Procore Technologies, Inc. (NYSE:PCOR) Stock Position Lifted by Jennison Associates LLC

Jennison Associates LLC lifted its stake in Procore Technologies, Inc. (NYSE:PCOR) by 722.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 586,523 shares of the company’s stock after acquiring an additional 515,245 shares during the quarter. Jennison Associates LLC’s holdings in Procore Technologies were worth $40,599,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Procore Technologies by 13.2% during the 3rd quarter. Vanguard Group Inc. now owns 8,538,670 shares of the company’s stock worth $557,746,000 after purchasing an additional 995,757 shares in the last quarter. California Public Employees Retirement System raised its position in Procore Technologies by 31.8% during the third quarter. California Public Employees Retirement System now owns 139,326 shares of the company’s stock valued at $9,101,000 after acquiring an additional 33,590 shares in the last quarter. Rhumbline Advisers lifted its stake in Procore Technologies by 1.9% in the third quarter. Rhumbline Advisers now owns 111,137 shares of the company’s stock valued at $7,259,000 after acquiring an additional 2,073 shares during the last quarter. Lisanti Capital Growth LLC bought a new stake in Procore Technologies in the third quarter worth approximately $2,922,000. Finally, Nomura Asset Management Co. Ltd. acquired a new position in shares of Procore Technologies during the 3rd quarter worth $7,328,000. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Procore Technologies

In other Procore Technologies news, CEO Craig F. Jr. Courtemanche sold 65,246 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $73.90, for a total transaction of $4,821,679.40. Following the completion of the sale, the chief executive officer now owns 748,247 shares in the company, valued at approximately $55,295,453.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Connor Kevin J. O sold 6,410 shares of Procore Technologies stock in a transaction on Thursday, April 4th. The shares were sold at an average price of $79.20, for a total transaction of $507,672.00. Following the transaction, the director now directly owns 1,494,311 shares of the company’s stock, valued at $118,349,431.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Craig F. Jr. Courtemanche sold 65,246 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $73.90, for a total transaction of $4,821,679.40. Following the completion of the sale, the chief executive officer now owns 748,247 shares of the company’s stock, valued at approximately $55,295,453.30. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 466,231 shares of company stock valued at $36,510,114. 39.20% of the stock is currently owned by insiders.

Procore Technologies Stock Up 1.6 %

Shares of PCOR opened at $71.74 on Wednesday. Procore Technologies, Inc. has a 52 week low of $48.11 and a 52 week high of $83.35. The company has a current ratio of 1.49, a quick ratio of 1.49 and a debt-to-equity ratio of 0.04. The business’s fifty day moving average price is $77.07 and its two-hundred day moving average price is $68.86.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings data on Thursday, February 15th. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.26) by $0.13. Procore Technologies had a negative return on equity of 12.26% and a negative net margin of 19.97%. The firm had revenue of $260.04 million during the quarter, compared to analyst estimates of $248.20 million. As a group, equities analysts forecast that Procore Technologies, Inc. will post -0.64 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. DA Davidson reaffirmed a “buy” rating and issued a $95.00 price objective on shares of Procore Technologies in a research note on Thursday, March 14th. BMO Capital Markets lifted their target price on shares of Procore Technologies from $76.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, February 16th. Stifel Nicolaus boosted their target price on shares of Procore Technologies from $64.00 to $90.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. JMP Securities raised their price target on Procore Technologies from $81.00 to $93.00 and gave the company a “market outperform” rating in a research report on Friday, February 16th. Finally, Piper Sandler increased their target price on Procore Technologies from $77.00 to $80.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, Procore Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.86.

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.