Eagle Asset Management Inc. Makes New Investment in Procore Technologies, Inc. (NYSE:PCOR)

Eagle Asset Management Inc. acquired a new stake in Procore Technologies, Inc. (NYSE:PCOR) in the 3rd quarter, HoldingsChannel reports. The fund acquired 172,977 shares of the company’s stock, valued at approximately $10,676,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. CIBC Asset Management Inc boosted its position in Procore Technologies by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 4,204 shares of the company’s stock valued at $259,000 after buying an additional 143 shares during the period. Tanager Wealth Management LLP grew its stake in Procore Technologies by 1.2% during the 2nd quarter. Tanager Wealth Management LLP now owns 12,579 shares of the company’s stock worth $834,000 after purchasing an additional 150 shares in the last quarter. GAMMA Investing LLC grew its stake in Procore Technologies by 76.4% during the 3rd quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock worth $25,000 after purchasing an additional 175 shares in the last quarter. Taylor Frigon Capital Management LLC increased its holdings in Procore Technologies by 0.3% during the 2nd quarter. Taylor Frigon Capital Management LLC now owns 53,845 shares of the company’s stock worth $3,570,000 after purchasing an additional 180 shares during the period. Finally, Signaturefd LLC raised its position in Procore Technologies by 52.0% in the 2nd quarter. Signaturefd LLC now owns 631 shares of the company’s stock valued at $42,000 after purchasing an additional 216 shares in the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on PCOR. JPMorgan Chase & Co. upped their target price on shares of Procore Technologies from $75.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday. BMO Capital Markets increased their price objective on shares of Procore Technologies from $71.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday. KeyCorp raised their price objective on shares of Procore Technologies from $68.00 to $85.00 and gave the company an “overweight” rating in a report on Friday. Canaccord Genuity Group boosted their target price on shares of Procore Technologies from $67.00 to $83.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Piper Sandler raised their price target on Procore Technologies from $70.00 to $90.00 and gave the company an “overweight” rating in a research note on Friday. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $79.25.

Insiders Place Their Bets

In other news, CEO Craig F. Jr. Courtemanche sold 22,665 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $71.36, for a total value of $1,617,374.40. Following the completion of the sale, the chief executive officer now owns 770,458 shares in the company, valued at approximately $54,979,882.88. This trade represents a 2.86 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP William Fred Fleming, Jr. sold 15,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $70.75, for a total transaction of $1,061,250.00. Following the transaction, the senior vice president now owns 75,120 shares in the company, valued at approximately $5,314,740. This trade represents a 16.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 109,053 shares of company stock valued at $7,426,909. 29.00% of the stock is owned by company insiders.

Procore Technologies Stock Up 1.9 %

PCOR stock opened at $76.68 on Friday. Procore Technologies, Inc. has a 12 month low of $49.46 and a 12 month high of $83.35. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57. The company has a market cap of $11.40 billion, a price-to-earnings ratio of -153.36 and a beta of 0.71. The company has a fifty day moving average price of $64.19 and a 200 day moving average price of $63.94.

Procore Technologies (NYSE:PCOR) last announced its earnings results on Wednesday, October 30th. The company reported ($0.11) EPS for the quarter, meeting analysts’ consensus estimates of ($0.11). Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.51%. The business had revenue of $295.89 million during the quarter, compared to analysts’ expectations of $287.42 million. Sell-side analysts expect that Procore Technologies, Inc. will post -0.23 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.