Sei Investments Co. Buys 200,317 Shares of Procore Technologies, Inc. (NYSE:PCOR)

Sei Investments Co. increased its stake in Procore Technologies, Inc. (NYSE:PCOR) by 75.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 465,472 shares of the company’s stock after purchasing an additional 200,317 shares during the quarter. Sei Investments Co.’s holdings in Procore Technologies were worth $34,878,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Versant Capital Management Inc grew its holdings in Procore Technologies by 92.1% during the 4th quarter. Versant Capital Management Inc now owns 365 shares of the company’s stock valued at $27,000 after buying an additional 175 shares in the last quarter. Parkside Financial Bank & Trust grew its stake in Procore Technologies by 61.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 387 shares of the company’s stock valued at $29,000 after acquiring an additional 147 shares in the last quarter. V Square Quantitative Management LLC grew its stake in Procore Technologies by 37.8% during the fourth quarter. V Square Quantitative Management LLC now owns 591 shares of the company’s stock valued at $44,000 after acquiring an additional 162 shares in the last quarter. Hilltop National Bank bought a new stake in Procore Technologies during the 4th quarter worth approximately $53,000. Finally, Skandinaviska Enskilda Banken AB publ lifted its stake in Procore Technologies by 1,434.0% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 721 shares of the company’s stock worth $54,000 after purchasing an additional 674 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, CFO Howard Fu sold 1,190 shares of the business’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $67.00, for a total transaction of $79,730.00. Following the transaction, the chief financial officer now owns 146,160 shares in the company, valued at $9,792,720. The trade was a 0.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Connor Kevin J. O sold 5,128 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $73.62, for a total value of $377,523.36. Following the transaction, the director now owns 1,264,700 shares of the company’s stock, valued at approximately $93,107,214. This represents a 0.40 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 69,604 shares of company stock valued at $5,427,468 over the last three months. 29.00% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research analysts have recently commented on PCOR shares. Jefferies Financial Group upgraded shares of Procore Technologies from a “hold” rating to a “buy” rating and boosted their price target for the company from $80.00 to $100.00 in a research report on Monday, January 6th. Piper Sandler upped their target price on Procore Technologies from $90.00 to $110.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Mizuho lifted their price target on Procore Technologies from $65.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Macquarie cut their price objective on Procore Technologies from $93.00 to $75.00 and set a “neutral” rating for the company in a report on Thursday, March 13th. Finally, Barclays raised their target price on shares of Procore Technologies from $84.00 to $90.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.24.

Procore Technologies Stock Up 2.4 %

Shares of NYSE:PCOR opened at $72.07 on Tuesday. Procore Technologies, Inc. has a 12-month low of $49.46 and a 12-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 stock’s 50-day moving average price is $76.34 and its 200-day moving average price is $71.76. The stock has a market capitalization of $10.81 billion, a P/E ratio of -100.10 and a beta of 0.85.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings results on Thursday, February 13th. The company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates 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. On average, equities analysts anticipate that Procore Technologies, Inc. will post -0.15 earnings per share 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.