Procore Technologies, Inc. (NYSE:PCOR) Shares Bought by GW&K Investment Management LLC

GW&K Investment Management LLC increased its stake in Procore Technologies, Inc. (NYSE:PCOR) by 0.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 832,126 shares of the company’s stock after buying an additional 6,582 shares during the period. GW&K Investment Management LLC’s holdings in Procore Technologies were worth $62,351,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of PCOR. Assenagon Asset Management S.A. boosted its position in shares of Procore Technologies by 99.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,861,024 shares of the company’s stock valued at $214,377,000 after purchasing an additional 1,425,967 shares during the period. Meritage Group LP lifted its stake in Procore Technologies by 66.6% during the third quarter. Meritage Group LP now owns 2,745,504 shares of the company’s stock valued at $169,453,000 after buying an additional 1,098,019 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of 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 buying an additional 2,670,872 shares during the period. Janus Henderson Group PLC increased its position in shares of Procore Technologies by 128.7% in the third quarter. Janus Henderson Group PLC now owns 2,305,041 shares of the company’s stock worth $142,267,000 after acquiring an additional 1,297,151 shares in the last quarter. Finally, Holocene Advisors LP raised its holdings in shares of Procore Technologies by 1.1% during the third quarter. Holocene Advisors LP now owns 1,873,343 shares of the company’s stock valued at $115,623,000 after acquiring an additional 21,234 shares during the period. 81.10% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO Howard Fu sold 8,000 shares of the company’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $87.00, for a total transaction of $696,000.00. Following the completion of the sale, the chief financial officer now directly owns 156,188 shares of the company’s stock, valued at approximately $13,588,356. This represents a 4.87 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CRO Lawrence Joseph Stack sold 12,000 shares of Procore Technologies stock in a transaction on Friday, February 21st. The stock was sold at an average price of $82.92, for a total transaction of $995,040.00. Following the completion of the transaction, the executive now owns 161,368 shares in the company, valued at $13,380,634.56. This trade represents a 6.92 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 95,311 shares of company stock valued at $7,720,903. Insiders own 29.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Canaccord Genuity Group raised their price objective 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. Robert W. Baird raised their target price on Procore Technologies from $87.00 to $96.00 and gave the stock an “outperform” rating in a research report on Thursday, December 12th. Piper Sandler upped their price target on Procore Technologies from $90.00 to $110.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. BMO Capital Markets increased their price objective on Procore Technologies from $71.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. Finally, UBS Group lifted their target price on Procore Technologies from $105.00 to $110.00 and gave the company a “buy” 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $89.94.

Procore Technologies Stock Performance

Shares of PCOR opened at $75.84 on Friday. The firm has a market cap of $11.27 billion, a price-to-earnings ratio of -105.33 and a beta of 0.84. The company’s fifty day moving average is $78.20 and its 200-day moving average is $70.08. 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, Inc. has a 12 month low of $49.46 and a 12 month high of $88.92.

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 business had revenue of $302.05 million for the quarter, compared to analyst estimates of $297.72 million. Equities analysts expect that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal 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.