Envestnet Portfolio Solutions Inc. Has $599,000 Position in Procore Technologies, Inc. (NYSE:PCOR)

Envestnet Portfolio Solutions Inc. boosted its position in Procore Technologies, Inc. (NYSE:PCOR) by 99.8% during the fourth quarter, HoldingsChannel.com reports. The fund owned 7,991 shares of the company’s stock after buying an additional 3,991 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in Procore Technologies were worth $599,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Versant Capital Management Inc boosted its holdings in shares of Procore Technologies by 92.1% in the 4th quarter. Versant Capital Management Inc now owns 365 shares of the company’s stock valued at $27,000 after purchasing an additional 175 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in shares of Procore Technologies by 61.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 387 shares of the company’s stock worth $29,000 after buying an additional 147 shares during the last quarter. V Square Quantitative Management LLC boosted its stake in Procore Technologies by 37.8% in the fourth quarter. V Square Quantitative Management LLC now owns 591 shares of the company’s stock valued at $44,000 after buying an additional 162 shares in the last quarter. Hilltop National Bank bought a new position in Procore Technologies in the fourth quarter valued at about $53,000. Finally, Skandinaviska Enskilda Banken AB publ raised its stake in Procore Technologies by 1,434.0% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 721 shares of the company’s stock worth $54,000 after acquiring an additional 674 shares in the last quarter. 81.10% of the stock is owned by institutional investors.

Procore Technologies Trading Up 2.4 %

PCOR opened at $72.07 on Tuesday. Procore Technologies, Inc. has a twelve month low of $49.46 and a twelve month high of $88.92. The company has a fifty day moving average of $76.34 and a 200-day moving average of $71.76. The stock has a market cap of $10.81 billion, a PE ratio of -100.10 and a beta of 0.85. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings results on Thursday, February 13th. The company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.46). The business had revenue of $302.05 million for the quarter, compared to analyst estimates of $297.72 million. Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. On average, sell-side analysts predict that Procore Technologies, Inc. will post -0.15 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder Iconiq Strategic Partners Ii, sold 1,074 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $87.40, for a total value of $93,867.60. Following the completion of the sale, the insider now directly owns 200 shares of the company’s stock, valued at $17,480. The trade was a 84.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Connor Kevin J. O sold 5,128 shares of the stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $73.62, for a total value of $377,523.36. Following the completion of the transaction, the director now owns 1,264,700 shares in the company, valued at approximately $93,107,214. The trade was a 0.40 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 69,604 shares of company stock worth $5,427,468. 29.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the stock. KeyCorp lifted their price target on shares of Procore Technologies from $85.00 to $96.00 and gave the company an “overweight” rating in a report on Friday, February 14th. UBS Group upped their price target on shares of Procore Technologies from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Jefferies Financial Group raised Procore Technologies from a “hold” rating to a “buy” rating and raised their price objective for the company from $80.00 to $100.00 in a report on Monday, January 6th. JMP Securities upped their target price on Procore Technologies from $90.00 to $95.00 and gave the stock a “market outperform” rating in a report on Tuesday, February 18th. Finally, Barclays lifted their price target on Procore Technologies from $84.00 to $90.00 and gave the company an “equal weight” rating in a research note on Friday, February 14th. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Procore Technologies has an average rating of “Moderate Buy” and a consensus target price of $90.24.

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.