. 29.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have issued reports on PCOR. Mizuho increased their target price on shares of Procore Technologies from $65.00 to $75.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. JMP Securities raised their price objective on shares of Procore Technologies from $75.00 to $90.00 and gave the company a “market outperform” rating in a report on Monday, December 2nd. DA Davidson increased their target price on shares of Procore Technologies from $60.00 to $70.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Jefferies Financial Group raised shares of Procore Technologies from a “hold” rating to a “buy” rating and increased their target price for the company from $80.00 to $100.00 in a research report on Monday, January 6th. Finally, UBS Group initiated coverage on shares of Procore Technologies in a research report on Monday, December 2nd. They issued a “buy” rating and a $105.00 target price on the stock. Four investment 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 data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $86.00.

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.