Envestnet Asset Management Inc. Has $26.35 Million Stake in Procore Technologies, Inc. (NYSE:PCOR)

Envestnet Asset Management Inc. grew its holdings in Procore Technologies, Inc. (NYSE:PCOR) by 67.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 351,593 shares of the company’s stock after purchasing an additional 141,863 shares during the quarter. Envestnet Asset Management Inc. owned about 0.24% of Procore Technologies worth $26,345,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in PCOR. Versant Capital Management Inc raised its holdings in shares of Procore Technologies by 92.1% in the fourth quarter. Versant Capital Management Inc now owns 365 shares of the company’s stock valued at $27,000 after buying an additional 175 shares during the last quarter. Parkside Financial Bank & Trust increased its position in Procore Technologies by 61.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 387 shares of the company’s stock valued at $29,000 after acquiring an additional 147 shares in the last quarter. V Square Quantitative Management LLC raised its stake in shares of Procore Technologies by 37.8% in the fourth quarter. V Square Quantitative Management LLC now owns 591 shares of the company’s stock worth $44,000 after acquiring an additional 162 shares during the last quarter. Huntington National Bank lifted its position in shares of Procore Technologies by 161.6% during the fourth quarter. Huntington National Bank now owns 654 shares of the company’s stock worth $49,000 after purchasing an additional 404 shares in the last quarter. Finally, Hilltop National Bank bought a new stake in shares of Procore Technologies during the fourth quarter valued at approximately $53,000. Institutional investors own 81.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on PCOR shares. Stifel Nicolaus boosted their price objective on shares of Procore Technologies from $84.00 to $93.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Canaccord Genuity Group upped their price target on Procore Technologies from $83.00 to $97.00 and gave the company a “buy” rating in a research note on Friday, February 14th. JMP Securities raised their price target on Procore Technologies from $90.00 to $95.00 and gave the company a “market outperform” rating in a report on Tuesday, February 18th. Jefferies Financial Group dropped their price objective on Procore Technologies from $100.00 to $90.00 and set a “buy” rating for the company in a report on Monday, March 31st. Finally, UBS Group raised their target price on shares of Procore Technologies from $105.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Procore Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $89.24.

Procore Technologies Stock Down 0.4 %

NYSE:PCOR opened at $60.50 on Friday. The stock has a market cap of $9.07 billion, a price-to-earnings ratio of -84.03 and a beta of 0.90. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03. The stock has a 50-day moving average price of $71.63 and a two-hundred day moving average price of $72.26. Procore Technologies, Inc. has a 1 year low of $49.46 and a 1 year high of $88.92.

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

Insider Transactions at Procore Technologies

In other Procore Technologies news, major shareholder Iconiq Strategic Partners Ii, sold 1,074 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $87.40, for a total transaction of $93,867.60. Following the completion of the transaction, the insider now owns 200 shares of the company’s stock, valued at $17,480. This represents a 84.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Benjamin C. Singer sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $78.00, for a total transaction of $117,000.00. Following the transaction, the insider now directly owns 83,039 shares of the company’s stock, valued at $6,477,042. This represents a 1.77 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 77,304 shares of company stock valued at $5,863,827 over the last quarter. Corporate insiders own 29.00% 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.