Barclays PLC Grows Holdings in Procore Technologies, Inc. (NYSE:PCOR)

Barclays PLC raised its position in Procore Technologies, Inc. (NYSE:PCOR) by 49.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 69,012 shares of the company’s stock after buying an additional 22,734 shares during the period. Barclays PLC’s holdings in Procore Technologies were worth $4,259,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Meritage Group LP boosted its holdings in Procore Technologies by 66.6% in the third quarter. Meritage Group LP now owns 2,745,504 shares of the company’s stock valued at $169,453,000 after purchasing an additional 1,098,019 shares during the last quarter. XTX Topco Ltd grew its position in shares of Procore Technologies by 860.0% during the third quarter. XTX Topco Ltd now owns 35,903 shares of the company’s stock worth $2,216,000 after buying an additional 32,163 shares in the last quarter. DF Dent & Co. Inc. increased its stake in shares of Procore Technologies by 21.5% in the third quarter. DF Dent & Co. Inc. now owns 367,764 shares of the company’s stock worth $22,698,000 after buying an additional 65,090 shares during the last quarter. Washington Harbour Partners LP acquired a new stake in Procore Technologies in the third quarter valued at $1,771,000. Finally, State Street Corp boosted its stake in Procore Technologies by 13.2% during the 3rd quarter. State Street Corp now owns 1,810,895 shares of the company’s stock valued at $111,768,000 after acquiring an additional 211,590 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Mizuho boosted their target price on shares of Procore Technologies from $65.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Baird R W upgraded Procore Technologies to a “strong-buy” rating in a research note on Tuesday, September 24th. The Goldman Sachs Group lifted their target price on Procore Technologies from $73.00 to $83.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Canaccord Genuity Group upped their price target on Procore Technologies from $67.00 to $83.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Finally, Jefferies Financial Group lifted their price objective on shares of Procore Technologies from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Monday, November 18th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $84.24.

Insiders Place Their Bets

In other news, Director Connor Kevin J. O sold 6,410 shares of the company’s stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $81.26, for a total value of $520,876.60. Following the completion of the sale, the director now owns 1,269,828 shares in the company, valued at $103,186,223.28. This represents a 0.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP William Fred Fleming, Jr. sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $70.75, for a total value of $1,061,250.00. Following the transaction, the senior vice president now directly owns 75,120 shares of the company’s stock, valued at $5,314,740. This represents a 16.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 141,193 shares of company stock worth $10,364,826 over the last ninety days. Company insiders own 29.00% of the company’s stock.

Procore Technologies Stock Up 1.4 %

Shares of Procore Technologies stock opened at $76.53 on Friday. Procore Technologies, Inc. has a 1-year low of $49.46 and a 1-year high of $86.67. The company has a market capitalization of $11.38 billion, a P/E ratio of -153.06 and a beta of 0.82. The business’s fifty day moving average price is $72.46 and its two-hundred day moving average price is $65.64. 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 (NYSE:PCOR) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($0.11) earnings per share for the quarter, hitting the consensus estimate of ($0.11). The business had revenue of $295.89 million during the quarter, compared to the consensus estimate of $287.42 million. Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.51%. As a group, research analysts forecast that Procore Technologies, Inc. will post -0.23 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.