Procore Technologies, Inc. (NYSE:PCOR) Shares Bought by Natixis Advisors LLC

Natixis Advisors LLC boosted its stake in shares of Procore Technologies, Inc. (NYSE:PCOR) by 112.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 32,122 shares of the company’s stock after buying an additional 17,017 shares during the period. Natixis Advisors LLC’s holdings in Procore Technologies were worth $2,407,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. boosted its stake in Procore Technologies by 99.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,861,024 shares of the company’s stock worth $214,377,000 after buying an additional 1,425,967 shares during the last quarter. Meritage Group LP lifted its stake in shares of Procore Technologies by 66.6% in the 3rd 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. Principal Financial Group Inc. lifted its stake in shares of 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 valued at $200,810,000 after purchasing an additional 2,670,872 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of Procore Technologies by 128.7% in the 3rd quarter. Janus Henderson Group PLC now owns 2,305,041 shares of the company’s stock valued at $142,267,000 after purchasing an additional 1,297,151 shares during the last quarter. Finally, Holocene Advisors LP lifted its stake in shares of Procore Technologies by 1.1% in the 3rd quarter. Holocene Advisors LP now owns 1,873,343 shares of the company’s stock valued at $115,623,000 after purchasing an additional 21,234 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. Jefferies Financial Group raised Procore Technologies from a “hold” rating to a “buy” rating and upped their price target for the company from $80.00 to $100.00 in a research note on Monday, January 6th. Canaccord Genuity Group upped their price target on Procore Technologies from $83.00 to $97.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Macquarie decreased their price target on Procore Technologies from $93.00 to $75.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. JPMorgan Chase & Co. upped their price target on Procore Technologies from $85.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Finally, UBS Group increased their target price on Procore Technologies from $105.00 to $110.00 and gave the stock a “buy” rating in a research note on Friday, February 14th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Procore Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $90.24.

Procore Technologies Price Performance

Shares of NYSE PCOR opened at $70.37 on Monday. The stock’s 50-day moving average is $76.38 and its two-hundred day moving average is $71.64. 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, Inc. has a 1-year low of $49.46 and a 1-year high of $88.92. The company has a market cap of $10.55 billion, a price-to-earnings ratio of -97.73 and a beta of 0.85.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings results on Thursday, February 13th. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.46). Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. The company had revenue of $302.05 million for the quarter, compared to analysts’ expectations of $297.72 million. Analysts forecast that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Iconiq Strategic Partners Ii, sold 1,074 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $87.40, for a total value of $93,867.60. Following the transaction, the insider now owns 200 shares in the company, valued at approximately $17,480. This represents a 84.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Howard Fu sold 1,447 shares of the stock in a transaction dated Friday, March 21st. The shares were sold at an average price of $68.79, for a total value of $99,539.13. Following the completion of the transaction, the chief financial officer now owns 144,713 shares in the company, valued at approximately $9,954,807.27. The trade was a 0.99 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 69,604 shares of company stock worth $5,427,468. 29.00% of the stock is currently owned by insiders.

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.