Assenagon Asset Management S.A. Acquires 1,425,967 Shares of Procore Technologies, Inc. (NYSE:PCOR)

Assenagon Asset Management S.A. grew its stake in shares of Procore Technologies, Inc. (NYSE:PCOR) by 99.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,861,024 shares of the company’s stock after purchasing an additional 1,425,967 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Procore Technologies were worth $214,377,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Westfield Capital Management Co. LP increased its holdings in Procore Technologies by 39.2% in the 3rd quarter. Westfield Capital Management Co. LP now owns 966,215 shares of the company’s stock valued at $59,635,000 after acquiring an additional 272,030 shares during the last quarter. Barclays PLC grew its position in shares of Procore Technologies by 49.1% during the third quarter. Barclays PLC now owns 69,012 shares of the company’s stock valued at $4,259,000 after purchasing an additional 22,734 shares in the last quarter. Advantage Alpha Capital Partners LP increased its holdings in shares of Procore Technologies by 30.2% in the third quarter. Advantage Alpha Capital Partners LP now owns 126,783 shares of the company’s stock worth $7,825,000 after purchasing an additional 29,431 shares during the last quarter. Diversified Trust Co lifted its position in shares of Procore Technologies by 157.1% in the fourth quarter. Diversified Trust Co now owns 50,649 shares of the company’s stock worth $3,795,000 after buying an additional 30,948 shares in the last quarter. Finally, Pathstone Holdings LLC boosted its stake in Procore Technologies by 804.3% during the third quarter. Pathstone Holdings LLC now owns 145,802 shares of the company’s stock valued at $8,999,000 after buying an additional 129,679 shares during the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Insider Buying and Selling

In other Procore Technologies news, Director Connor Kevin J. O sold 5,128 shares of the company’s stock in a transaction on Tuesday, October 22nd. The stock was sold at an average price of $62.07, for a total value of $318,294.96. Following the completion of the sale, the director now directly owns 1,355,720 shares in the company, valued at approximately $84,149,540.40. This represents a 0.38 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Benjamin C. Singer sold 1,500 shares of the stock in a transaction on Monday, December 23rd. The stock was sold at an average price of $76.18, for a total value of $114,270.00. Following the transaction, the insider now directly owns 84,539 shares in the company, valued at $6,440,181.02. The trade was a 1.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 142,693 shares of company stock valued at $10,479,096 in the last 90 days. Company insiders own 29.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on PCOR. Piper Sandler upped their price objective on Procore Technologies from $70.00 to $90.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Mizuho boosted their price target on shares of Procore Technologies from $65.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Baird R W upgraded shares of Procore Technologies to a “strong-buy” rating in a research report on Tuesday, September 24th. 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 report on Friday, November 22nd. Finally, Jefferies Financial Group upgraded shares of Procore Technologies from a “hold” rating to a “buy” rating and upped their target price for the company from $80.00 to $100.00 in a research report on Monday, January 6th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $86.00.

Procore Technologies Trading Up 0.8 %

Shares of NYSE PCOR opened at $74.90 on Wednesday. Procore Technologies, Inc. has a fifty-two week low of $49.46 and a fifty-two week high of $86.67. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57. The company has a market cap of $11.13 billion, a price-to-earnings ratio of -149.80 and a beta of 0.83. The business’s 50 day moving average price is $76.72 and its 200-day moving average price is $67.00.

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