Liontrust Investment Partners LLP Purchases New Shares in Procore Technologies, Inc. $PCOR

Liontrust Investment Partners LLP acquired a new position in shares of Procore Technologies, Inc. (NYSE:PCOR) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 50,684 shares of the company’s stock, valued at approximately $3,468,000.

Other institutional investors have also modified their holdings of the company. US Bancorp DE lifted its position in Procore Technologies by 5.5% during the second quarter. US Bancorp DE now owns 21,638 shares of the company’s stock worth $1,480,000 after buying an additional 1,131 shares in the last quarter. Federated Hermes Inc. increased its stake in shares of Procore Technologies by 17.0% in the 2nd quarter. Federated Hermes Inc. now owns 304,219 shares of the company’s stock worth $20,815,000 after acquiring an additional 44,105 shares during the last quarter. Fred Alger Management LLC raised its holdings in shares of Procore Technologies by 15.4% during the 1st quarter. Fred Alger Management LLC now owns 38,349 shares of the company’s stock worth $2,532,000 after acquiring an additional 5,129 shares during the period. Intellectus Partners LLC boosted its position in shares of Procore Technologies by 135.3% during the 2nd quarter. Intellectus Partners LLC now owns 12,305 shares of the company’s stock valued at $842,000 after acquiring an additional 7,075 shares during the last quarter. Finally, GC Wealth Management RIA LLC purchased a new stake in shares of Procore Technologies in the second quarter valued at about $513,000. Institutional investors and hedge funds own 81.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on PCOR. Wall Street Zen raised shares of Procore Technologies from a “hold” rating to a “buy” rating in a research note on Saturday, November 8th. Berenberg Bank initiated coverage on shares of Procore Technologies in a research report on Friday, October 3rd. They set a “buy” rating and a $84.00 price target on the stock. DA Davidson upgraded Procore Technologies to a “hold” rating in a report on Friday, November 7th. Canaccord Genuity Group raised their target price on Procore Technologies from $85.00 to $90.00 and gave the stock a “buy” rating in a research note on Thursday, November 6th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Procore Technologies in a research report on Wednesday, October 8th. Thirteen investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Procore Technologies presently has an average rating of “Moderate Buy” and an average price target of $84.47.

Procore Technologies Stock Down 3.1%

Procore Technologies stock opened at $74.43 on Monday. The company has a market capitalization of $11.57 billion, a PE ratio of -88.61 and a beta of 0.90. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.33 and a current ratio of 1.33. Procore Technologies, Inc. has a fifty-two week low of $53.71 and a fifty-two week high of $88.92. The firm has a 50 day moving average price of $74.16 and a 200 day moving average price of $70.94.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings results on Wednesday, September 20th. The company reported ($0.19) EPS for the quarter. The firm had revenue of $172.21 million for the quarter. Procore Technologies had a negative return on equity of 6.18% and a negative net margin of 9.84%. Research analysts expect that Procore Technologies, Inc. will post -0.15 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Connor Kevin J. O sold 36,196 shares of Procore Technologies stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $78.06, for a total value of $2,825,459.76. Following the completion of the transaction, the director owned 1,071,749 shares in the company, valued at approximately $83,660,726.94. The trade was a 3.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kathryn Bueker sold 6,500 shares of the company’s stock in a transaction that occurred on Tuesday, November 11th. The stock was sold at an average price of $79.00, for a total transaction of $513,500.00. Following the sale, the director directly owned 13,481 shares in the company, valued at approximately $1,064,999. The trade was a 32.53% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 416,957 shares of company stock worth $30,494,876 over the last 90 days. 21.50% of the stock is owned by 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.