Quantinno Capital Management LP grew its stake in shares of Procore Technologies, Inc. (NYSE:PCOR – Free Report) by 69.0% in the 1st quarter, HoldingsChannel reports. The firm owned 131,050 shares of the company’s stock after acquiring an additional 53,504 shares during the quarter. Quantinno Capital Management LP’s holdings in Procore Technologies were worth $7,470,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Procore Technologies by 6.5% during the fourth quarter. Vanguard Group Inc. now owns 13,158,506 shares of the company’s stock valued at $957,150,000 after buying an additional 804,920 shares in the last quarter. Wasatch Advisors LP increased its position in shares of Procore Technologies by 6.8% in the third quarter. Wasatch Advisors LP now owns 4,972,025 shares of the company’s stock worth $362,560,000 after acquiring an additional 315,604 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of Procore Technologies by 4.0% during the fourth quarter. Wellington Management Group LLP now owns 3,539,062 shares of the company’s stock valued at $257,431,000 after acquiring an additional 137,171 shares during the period. Principal Financial Group Inc. raised its holdings in shares of Procore Technologies by 3.9% during the fourth quarter. Principal Financial Group Inc. now owns 3,428,825 shares of the company’s stock valued at $249,416,000 after acquiring an additional 127,256 shares during the period. Finally, Capital World Investors lifted its position in shares of Procore Technologies by 18.2% in the 4th quarter. Capital World Investors now owns 3,115,612 shares of the company’s stock valued at $226,630,000 after acquiring an additional 480,513 shares in the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.
Procore Technologies Stock Down 0.7%
Shares of NYSE:PCOR opened at $55.51 on Thursday. The firm has a fifty day moving average of $45.36 and a two-hundred day moving average of $51.42. Procore Technologies, Inc. has a 12-month low of $38.03 and a 12-month high of $82.32. The firm has a market capitalization of $8.43 billion, a P/E ratio of -213.48 and a beta of 0.70.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on PCOR shares. TD Cowen decreased their price objective on shares of Procore Technologies from $70.00 to $60.00 and set a “buy” rating for the company in a research note on Tuesday, July 28th. The Goldman Sachs Group cut their target price on shares of Procore Technologies from $80.00 to $70.00 and set a “buy” rating on the stock in a research note on Thursday, May 7th. Barclays increased their target price on Procore Technologies from $50.00 to $60.00 and gave the company an “overweight” rating in a report on Monday. Weiss Ratings reiterated a “sell (e+)” rating on shares of Procore Technologies in a report on Monday, July 6th. Finally, Jefferies Financial Group dropped their price target on Procore Technologies from $95.00 to $75.00 and set a “buy” rating on the stock in a research report on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, sixteen have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $70.44.
View Our Latest Stock Report on PCOR
Insiders Place Their Bets
In other news, Chairman Craig F. Jr. Courtemanche sold 56,122 shares of Procore Technologies stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $45.14, for a total transaction of $2,533,347.08. Following the completion of the sale, the chairman directly owned 919,704 shares in the company, valued at $41,515,438.56. The trade was a 5.75% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Connor Kevin J. O sold 15,386 shares of the business’s stock in a transaction that occurred on Monday, August 3rd. The shares were sold at an average price of $54.93, for a total value of $845,152.98. Following the completion of the sale, the director directly owned 946,746 shares of the company’s stock, valued at approximately $52,004,757.78. The trade was a 1.60% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 212,699 shares of company stock valued at $10,059,907 in the last three months. Insiders own 16.80% of the company’s stock.
Procore Technologies 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. It offers Preconstruction that facilitates collaboration between internal and external stakeholders during the planning, budgeting, estimating, bidding, and partner selection phase of a construction project; and Project Execution, which enables real-time collaboration, information storage, design, BIM model clash detection, and regulation compliance for teams on the jobsite and in the back office.
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