Procore Technologies, Inc. (NYSE:PCOR) Shares Bought by State Street Corp

State Street Corp grew its holdings in Procore Technologies, Inc. (NYSE:PCOR) by 13.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,810,895 shares of the company’s stock after acquiring an additional 211,590 shares during the period. State Street Corp owned about 1.22% of Procore Technologies worth $111,768,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also modified their holdings of PCOR. Cetera Advisors LLC purchased a new stake in shares of Procore Technologies during the first quarter worth approximately $220,000. Raymond James & Associates increased its position in shares of Procore Technologies by 1.2% in the 2nd quarter. Raymond James & Associates now owns 46,596 shares of the company’s stock valued at $3,090,000 after purchasing an additional 544 shares during the last quarter. Lecap Asset Management Ltd. acquired a new stake in shares of Procore Technologies in the 2nd quarter valued at $1,894,000. Tanager Wealth Management LLP lifted its position in shares of Procore Technologies by 1.2% during the 2nd quarter. Tanager Wealth Management LLP now owns 12,579 shares of the company’s stock worth $834,000 after purchasing an additional 150 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Procore Technologies by 30.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 512,574 shares of the company’s stock worth $33,989,000 after purchasing an additional 120,199 shares during the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Canaccord Genuity Group raised their price target on Procore Technologies from $67.00 to $83.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Piper Sandler raised their target price on Procore Technologies from $70.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. The Goldman Sachs Group boosted their target price on Procore Technologies from $73.00 to $83.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. BMO Capital Markets increased their price target on shares of Procore Technologies from $71.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Finally, Stifel Nicolaus boosted their price objective on shares of Procore Technologies from $70.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Five research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $83.71.

Insider Activity

In other Procore Technologies news, Director Connor Kevin J. O sold 8,974 shares of the stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $58.06, for a total value of $521,030.44. Following the completion of the transaction, the director now directly owns 1,371,104 shares of the company’s stock, valued at approximately $79,606,298.24. This trade represents a 0.65 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP William Fred Fleming, Jr. sold 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $70.75, for a total value of $1,061,250.00. Following the sale, the senior vice president now directly owns 75,120 shares in the company, valued at $5,314,740. This trade represents a 16.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 155,295 shares of company stock valued at $11,185,742 in the last three months. 29.00% of the stock is currently owned by company insiders.

Procore Technologies Trading Down 3.4 %

PCOR stock opened at $78.82 on Monday. The company has a fifty day moving average of $70.80 and a 200-day moving average of $65.26. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57. Procore Technologies, Inc. has a one year low of $49.46 and a one year high of $86.67.

Procore Technologies (NYSE:PCOR) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.11) EPS for the quarter, meeting analysts’ consensus estimates of ($0.11). Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.51%. The firm had revenue of $295.89 million during the quarter, compared to the consensus estimate of $287.42 million. Research analysts forecast that Procore Technologies, Inc. will post -0.23 EPS for the current year.

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.