Skandinaviska Enskilda Banken AB publ Grows Holdings in Procore Technologies, Inc. (NYSE:PCOR)

Skandinaviska Enskilda Banken AB publ increased its position in Procore Technologies, Inc. (NYSE:PCOR) by 1,434.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 721 shares of the company’s stock after acquiring an additional 674 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Procore Technologies were worth $54,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in PCOR. Principal Financial Group Inc. increased its holdings in Procore Technologies by 29,376.1% in the 4th quarter. Principal Financial Group Inc. now owns 2,679,964 shares of the company’s stock worth $200,810,000 after acquiring an additional 2,670,872 shares in the last quarter. Wasatch Advisors LP grew its holdings in Procore Technologies by 27,239.5% during the 3rd quarter. Wasatch Advisors LP now owns 1,581,318 shares of the company’s stock valued at $97,599,000 after buying an additional 1,575,534 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in Procore Technologies by 99.4% during 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 buying an additional 1,425,967 shares in the last quarter. PointState Capital LP purchased a new stake in Procore Technologies during the 3rd quarter valued at approximately $81,306,000. Finally, Janus Henderson Group PLC grew its holdings in Procore Technologies by 128.7% during the 3rd quarter. Janus Henderson Group PLC now owns 2,305,041 shares of the company’s stock valued at $142,267,000 after buying an additional 1,297,151 shares in the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CRO Lawrence Joseph Stack sold 12,000 shares of the business’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $82.92, for a total transaction of $995,040.00. Following the completion of the sale, the executive now directly owns 161,368 shares of the company’s stock, valued at approximately $13,380,634.56. The trade was a 6.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Benjamin C. Singer sold 1,500 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $76.18, for a total transaction of $114,270.00. Following the completion of the sale, the insider now directly owns 84,539 shares of the company’s stock, valued at approximately $6,440,181.02. This trade represents a 1.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 69,657 shares of company stock valued at $5,442,199. 29.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

PCOR has been the subject of a number of research analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Procore Technologies from $85.00 to $92.00 and gave the company an “overweight” rating in a report on Monday, December 9th. 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 report on Friday, November 22nd. The Goldman Sachs Group increased their price objective on shares of Procore Technologies from $73.00 to $83.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Jefferies Financial Group raised shares of Procore Technologies from a “hold” rating to a “buy” rating and increased their price objective for the company from $80.00 to $100.00 in a report on Monday, January 6th. Finally, Macquarie cut their target price on shares of Procore Technologies from $93.00 to $75.00 and set a “neutral” rating for the company in a report on Thursday, March 13th. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $90.24.

Procore Technologies Stock Down 1.6 %

Shares of PCOR opened at $68.58 on Wednesday. The company has a market cap of $10.28 billion, a PE ratio of -95.24 and a beta of 0.85. The business has a fifty day moving average of $76.74 and a 200 day moving average of $71.37. Procore Technologies, Inc. has a 52-week low of $49.46 and a 52-week high of $88.92. 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 (NYSE:PCOR) last issued its quarterly earnings results on Thursday, February 13th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.46). The company had revenue of $302.05 million during the quarter, compared to the consensus estimate of $297.72 million. Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. On average, sell-side analysts expect that Procore Technologies, Inc. will post -0.15 EPS 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.