Fred Alger Management LLC Has $3.62 Million Holdings in Procore Technologies, Inc. (NYSE:PCOR)

Fred Alger Management LLC decreased its position in Procore Technologies, Inc. (NYSE:PCOR) by 39.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 58,622 shares of the company’s stock after selling 37,809 shares during the period. Fred Alger Management LLC’s holdings in Procore Technologies were worth $3,618,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC lifted its stake in shares of Procore Technologies by 76.4% in the 3rd quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock valued at $25,000 after purchasing an additional 175 shares during the period. V Square Quantitative Management LLC bought a new stake in Procore Technologies in the third quarter worth approximately $26,000. Signaturefd LLC lifted its stake in Procore Technologies by 52.0% in the second quarter. Signaturefd LLC now owns 631 shares of the company’s stock valued at $42,000 after buying an additional 216 shares during the period. Rothschild Investment LLC bought a new position in shares of Procore Technologies during the 2nd quarter worth approximately $51,000. Finally, International Assets Investment Management LLC grew its position in shares of Procore Technologies by 6,069.2% during the 3rd quarter. International Assets Investment Management LLC now owns 802 shares of the company’s stock worth $49,000 after buying an additional 789 shares during the period. Institutional investors own 81.10% of the company’s stock.

Wall Street Analyst Weigh In

PCOR has been the subject of a number of research reports. JMP Securities reduced their price target on shares of Procore Technologies from $82.00 to $75.00 and set a “market outperform” rating for the company in a report on Thursday, October 31st. BMO Capital Markets upped their price target on Procore Technologies from $71.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, November 22nd. DA Davidson raised their price objective on Procore Technologies from $60.00 to $70.00 and gave the company a “neutral” rating in a research note on Friday, November 22nd. TD Cowen upped their target price on Procore Technologies from $70.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Finally, Scotiabank boosted their price target on shares of Procore Technologies from $70.00 to $85.00 and gave the company a “sector outperform” rating in a research note on Friday, November 22nd. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Procore Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $79.25.

Insider Buying and Selling

In related news, Director Connor Kevin J. O sold 8,974 shares of Procore Technologies stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $58.06, for a total value of $521,030.44. Following the sale, the director now owns 1,371,104 shares of the company’s stock, valued at approximately $79,606,298.24. The trade was a 0.65 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Craig F. Jr. Courtemanche sold 22,665 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $71.36, for a total value of $1,617,374.40. Following the completion of the sale, the chief executive officer now directly owns 770,458 shares of the company’s stock, valued at $54,979,882.88. This represents a 2.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 115,553 shares of company stock valued at $7,933,974. 29.00% of the stock is owned by insiders.

Procore Technologies Stock Performance

Procore Technologies stock opened at $81.20 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57. The company’s 50 day moving average price is $66.45 and its two-hundred day moving average price is $64.42. Procore Technologies, Inc. has a 52 week low of $49.46 and a 52 week high of $83.35.

Procore Technologies (NYSE:PCOR) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($0.11) earnings per share for the quarter, hitting the consensus estimate of ($0.11). The business had revenue of $295.89 million for the quarter, compared to analysts’ expectations of $287.42 million. Procore Technologies had a negative return on equity of 2.51% and a negative net margin of 6.59%. On average, research analysts predict that Procore Technologies, Inc. will post -0.23 EPS for the current 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.