Assetmark Inc. Has $4.10 Million Stock Position in Procore Technologies, Inc. (NYSE:PCOR)

Assetmark Inc. raised its holdings in Procore Technologies, Inc. (NYSE:PCOR) by 3.7% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 59,193 shares of the company’s stock after purchasing an additional 2,118 shares during the quarter. Assetmark Inc.’s holdings in Procore Technologies were worth $4,097,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of PCOR. Vanguard Group Inc. lifted its position 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 buying an additional 995,757 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Procore Technologies by 2.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,744,726 shares of the company’s stock valued at $309,926,000 after purchasing an additional 114,649 shares in the last quarter. Cadian Capital Management LP boosted its stake in shares of Procore Technologies by 9.1% in the 3rd quarter. Cadian Capital Management LP now owns 3,026,123 shares of the company’s stock valued at $197,666,000 after purchasing an additional 253,000 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Procore Technologies by 32.8% during the 3rd quarter. Invesco Ltd. now owns 2,398,257 shares of the company’s stock valued at $156,654,000 after purchasing an additional 592,318 shares during the last quarter. Finally, Cerity Partners LLC increased its position in Procore Technologies by 4,290.2% during the 4th quarter. Cerity Partners LLC now owns 1,334,194 shares of the company’s stock worth $92,353,000 after purchasing an additional 1,303,804 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PCOR. JMP Securities raised their target price on shares of Procore Technologies from $81.00 to $93.00 and gave the company a “market outperform” rating in a research report on Friday, February 16th. The Goldman Sachs Group boosted their price objective on Procore Technologies from $74.00 to $85.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Stifel Nicolaus lifted their price target on Procore Technologies from $64.00 to $90.00 and gave the company a “buy” rating in a research note on Friday, February 16th. JPMorgan Chase & Co. boosted their price target on Procore Technologies from $83.00 to $86.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Finally, Piper Sandler dropped their price objective on shares of Procore Technologies from $80.00 to $77.00 and set an “overweight” rating for the company in a report on Thursday, May 2nd. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, Procore Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $81.79.

Insider Transactions at Procore Technologies

In other Procore Technologies news, SVP William Fred Fleming, Jr. sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $77.25, for a total value of $386,250.00. Following the transaction, the senior vice president now directly owns 74,521 shares of the company’s stock, valued at $5,756,747.25. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Procore Technologies news, SVP William Fred Fleming, Jr. sold 5,000 shares of Procore Technologies stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $77.25, for a total value of $386,250.00. Following the completion of the sale, the senior vice president now directly owns 74,521 shares of the company’s stock, valued at $5,756,747.25. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Howard Fu sold 1,441 shares of the stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $71.02, for a total transaction of $102,339.82. Following the transaction, the chief financial officer now directly owns 192,178 shares in the company, valued at approximately $13,648,481.56. The disclosure for this sale can be found here. In the last ninety days, insiders sold 432,470 shares of company stock valued at $33,619,272. Corporate insiders own 39.20% of the company’s stock.

Procore Technologies Stock Down 2.0 %

Procore Technologies stock opened at $68.20 on Friday. The firm has a market cap of $9.98 billion, a price-to-earnings ratio of -71.04 and a beta of 0.78. Procore Technologies, Inc. has a 52-week low of $48.11 and a 52-week high of $83.35. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.60 and a current ratio of 1.61. The firm has a 50 day moving average price of $73.70 and a two-hundred day moving average price of $69.66.

Procore Technologies (NYSE:PCOR) last announced its earnings results on Wednesday, May 1st. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.15. The business had revenue of $269.43 million during the quarter, compared to the consensus estimate of $263.13 million. Procore Technologies had a negative net margin of 13.64% and a negative return on equity of 8.25%. Equities analysts predict that Procore Technologies, Inc. will post -0.35 EPS for the current year.

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.