Envestnet Portfolio Solutions Inc. Buys 3,991 Shares of Procore Technologies, Inc. (NYSE:PCOR)

Envestnet Portfolio Solutions Inc. boosted its stake in Procore Technologies, Inc. (NYSE:PCOR) by 99.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,991 shares of the company’s stock after acquiring an additional 3,991 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Procore Technologies were worth $599,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its holdings in shares of Procore Technologies by 92.1% in the fourth quarter. Versant Capital Management Inc now owns 365 shares of the company’s stock valued at $27,000 after purchasing an additional 175 shares in the last quarter. Parkside Financial Bank & Trust lifted its stake in Procore Technologies by 61.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 387 shares of the company’s stock valued at $29,000 after acquiring an additional 147 shares in the last quarter. V Square Quantitative Management LLC lifted its stake in Procore Technologies by 37.8% in the 4th quarter. V Square Quantitative Management LLC now owns 591 shares of the company’s stock valued at $44,000 after acquiring an additional 162 shares in the last quarter. Hilltop National Bank bought a new position in shares of Procore Technologies during the 4th quarter worth approximately $53,000. Finally, Skandinaviska Enskilda Banken AB publ grew its stake in shares of Procore Technologies by 1,434.0% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 721 shares of the company’s stock worth $54,000 after acquiring an additional 674 shares in the last quarter. 81.10% of the stock is owned by institutional investors and hedge funds.

Procore Technologies Stock Up 2.4 %

Shares of PCOR opened at $72.07 on Tuesday. Procore Technologies, Inc. has a 52 week low of $49.46 and a 52 week high of $88.92. The firm has a market cap of $10.81 billion, a P/E ratio of -100.10 and a beta of 0.85. The firm’s 50-day simple moving average is $76.34 and its 200 day simple moving average is $71.76. 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 (NYSE:PCOR) last issued its quarterly earnings data on Thursday, February 13th. The company reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.46). The firm had revenue of $302.05 million for the quarter, compared to the consensus estimate of $297.72 million. Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. On average, analysts forecast that Procore Technologies, Inc. will post -0.15 earnings per share for the current year.

Insiders Place Their Bets

In other Procore Technologies news, major shareholder Iconiq Strategic Partners Ii, sold 1,074 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $87.40, for a total transaction of $93,867.60. Following the transaction, the insider now owns 200 shares in the company, valued at $17,480. This represents a 84.30 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Howard Fu sold 8,000 shares of Procore Technologies stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $87.00, for a total transaction of $696,000.00. Following the completion of the sale, the chief financial officer now owns 156,188 shares of the company’s stock, valued at approximately $13,588,356. The trade was a 4.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 69,604 shares of company stock worth $5,427,468 in the last 90 days. Company insiders own 29.00% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on PCOR shares. UBS Group increased their target price on shares of Procore Technologies from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, February 14th. KeyCorp increased their price objective on shares of Procore Technologies from $85.00 to $96.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Robert W. Baird lifted their target price on Procore Technologies from $87.00 to $96.00 and gave the company an “outperform” rating in a research report on Thursday, December 12th. Jefferies Financial Group raised Procore Technologies from a “hold” rating to a “buy” rating and increased their price target for the company from $80.00 to $100.00 in a research report on Monday, January 6th. Finally, JMP Securities raised their price target on Procore Technologies from $90.00 to $95.00 and gave the company a “market outperform” rating in a research note on Tuesday, February 18th. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $90.24.

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.