Procore Technologies, Inc. (NYSE:PCOR) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. grew its stake in shares of Procore Technologies, Inc. (NYSE:PCOR) by 4.0% during the third quarter, Holdings Channel reports. The firm owned 62,897 shares of the company’s stock after purchasing an additional 2,432 shares during the period. Victory Capital Management Inc.’s holdings in Procore Technologies were worth $3,882,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of PCOR. Dragoneer Investment Group LLC lifted its holdings in shares of Procore Technologies by 254.0% in the 2nd quarter. Dragoneer Investment Group LLC now owns 2,243,431 shares of the company’s stock valued at $148,762,000 after purchasing an additional 1,609,607 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in Procore Technologies during the third quarter worth approximately $88,572,000. XN LP lifted its stake in Procore Technologies by 101.1% in the second quarter. XN LP now owns 2,808,251 shares of the company’s stock valued at $186,215,000 after buying an additional 1,411,812 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Procore Technologies by 1,016.0% in the second quarter. Millennium Management LLC now owns 914,534 shares of the company’s stock valued at $60,643,000 after acquiring an additional 832,583 shares during the period. Finally, RGM Capital LLC purchased a new position in shares of Procore Technologies during the second quarter worth approximately $44,203,000. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Procore Technologies Stock Up 1.9 %

Shares of Procore Technologies stock opened at $76.67 on Friday. The company has a fifty day moving average price of $64.19 and a 200 day moving average price of $63.98. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03. Procore Technologies, Inc. has a twelve month low of $49.46 and a twelve month high of $83.35. The stock has a market cap of $11.40 billion, a price-to-earnings ratio of -153.34 and a beta of 0.71.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($0.11) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.11). The business had revenue of $295.89 million during the quarter, compared to analyst estimates of $287.42 million. Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.51%. Equities research analysts forecast that Procore Technologies, Inc. will post -0.23 earnings per share for the current fiscal year.

Insider Transactions at Procore Technologies

In related news, CEO Craig F. Jr. Courtemanche sold 22,665 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $71.36, for a total transaction of $1,617,374.40. Following the completion of the transaction, the chief executive officer now owns 770,458 shares in the company, valued at $54,979,882.88. The trade was a 2.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Howard Fu sold 1,500 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $71.75, for a total transaction of $107,625.00. Following the transaction, the chief financial officer now owns 171,997 shares of the company’s stock, valued at $12,340,784.75. This represents a 0.86 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 109,053 shares of company stock valued at $7,426,909. Insiders own 29.00% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on PCOR shares. JMP Securities decreased their target price on shares of Procore Technologies from $82.00 to $75.00 and set a “market outperform” rating for the company in a research note on Thursday, October 31st. Macquarie reiterated a “neutral” rating and issued a $70.00 target price on shares of Procore Technologies in a research note on Tuesday, July 30th. Scotiabank lifted their price objective on shares of Procore Technologies from $70.00 to $85.00 and gave the company a “sector outperform” rating in a research report on Friday. BMO Capital Markets upped their price objective on shares of Procore Technologies from $71.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday. Finally, Robert W. Baird began coverage on shares of Procore Technologies in a report on Tuesday, September 24th. They issued an “outperform” rating and a $73.00 target price on the stock. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $79.25.

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.