Wasatch Advisors LP Purchases 1,575,534 Shares of Procore Technologies, Inc. (NYSE:PCOR)

Wasatch Advisors LP lifted its position in shares of Procore Technologies, Inc. (NYSE:PCOR) by 27,239.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,581,318 shares of the company’s stock after purchasing an additional 1,575,534 shares during the period. Wasatch Advisors LP owned 1.06% of Procore Technologies worth $97,599,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. GAMMA Investing LLC lifted its position in shares of Procore Technologies by 76.4% during the third quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock valued at $25,000 after purchasing an additional 175 shares in the last quarter. V Square Quantitative Management LLC bought a new position in shares of Procore Technologies during the third quarter valued at about $26,000. Signaturefd LLC lifted its position in shares of Procore Technologies by 52.0% during the second quarter. Signaturefd LLC now owns 631 shares of the company’s stock valued at $42,000 after purchasing an additional 216 shares in the last quarter. International Assets Investment Management LLC lifted its position in shares of Procore Technologies by 6,069.2% during the third quarter. International Assets Investment Management LLC now owns 802 shares of the company’s stock valued at $49,000 after purchasing an additional 789 shares in the last quarter. Finally, Rothschild Investment LLC bought a new position in shares of Procore Technologies during the second quarter valued at about $51,000. 81.10% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several brokerages have commented on PCOR. Robert W. Baird began coverage on shares of Procore Technologies in a research report on Tuesday, September 24th. They issued an “outperform” rating and a $73.00 price objective on the stock. TD Cowen lifted their price objective on shares of Procore Technologies from $70.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Scotiabank lifted their price objective on shares of Procore Technologies from $70.00 to $85.00 and gave the stock a “sector outperform” rating in a research report on Friday, November 22nd. JPMorgan Chase & Co. lifted their price objective on shares of Procore Technologies from $75.00 to $85.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Finally, Barclays lifted their price objective on shares of Procore Technologies from $66.00 to $78.00 and gave the stock an “equal weight” rating in a research report on Friday, November 22nd. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Procore Technologies has an average rating of “Moderate Buy” and an average price target of $79.25.

Procore Technologies Price Performance

Shares of NYSE:PCOR opened at $81.19 on Friday. The company has a 50 day moving average of $66.01 and a 200 day moving average of $64.33. The stock has a market cap of $12.07 billion, a P/E ratio of -162.38 and a beta of 0.71. Procore Technologies, Inc. has a 12 month low of $49.46 and a 12 month high of $83.35. 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 issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.11) EPS for the quarter, meeting the consensus estimate of ($0.11). The company had revenue of $295.89 million during the quarter, compared to analysts’ expectations of $287.42 million. Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.51%. As a group, sell-side analysts forecast that Procore Technologies, Inc. will post -0.23 EPS for the current fiscal year.

Insider Activity at Procore Technologies

In other Procore Technologies news, Director Connor Kevin J. O sold 8,974 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $58.06, for a total value of $521,030.44. Following the completion of the transaction, the director now owns 1,371,104 shares of the company’s stock, valued at $79,606,298.24. The trade was a 0.65 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Craig F. Jr. Courtemanche sold 22,665 shares of the business’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $71.36, for a total transaction of $1,617,374.40. Following the completion of the transaction, the chief executive officer now directly owns 770,458 shares of the company’s stock, valued at approximately $54,979,882.88. This represents a 2.86 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 115,553 shares of company stock valued at $7,933,974. Corporate insiders own 29.00% of the company’s stock.

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.