Procore Technologies, Inc. (NYSE:PCOR) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. increased its stake in shares of Procore Technologies, Inc. (NYSE:PCOR) by 31.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 82,688 shares of the company’s stock after buying an additional 19,791 shares during the quarter. Victory Capital Management Inc. owned about 0.06% of Procore Technologies worth $6,196,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in PCOR. Charles Schwab Investment Management Inc. grew its stake in shares of Procore Technologies by 2.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 700,857 shares of the company’s stock worth $52,515,000 after purchasing an additional 18,554 shares in the last quarter. Sonoma Private Wealth LLC grew its stake in shares of Procore Technologies by 261.0% in the fourth quarter. Sonoma Private Wealth LLC now owns 19,366 shares of the company’s stock worth $1,451,000 after purchasing an additional 14,002 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in shares of Procore Technologies in the fourth quarter worth $56,000. Smartleaf Asset Management LLC grew its stake in shares of Procore Technologies by 155.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,635 shares of the company’s stock worth $123,000 after purchasing an additional 994 shares in the last quarter. Finally, US Bancorp DE grew its stake in shares of Procore Technologies by 18.8% in the fourth quarter. US Bancorp DE now owns 21,416 shares of the company’s stock worth $1,605,000 after purchasing an additional 3,390 shares in the last quarter. 81.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PCOR. Macquarie decreased their target price on Procore Technologies from $93.00 to $75.00 and set a “neutral” rating for the company in a research note on Thursday. Barclays raised their target price on Procore Technologies from $84.00 to $90.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. UBS Group raised their target price on Procore Technologies from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, February 14th. The Goldman Sachs Group upped their target price on Procore Technologies from $73.00 to $83.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Finally, Stifel Nicolaus upped their target price on Procore Technologies from $84.00 to $93.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Four research analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Procore Technologies currently has an average rating of “Moderate Buy” and an average target price of $90.24.

Insider Activity at Procore Technologies

In other Procore Technologies news, insider Benjamin C. Singer sold 1,500 shares of Procore Technologies stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $76.18, for a total value of $114,270.00. Following the completion of the sale, the insider now owns 84,539 shares of the company’s stock, valued at approximately $6,440,181.02. The trade was a 1.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Iconiq Strategic Partners Ii, sold 1,074 shares of Procore Technologies stock in a transaction on Wednesday, February 19th. The stock was 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 disclosure for this sale can be found here. Insiders sold 69,657 shares of company stock valued at $5,442,199 over the last 90 days. Corporate insiders own 29.00% of the company’s stock.

Procore Technologies Stock Up 3.8 %

PCOR opened at $68.28 on Friday. The stock has a market cap of $10.24 billion, a PE ratio of -94.83 and a beta of 0.85. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03. Procore Technologies, Inc. has a 52 week low of $49.46 and a 52 week high of $88.92. The business’s fifty day simple moving average is $77.06 and its 200 day simple moving average is $71.08.

Procore Technologies (NYSE:PCOR) last posted its earnings results on Thursday, February 13th. The company reported ($0.35) earnings per share 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 for the quarter, compared to analysts’ expectations of $297.72 million. As a group, research analysts expect that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

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.