Stephens Investment Management Group LLC Purchases Shares of 305,226 Procore Technologies, Inc. $PCOR

Stephens Investment Management Group LLC bought a new position in shares of Procore Technologies, Inc. (NYSE:PCOR) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 305,226 shares of the company’s stock, valued at approximately $20,884,000. Stephens Investment Management Group LLC owned about 0.20% of Procore Technologies as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. boosted its holdings in Procore Technologies by 277.0% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 524 shares of the company’s stock valued at $35,000 after acquiring an additional 385 shares during the last quarter. SVB Wealth LLC acquired a new stake in shares of Procore Technologies during the first quarter worth about $49,000. Hilltop National Bank acquired a new stake in shares of Procore Technologies during the second quarter worth about $62,000. Signaturefd LLC raised its position in Procore Technologies by 53.4% in the 1st quarter. Signaturefd LLC now owns 1,203 shares of the company’s stock valued at $79,000 after buying an additional 419 shares during the last quarter. Finally, GAMMA Investing LLC increased its position in shares of Procore Technologies by 66.6% during the 1st quarter. GAMMA Investing LLC now owns 1,243 shares of the company’s stock worth $82,000 after purchasing an additional 497 shares during the last quarter. Institutional investors own 81.10% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. JMP Securities reissued a “market perform” rating and set a $95.00 target price on shares of Procore Technologies in a report on Friday, August 1st. DA Davidson initiated coverage on Procore Technologies in a research note on Monday, August 4th. They issued a “neutral” rating and a $70.00 price target for the company. Robert W. Baird boosted their price target on Procore Technologies from $83.00 to $88.00 and gave the company an “outperform” rating in a research note on Monday, July 28th. KeyCorp upped their target price on Procore Technologies from $77.00 to $81.00 and gave the company an “overweight” rating in a research report on Friday, August 1st. Finally, Piper Sandler reiterated an “overweight” rating and set a $82.00 target price on shares of Procore Technologies in a research report on Tuesday, October 14th. Fifteen analysts have rated the stock with a Buy rating, six have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $83.11.

Insider Activity at Procore Technologies

In related news, Director Connor Kevin J. O sold 7,692 shares of Procore Technologies stock in a transaction that occurred on Tuesday, August 19th. The stock was sold at an average price of $66.28, for a total transaction of $509,825.76. Following the transaction, the director owned 1,146,405 shares of the company’s stock, valued at $75,983,723.40. The trade was a 0.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Benjamin C. Singer sold 4,205 shares of Procore Technologies stock in a transaction on Thursday, August 21st. The stock was sold at an average price of $63.67, for a total value of $267,732.35. Following the sale, the insider owned 86,366 shares in the company, valued at $5,498,923.22. This trade represents a 4.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 29,910 shares of company stock valued at $2,063,634 over the last 90 days. Insiders own 21.50% of the company’s stock.

Procore Technologies Trading Down 2.8%

Shares of Procore Technologies stock opened at $72.60 on Thursday. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.29 and a current ratio of 1.29. Procore Technologies, Inc. has a 52 week low of $53.71 and a 52 week high of $88.92. The stock has a 50 day moving average price of $70.37 and a two-hundred day moving average price of $68.09. The stock has a market capitalization of $10.90 billion, a PE ratio of -75.63 and a beta of 0.90.

Procore Technologies (NYSE:PCOR) last announced its earnings results on Wednesday, September 20th. The company reported ($0.19) earnings per share (EPS) for the quarter. The company had revenue of $172.21 million for the quarter. Procore Technologies had a negative net margin of 11.58% and a negative return on equity of 7.66%. As a group, equities analysts anticipate 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.