Swiss National Bank Has $12.34 Million Stake in Procore Technologies, Inc. (NYSE:PCOR)

Swiss National Bank increased its position in shares of Procore Technologies, Inc. (NYSE:PCOR) by 7.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 200,000 shares of the company’s stock after purchasing an additional 14,700 shares during the period. Swiss National Bank owned approximately 0.13% of Procore Technologies worth $12,344,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in PCOR. Park Avenue Securities LLC lifted its holdings in shares of Procore Technologies by 16.9% during the second quarter. Park Avenue Securities LLC now owns 8,741 shares of the company’s stock worth $580,000 after buying an additional 1,266 shares in the last quarter. M&G Plc boosted its holdings in Procore Technologies by 12.4% in the 2nd quarter. M&G Plc now owns 120,626 shares of the company’s stock valued at $7,961,000 after purchasing an additional 13,334 shares during the period. Burney Co. acquired a new position in shares of Procore Technologies during the 1st quarter worth approximately $1,371,000. SG Americas Securities LLC increased its holdings in shares of Procore Technologies by 118.0% during the second quarter. SG Americas Securities LLC now owns 17,466 shares of the company’s stock worth $1,158,000 after purchasing an additional 9,454 shares during the period. Finally, Dragoneer Investment Group LLC raised its position in shares of Procore Technologies by 254.0% in the second quarter. Dragoneer Investment Group LLC now owns 2,243,431 shares of the company’s stock valued at $148,762,000 after buying an additional 1,609,607 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors.

Procore Technologies Stock Up 1.9 %

Shares of PCOR opened at $76.68 on Friday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57. Procore Technologies, Inc. has a 52 week low of $49.46 and a 52 week high of $83.35. The stock has a market capitalization of $11.40 billion, a price-to-earnings ratio of -153.36 and a beta of 0.71. The stock has a fifty day moving average of $64.19 and a 200-day moving average of $63.94.

Procore Technologies (NYSE:PCOR) last posted its earnings results on Wednesday, October 30th. The company reported ($0.11) EPS for the quarter, meeting 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 firm had revenue of $295.89 million during the quarter, compared to the consensus estimate of $287.42 million. As a group, sell-side analysts anticipate that Procore Technologies, Inc. will post -0.23 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Connor Kevin J. O sold 8,974 shares of the stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $58.06, for a total value of $521,030.44. Following the completion of the sale, the director now owns 1,371,104 shares of the company’s stock, valued at approximately $79,606,298.24. This represents a 0.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Craig F. Jr. Courtemanche sold 22,665 shares of Procore Technologies stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 770,458 shares in the company, valued at approximately $54,979,882.88. This represents a 2.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 109,053 shares of company stock worth $7,426,909 in the last ninety days. Company insiders own 29.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Stifel Nicolaus increased their price target on Procore Technologies from $70.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday. Baird R W upgraded Procore Technologies to a “strong-buy” rating in a research report on Tuesday, September 24th. Piper Sandler upped their price objective on shares of Procore Technologies from $70.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday. Robert W. Baird assumed 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. Finally, TD Cowen upped their price target on shares of Procore Technologies from $70.00 to $82.00 and gave the stock a “buy” rating in a report on Friday. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Procore Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $79.25.

About Procore Technologies

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.