Eagle Asset Management Inc. Acquires Shares of 172,977 Procore Technologies, Inc. (NYSE:PCOR)

Eagle Asset Management Inc. acquired a new position in Procore Technologies, Inc. (NYSE:PCOR) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 172,977 shares of the company’s stock, valued at approximately $10,676,000. Eagle Asset Management Inc. owned 0.12% of Procore Technologies at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC raised its position in Procore Technologies by 76.4% during the third quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock valued at $25,000 after acquiring an additional 175 shares in the last quarter. V Square Quantitative Management LLC acquired a new stake in shares of Procore Technologies during the 3rd quarter worth approximately $26,000. Signaturefd LLC increased its holdings in shares of Procore Technologies by 52.0% during the 2nd quarter. Signaturefd LLC now owns 631 shares of the company’s stock valued at $42,000 after purchasing an additional 216 shares in the last quarter. Rothschild Investment LLC acquired a new position in shares of Procore Technologies in the 2nd quarter valued at $51,000. Finally, International Assets Investment Management LLC boosted its holdings in Procore Technologies by 6,069.2% during the third quarter. International Assets Investment Management LLC now owns 802 shares of the company’s stock worth $49,000 after buying an additional 789 shares in the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PCOR. Barclays lifted their price objective on shares of Procore Technologies from $66.00 to $78.00 and gave the company an “equal weight” rating in a report on Friday. Baird R W raised Procore Technologies to a “strong-buy” rating in a report on Tuesday, September 24th. Piper Sandler increased their price target on Procore Technologies from $70.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday. Stifel Nicolaus boosted their price objective on Procore Technologies from $70.00 to $84.00 and gave the company a “buy” rating in a research report on Friday. Finally, JMP Securities decreased their target price on Procore Technologies from $82.00 to $75.00 and set a “market outperform” rating on the stock in a research report on Thursday, October 31st. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Procore Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $79.25.

Procore Technologies Stock Performance

PCOR opened at $76.68 on Friday. Procore Technologies, Inc. has a twelve month low of $49.46 and a twelve month high of $83.35. The firm has a market capitalization of $11.40 billion, a PE ratio of -153.36 and a beta of 0.71. 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 firm’s 50-day moving average price is $64.19 and its 200 day moving average price is $63.94.

Procore Technologies (NYSE:PCOR) last issued its earnings results on Wednesday, October 30th. The company reported ($0.11) earnings per share for the quarter, hitting the consensus estimate 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 analysts’ expectations of $287.42 million. As a group, sell-side analysts expect that Procore Technologies, Inc. will post -0.23 EPS for the current fiscal year.

Insider Buying and Selling at Procore Technologies

In other Procore Technologies news, Director Connor Kevin J. O sold 8,974 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $58.06, for a total value of $521,030.44. Following the transaction, the director now directly owns 1,371,104 shares in the company, valued at $79,606,298.24. The trade was a 0.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Steven Scott Davis sold 9,671 shares of the firm’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $65.00, for a total transaction of $628,615.00. Following the sale, the insider now owns 192,137 shares of the company’s stock, valued at $12,488,905. This represents a 4.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 109,053 shares of company stock worth $7,426,909 in the last three months. 29.00% of the stock is owned by corporate insiders.

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.