Stifel Financial Corp Acquires 10,834 Shares of Procore Technologies, Inc. (NYSE:PCOR)

Stifel Financial Corp raised its holdings in shares of Procore Technologies, Inc. (NYSE:PCOR) by 10.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 118,447 shares of the company’s stock after purchasing an additional 10,834 shares during the quarter. Stifel Financial Corp’s holdings in Procore Technologies were worth $7,311,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Dragoneer Investment Group LLC raised its holdings in shares of Procore Technologies by 254.0% in the second quarter. Dragoneer Investment Group LLC now owns 2,243,431 shares of the company’s stock valued at $148,762,000 after acquiring an additional 1,609,607 shares in the last quarter. Wasatch Advisors LP raised its holdings in shares of Procore Technologies by 27,239.5% in the third quarter. Wasatch Advisors LP now owns 1,581,318 shares of the company’s stock valued at $97,599,000 after acquiring an additional 1,575,534 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of Procore Technologies in the third quarter valued at about $88,572,000. XN LP raised its holdings in shares of Procore Technologies by 101.1% in the second quarter. XN LP now owns 2,808,251 shares of the company’s stock valued at $186,215,000 after acquiring an additional 1,411,812 shares in the last quarter. Finally, PointState Capital LP bought a new stake in shares of Procore Technologies in the third quarter valued at about $81,306,000. 81.10% of the stock is currently owned by institutional investors.

Procore Technologies Trading Down 3.4 %

Shares of PCOR stock opened at $78.82 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57. The company has a market cap of $11.72 billion, a price-to-earnings ratio of -157.64 and a beta of 0.82. The stock has a 50 day simple moving average of $70.80 and a 200-day simple moving average of $65.31. Procore Technologies, Inc. has a 1-year low of $49.46 and a 1-year high of $86.67.

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

Analysts Set New Price Targets

PCOR has been the subject of several recent research reports. TD Cowen lifted their price objective on Procore Technologies from $70.00 to $82.00 and gave the company a “buy” rating in a report on Friday, November 22nd. Jefferies Financial Group lifted their target price on Procore Technologies from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Monday, November 18th. Mizuho lifted their target price on Procore Technologies from $65.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday. Robert W. Baird lifted their target price on Procore Technologies from $87.00 to $96.00 and gave the company an “outperform” rating in a research note on Thursday. Finally, Barclays lifted their target price on Procore Technologies from $66.00 to $78.00 and gave the company an “equal weight” rating in a research note on Friday, November 22nd. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Procore Technologies presently has an average rating of “Moderate Buy” and an average target price of $83.71.

Insider Buying and Selling

In related news, Director Connor Kevin J. O sold 5,128 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $58.48, for a total transaction of $299,885.44. Following the completion of the sale, the director now directly owns 1,360,848 shares in the company, valued at approximately $79,582,391.04. The trade was a 0.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Steven Scott Davis sold 9,671 shares of the business’s stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $65.00, for a total value of $628,615.00. Following the sale, the insider now owns 192,137 shares of the company’s stock, valued at $12,488,905. The trade was a 4.79 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 155,295 shares of company stock worth $11,185,742. 29.00% of the stock is owned by corporate insiders.

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.