Procore Technologies, Inc. (NYSE:PCOR) Shares Bought by Swiss National Bank

Swiss National Bank lifted its holdings in shares of Procore Technologies, Inc. (NYSE:PCOR) by 1.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 203,400 shares of the company’s stock after acquiring an additional 3,400 shares during the quarter. Swiss National Bank’s holdings in Procore Technologies were worth $15,241,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. raised its stake in shares of Procore Technologies by 99.4% during 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 purchasing an additional 1,425,967 shares during the period. Meritage Group LP lifted its holdings in 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 buying an additional 1,098,019 shares in the last quarter. Principal Financial Group Inc. boosted its position in 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 buying an additional 2,670,872 shares during the last quarter. Janus Henderson Group PLC grew its stake 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 valued at $142,267,000 after acquiring an additional 1,297,151 shares in the last quarter. Finally, Holocene Advisors LP increased its position 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 acquiring an additional 21,234 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Procore Technologies

In other Procore Technologies news, major shareholder Iconiq Strategic Partners Ii, sold 1,074 shares of Procore Technologies stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $87.40, for a total transaction of $93,867.60. Following the sale, the insider now owns 200 shares of the company’s stock, valued at $17,480. The trade was a 84.30 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Howard Fu sold 8,000 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $87.00, for a total value of $696,000.00. Following the completion of the transaction, the chief financial officer now directly owns 156,188 shares of the company’s stock, 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. Insiders have sold a total of 69,657 shares of company stock worth $5,442,199 in the last ninety days. 29.00% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on PCOR. KeyCorp increased their price target on Procore Technologies from $85.00 to $96.00 and gave the company an “overweight” rating in a report on Friday, February 14th. The Goldman Sachs Group increased their target price on Procore Technologies from $73.00 to $83.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. BMO Capital Markets upped their price target on shares of Procore Technologies from $71.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, November 22nd. Piper Sandler raised their price objective on shares of Procore Technologies from $90.00 to $110.00 and gave the stock an “overweight” rating in a report on Friday, February 14th. Finally, UBS Group upped their target price on shares of Procore Technologies from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $90.24.

Procore Technologies Stock Up 1.8 %

Shares of Procore Technologies stock opened at $69.87 on Thursday. The stock has a market capitalization of $10.48 billion, a price-to-earnings ratio of -97.05 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 current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03. The business’s 50 day simple moving average is $76.61 and its 200-day simple moving average is $71.36.

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

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.