Assenagon Asset Management S.A. Takes Position in Procore Technologies, Inc. (NYSE:PCOR)

Assenagon Asset Management S.A. acquired a new stake in Procore Technologies, Inc. (NYSE:PCORFree Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 5,368 shares of the company’s stock, valued at approximately $351,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. IFP Advisors Inc increased its stake in Procore Technologies by 2,600.0% in the third quarter. IFP Advisors Inc now owns 378 shares of the company’s stock valued at $25,000 after purchasing an additional 364 shares during the last quarter. PNC Financial Services Group Inc. purchased a new stake in Procore Technologies in the first quarter valued at $31,000. Headlands Technologies LLC boosted its stake in Procore Technologies by 61.7% in the second quarter. Headlands Technologies LLC now owns 527 shares of the company’s stock valued at $34,000 after acquiring an additional 201 shares in the last quarter. BluePath Capital Management LLC purchased a new position in shares of Procore Technologies during the third quarter worth about $36,000. Finally, Householder Group Estate & Retirement Specialist LLC acquired a new stake in shares of Procore Technologies during the third quarter worth about $40,000. Institutional investors and hedge funds own 81.10% of the company’s stock.

Insider Activity at Procore Technologies

In other Procore Technologies news, SVP William Fred Fleming, Jr. sold 3,381 shares of the company’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $55.95, for a total value of $189,166.95. Following the sale, the senior vice president now owns 77,809 shares of the company’s stock, valued at $4,353,413.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Procore Technologies news, CEO Craig F. Jr. Courtemanche sold 29,514 shares of the stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $55.95, for a total transaction of $1,651,308.30. Following the sale, the chief executive officer now owns 813,493 shares in the company, valued at approximately $45,514,933.35. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP William Fred Fleming, Jr. sold 3,381 shares of the business’s stock in a transaction on Wednesday, November 22nd. The stock was sold at an average price of $55.95, for a total value of $189,166.95. Following the completion of the transaction, the senior vice president now directly owns 77,809 shares of the company’s stock, valued at $4,353,413.55. The disclosure for this sale can be found here. Insiders sold 320,906 shares of company stock valued at $19,933,398 in the last ninety days. Corporate insiders own 39.20% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on PCOR. Mizuho reduced their price target on shares of Procore Technologies from $85.00 to $75.00 and set a “buy” rating for the company in a research report on Friday, November 3rd. JPMorgan Chase & Co. increased their target price on shares of Procore Technologies from $76.00 to $81.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 23rd. DA Davidson boosted their price target on Procore Technologies from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Monday. Jefferies Financial Group cut Procore Technologies from a “buy” rating to a “hold” rating and cut their price target for the stock from $90.00 to $55.00 in a research note on Thursday, November 2nd. Finally, Barclays reduced their target price on shares of Procore Technologies from $87.00 to $71.00 and set an “overweight” rating for the company in a research note on Thursday, November 2nd. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $75.33.

View Our Latest Research Report on PCOR

Procore Technologies Price Performance

PCOR stock opened at $72.54 on Thursday. The firm has a 50 day moving average of $67.45 and a 200-day moving average of $64.84. The company has a market cap of $10.41 billion, a price-to-earnings ratio of -44.23 and a beta of 0.67. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.04. Procore Technologies, Inc. has a 12-month low of $48.11 and a 12-month high of $76.86.

Procore Technologies Company Profile

(Free Report)

Procore Technologies, Inc provides 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. It offers Preconstruction that facilitates collaboration between internal and external stakeholders during the planning, budgeting, estimating, bidding, and partner selection phase of a construction project; and Project Management, which enables real-time collaboration, information storage, design, BIM model clash detection, and regulation compliance for teams on the jobsite and in the back office.

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Institutional Ownership by Quarter for Procore Technologies (NYSE:PCOR)

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