Asset Management One Co. Ltd. Purchases New Stake in Procore Technologies, Inc. (NYSE:PCOR)

Asset Management One Co. Ltd. purchased a new stake in Procore Technologies, Inc. (NYSE:PCOR) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 3,777 shares of the company’s stock, valued at approximately $265,000.

Other large investors have also added to or reduced their stakes in the company. IFP Advisors Inc grew its holdings in Procore Technologies by 2,600.0% in the 3rd quarter. IFP Advisors Inc now owns 378 shares of the company’s stock valued at $25,000 after buying an additional 364 shares in the last quarter. PNC Financial Services Group Inc. acquired a new position in Procore Technologies in the 1st quarter valued at $31,000. BluePath Capital Management LLC acquired a new position in Procore Technologies in the 3rd quarter valued at $36,000. Householder Group Estate & Retirement Specialist LLC acquired a new position in Procore Technologies in the 3rd quarter valued at $40,000. Finally, Captrust Financial Advisors grew its holdings in Procore Technologies by 55.8% in the 2nd quarter. Captrust Financial Advisors now owns 916 shares of the company’s stock valued at $42,000 after buying an additional 328 shares in the last quarter. Institutional investors own 81.10% of the company’s stock.

Procore Technologies Stock Performance

NYSE:PCOR opened at $73.44 on Friday. The stock’s 50-day simple moving average is $77.23 and its 200 day simple moving average is $68.57. The firm has a market capitalization of $10.64 billion, a PE ratio of -55.22 and a beta of 0.71. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.04. Procore Technologies, Inc. has a twelve month low of $48.11 and a twelve month high of $83.35.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings data on Thursday, February 15th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.13. The business had revenue of $260.04 million for the quarter, compared to analyst estimates of $248.20 million. Procore Technologies had a negative return on equity of 12.26% and a negative net margin of 19.97%. On average, analysts anticipate that Procore Technologies, Inc. will post -0.64 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

PCOR has been the topic of a number of research reports. KeyCorp upped their price objective on Procore Technologies from $85.00 to $95.00 and gave the company an “overweight” rating in a report on Friday, February 16th. Stifel Nicolaus upped their price objective on Procore Technologies from $64.00 to $90.00 and gave the company a “buy” rating in a report on Friday, February 16th. The Goldman Sachs Group upped their price objective on Procore Technologies from $74.00 to $85.00 and gave the company a “buy” rating in a report on Friday, February 16th. Piper Sandler increased their target price on Procore Technologies from $77.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, February 16th. Finally, DA Davidson reissued a “buy” rating and set a $95.00 target price on shares of Procore Technologies in a report on Thursday, March 14th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $81.86.

Insider Activity at Procore Technologies

In related news, CEO Craig F. Jr. Courtemanche sold 110,000 shares of the firm’s stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $80.00, for a total value of $8,800,000.00. Following the sale, the chief executive officer now directly owns 532,749 shares of the company’s stock, valued at $42,619,920. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Procore Technologies news, CEO Craig F. Jr. Courtemanche sold 65,246 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $73.90, for a total value of $4,821,679.40. Following the completion of the transaction, the chief executive officer now directly owns 748,247 shares in the company, valued at $55,295,453.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Craig F. Jr. Courtemanche sold 110,000 shares of the stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $80.00, for a total value of $8,800,000.00. Following the completion of the transaction, the chief executive officer now owns 532,749 shares of the company’s stock, valued at $42,619,920. The disclosure for this sale can be found here. Insiders have sold 467,373 shares of company stock valued at $36,589,678 over the last ninety days. 39.20% of the stock is owned by corporate 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.