Westfield Capital Management Co. LP Has $59.64 Million Holdings in Procore Technologies, Inc. (NYSE:PCOR)

Westfield Capital Management Co. LP increased its stake in shares of Procore Technologies, Inc. (NYSE:PCOR) by 39.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 966,215 shares of the company’s stock after buying an additional 272,030 shares during the quarter. Westfield Capital Management Co. LP’s holdings in Procore Technologies were worth $59,635,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC raised its holdings in Procore Technologies by 76.4% during the 3rd quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock valued at $25,000 after acquiring an additional 175 shares during the period. V Square Quantitative Management LLC bought a new position in shares of Procore Technologies in the 3rd quarter worth $26,000. Signaturefd LLC raised its position in 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 increased its position in shares of Procore Technologies by 6,069.2% in the third quarter. International Assets Investment Management LLC now owns 802 shares of the company’s stock valued at $49,000 after acquiring an additional 789 shares during the period. Finally, Rothschild Investment LLC purchased a new stake in Procore Technologies in the 2nd quarter worth approximately $51,000. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Procore Technologies Stock Up 1.9 %

Shares of NYSE PCOR opened at $76.68 on Monday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57. Procore Technologies, Inc. has a 12-month low of $49.46 and a 12-month high of $83.35. The firm has a 50 day moving average of $64.19 and a 200 day moving average of $63.92.

Procore Technologies (NYSE:PCOR) last announced its earnings results on Wednesday, October 30th. The company reported ($0.11) EPS for the quarter, hitting analysts’ consensus estimates of ($0.11). Procore Technologies had a negative return on equity of 2.51% and a negative net margin of 6.59%. The company had revenue of $295.89 million for the quarter, compared to analysts’ expectations of $287.42 million. Sell-side analysts expect that Procore Technologies, Inc. will post -0.23 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. BMO Capital Markets increased their target price on Procore Technologies from $71.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday. JPMorgan Chase & Co. raised their price objective on Procore Technologies from $75.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday. DA Davidson lifted their price target on Procore Technologies from $60.00 to $70.00 and gave the stock a “neutral” rating in a research report on Friday. Stifel Nicolaus increased their price objective on shares of Procore Technologies from $70.00 to $84.00 and gave the company a “buy” rating in a research report on Friday. Finally, Scotiabank raised their price objective on shares of Procore Technologies from $70.00 to $85.00 and gave the company a “sector outperform” rating in a research note on Friday. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Procore Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.25.

Insider Activity

In related news, CEO Craig F. Jr. Courtemanche sold 22,665 shares of Procore Technologies stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $71.36, for a total value of $1,617,374.40. Following the completion of the transaction, the chief executive officer now owns 770,458 shares in the company, valued at approximately $54,979,882.88. This trade represents a 2.86 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP William Fred Fleming, Jr. sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $70.75, for a total value of $1,061,250.00. Following the sale, the senior vice president now directly owns 75,120 shares in the company, valued at $5,314,740. The trade was a 16.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 109,053 shares of company stock worth $7,426,909 over the last 90 days. Corporate insiders own 29.00% of the company’s stock.

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.