Zevenbergen Capital Investments LLC Lowers Position in Procore Technologies, Inc. (NYSE:PCOR)

Zevenbergen Capital Investments LLC decreased its holdings in shares of Procore Technologies, Inc. (NYSE:PCOR) by 3.8% in the 4th quarter, Holdings Channel reports. The firm owned 90,595 shares of the company’s stock after selling 3,535 shares during the period. Zevenbergen Capital Investments LLC’s holdings in Procore Technologies were worth $6,788,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its stake in Procore Technologies by 7.6% in the 4th quarter. Vanguard Group Inc. now owns 11,900,337 shares of the company’s stock worth $891,692,000 after buying an additional 838,925 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Procore Technologies by 99.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,861,024 shares of the company’s stock worth $214,377,000 after acquiring an additional 1,425,967 shares during the last quarter. Meritage Group LP lifted its holdings in shares of Procore Technologies by 66.6% during the 3rd quarter. Meritage Group LP now owns 2,745,504 shares of the company’s stock worth $169,453,000 after acquiring an additional 1,098,019 shares during the last quarter. Principal Financial Group Inc. grew its position in 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 worth $200,810,000 after acquiring an additional 2,670,872 shares in the last quarter. Finally, Janus Henderson Group PLC increased its stake in Procore Technologies by 128.7% in 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 during the last quarter. 81.10% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Procore Technologies

In related news, 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 sale, the chief financial officer now owns 156,188 shares of the company’s stock, valued at $13,588,356. The trade was a 4.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CRO Lawrence Joseph Stack sold 12,000 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $82.92, for a total transaction of $995,040.00. Following the transaction, the executive now directly owns 161,368 shares of the company’s stock, valued at $13,380,634.56. This represents a 6.92 % 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 valued at $5,427,468. 29.00% of the stock is currently owned by corporate insiders.

Procore Technologies Stock Performance

Shares of PCOR stock opened at $70.37 on Monday. The firm has a market capitalization of $10.55 billion, a price-to-earnings ratio of -97.73 and a beta of 0.85. The stock has a fifty day moving average of $76.38 and a 200 day moving average of $71.64. Procore Technologies, Inc. has a 52 week low of $49.46 and a 52 week high of $88.92. 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 posted its earnings results on Thursday, February 13th. The company reported ($0.35) EPS 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 analysts’ expectations of $297.72 million. As a group, research analysts expect that Procore Technologies, Inc. will post -0.15 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PCOR. JPMorgan Chase & Co. lifted their price target on Procore Technologies from $85.00 to $92.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Stifel Nicolaus upped their target price on Procore Technologies from $84.00 to $93.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Canaccord Genuity Group lifted their price target on shares of Procore Technologies from $83.00 to $97.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. KeyCorp upped their price objective on shares of Procore Technologies from $85.00 to $96.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Finally, Robert W. Baird lifted their target price on shares of Procore Technologies from $87.00 to $96.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Procore Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $90.24.

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.