US Bancorp DE Purchases 3,390 Shares of Procore Technologies, Inc. (NYSE:PCOR)

US Bancorp DE raised its position in Procore Technologies, Inc. (NYSE:PCOR) by 18.8% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 21,416 shares of the company’s stock after acquiring an additional 3,390 shares during the period. US Bancorp DE’s holdings in Procore Technologies were worth $1,605,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of the company. Assenagon Asset Management S.A. increased its position in shares of Procore Technologies by 99.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,861,024 shares of the company’s stock worth $214,377,000 after purchasing an additional 1,425,967 shares during the last quarter. Meritage Group LP increased its holdings in shares of Procore Technologies by 66.6% during the 3rd quarter. Meritage Group LP now owns 2,745,504 shares of the company’s stock worth $169,453,000 after acquiring an additional 1,098,019 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Procore Technologies by 29,376.1% during the 4th quarter. Principal Financial Group Inc. now owns 2,679,964 shares of the company’s stock worth $200,810,000 after acquiring an additional 2,670,872 shares during the last quarter. Janus Henderson Group PLC increased its holdings in shares of Procore Technologies by 128.7% during the 3rd quarter. Janus Henderson Group PLC now owns 2,305,041 shares of the company’s stock worth $142,267,000 after acquiring an additional 1,297,151 shares during the last quarter. Finally, Holocene Advisors LP increased its holdings in shares of Procore Technologies by 1.1% during the 3rd quarter. Holocene Advisors LP now owns 1,873,343 shares of the company’s stock worth $115,623,000 after acquiring an additional 21,234 shares during the last quarter. Institutional investors own 81.10% of the company’s stock.

Insider Activity

In other Procore Technologies news, Director Connor Kevin J. O sold 33,332 shares of Procore Technologies stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $81.93, for a total transaction of $2,730,890.76. Following the completion of the sale, the director now owns 1,282,648 shares of the company’s stock, valued at $105,087,350.64. The trade was a 2.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Iconiq Strategic Partners Ii, sold 1,074 shares of Procore Technologies 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 sale, the insider now directly owns 200 shares of the company’s stock, valued at approximately $17,480. This trade represents a 84.30 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 97,953 shares of company stock worth $7,924,469. 29.00% of the stock is owned by corporate insiders.

Procore Technologies Stock Performance

Shares of Procore Technologies stock opened at $73.33 on Friday. The business’s fifty day simple moving average is $77.88 and its 200 day simple moving average is $70.91. The firm has a market capitalization of $10.99 billion, a P/E ratio of -101.84 and a beta of 0.85. Procore Technologies, Inc. has a 12 month low of $49.46 and a 12 month high of $88.92. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03.

Procore Technologies (NYSE:PCOR) last released its earnings results 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). Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. The firm had revenue of $302.05 million during the quarter, compared to analysts’ expectations of $297.72 million. As a group, analysts anticipate that Procore Technologies, Inc. will post -0.15 EPS for the current year.

Analysts Set New Price Targets

A number of research firms recently weighed in on PCOR. BMO Capital Markets boosted their target price on Procore Technologies from $71.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Stifel Nicolaus boosted their price target on Procore Technologies from $84.00 to $93.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. JPMorgan Chase & Co. boosted 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. TD Cowen boosted their price target on Procore Technologies from $70.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Finally, Jefferies Financial Group upgraded Procore Technologies from a “hold” rating to a “buy” rating and upped their target price for the company from $80.00 to $100.00 in a research report on Monday, January 6th. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $89.94.

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.