Stifel Financial Corp Raises Stock Position in Procore Technologies, Inc. (NYSE:PCOR)

Stifel Financial Corp raised its stake in shares of Procore Technologies, Inc. (NYSE:PCOR) by 10.1% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 118,447 shares of the company’s stock after purchasing an additional 10,834 shares during the quarter. Stifel Financial Corp owned approximately 0.08% of Procore Technologies worth $7,311,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. GAMMA Investing LLC grew its position in shares of Procore Technologies by 76.4% in the 3rd quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock worth $25,000 after buying an additional 175 shares during the period. V Square Quantitative Management LLC purchased a new stake in shares of Procore Technologies in the 3rd quarter worth about $26,000. Signaturefd LLC grew its position in shares of Procore Technologies by 52.0% in the 2nd quarter. Signaturefd LLC now owns 631 shares of the company’s stock worth $42,000 after buying an additional 216 shares during the period. Rothschild Investment LLC purchased a new stake in shares of Procore Technologies in the 2nd quarter worth about $51,000. Finally, International Assets Investment Management LLC grew its position in shares of Procore Technologies by 6,069.2% in the 3rd quarter. International Assets Investment Management LLC now owns 802 shares of the company’s stock worth $49,000 after buying an additional 789 shares during the period. 81.10% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on PCOR shares. Mizuho upped their price target on shares of Procore Technologies from $65.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday. Scotiabank upped their price target on shares of Procore Technologies from $70.00 to $85.00 and gave the stock a “sector outperform” rating in a research note on Friday, November 22nd. Barclays upped their price target on shares of Procore Technologies from $66.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Friday, November 22nd. The Goldman Sachs Group upped their price target on shares of Procore Technologies from $73.00 to $83.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Finally, UBS Group started coverage on shares of Procore Technologies in a research note on Monday, December 2nd. They issued a “buy” rating and a $105.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $83.71.

Insider Activity at Procore Technologies

In related news, CEO Craig F. Jr. Courtemanche sold 22,665 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was 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 directly owns 770,458 shares in the company, valued at $54,979,882.88. This trade represents a 2.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Connor Kevin J. O sold 33,332 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $81.93, for a total value of $2,730,890.76. Following the completion of the sale, the director now owns 1,282,648 shares of the company’s stock, valued at approximately $105,087,350.64. This represents a 2.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 155,295 shares of company stock valued at $11,185,742. 29.00% of the stock is owned by corporate insiders.

Procore Technologies Trading Down 3.4 %

Shares of PCOR opened at $78.82 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57. Procore Technologies, Inc. has a 1 year low of $49.46 and a 1 year high of $86.67. The company has a 50 day simple moving average of $70.80 and a two-hundred day simple moving average of $65.31. The firm has a market cap of $11.72 billion, a P/E ratio of -157.64 and a beta of 0.82.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.11) earnings per share (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 analyst estimates of $287.42 million. On average, equities analysts expect that Procore Technologies, Inc. will post -0.23 earnings per share for the current fiscal year.

Procore Technologies Company 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.