Bamco Inc. NY Purchases 441,256 Shares of Procore Technologies, Inc. (NYSE:PCOR)

Bamco Inc. NY increased its position in shares of Procore Technologies, Inc. (NYSE:PCOR) by 756.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 499,559 shares of the company’s stock after acquiring an additional 441,256 shares during the quarter. Bamco Inc. NY owned about 0.34% of Procore Technologies worth $41,049,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of PCOR. International Assets Investment Management LLC boosted its stake in Procore Technologies by 6,823.1% during the 4th quarter. International Assets Investment Management LLC now owns 900 shares of the company’s stock worth $62,000 after acquiring an additional 887 shares during the last quarter. Cullen Frost Bankers Inc. bought a new position in Procore Technologies in the fourth quarter valued at approximately $62,000. Advisors Asset Management Inc. lifted its stake in Procore Technologies by 26.2% in the first quarter. Advisors Asset Management Inc. now owns 1,254 shares of the company’s stock valued at $103,000 after buying an additional 260 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S lifted its stake in Procore Technologies by 30.7% in the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 1,266 shares of the company’s stock valued at $104,000 after buying an additional 297 shares in the last quarter. Finally, Covestor Ltd lifted its stake in Procore Technologies by 29.3% in the first quarter. Covestor Ltd now owns 1,324 shares of the company’s stock valued at $109,000 after buying an additional 300 shares in the last quarter. Institutional investors own 81.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Piper Sandler cut their price target on shares of Procore Technologies from $77.00 to $74.00 and set an “overweight” rating on the stock in a research note on Friday, July 12th. Canaccord Genuity Group cut their price target on shares of Procore Technologies from $95.00 to $80.00 and set a “buy” rating on the stock in a research note on Thursday, May 2nd. Mizuho reaffirmed a “neutral” rating and issued a $70.00 price target (down previously from $75.00) on shares of Procore Technologies in a research note on Tuesday, June 4th. Stifel Nicolaus cut their price target on shares of Procore Technologies from $90.00 to $85.00 and set a “buy” rating on the stock in a research note on Monday, July 8th. Finally, TD Cowen assumed coverage on shares of Procore Technologies in a report on Wednesday, June 12th. They issued a “buy” rating and a $85.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $80.67.

Insider Buying and Selling

In other Procore Technologies news, CFO Howard Fu sold 1,157 shares of the company’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $65.00, for a total value of $75,205.00. Following the transaction, the chief financial officer now directly owns 182,561 shares in the company, valued at $11,866,465. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other Procore Technologies news, CFO Howard Fu sold 1,157 shares of the company’s stock in a transaction on Friday, June 28th. The shares were sold at an average price of $65.00, for a total value of $75,205.00. Following the transaction, the chief financial officer now directly owns 182,561 shares in the company, valued at $11,866,465. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP William Fred Fleming, Jr. sold 3,188 shares of the company’s stock in a transaction on Wednesday, May 22nd. The shares were sold at an average price of $70.17, for a total transaction of $223,701.96. Following the completion of the transaction, the senior vice president now owns 87,248 shares in the company, valued at $6,122,192.16. The disclosure for this sale can be found here. Over the last three months, insiders have sold 309,511 shares of company stock worth $20,921,459. Insiders own 29.00% of the company’s stock.

Procore Technologies Stock Up 3.9 %

PCOR traded up $2.62 during trading on Friday, reaching $70.31. 939,465 shares of the stock were exchanged, compared to its average volume of 1,455,185. The stock has a market cap of $10.29 billion, a P/E ratio of -73.24 and a beta of 0.75. Procore Technologies, Inc. has a twelve month low of $48.11 and a twelve month high of $83.35. The stock’s 50 day moving average price is $66.93 and its two-hundred day moving average price is $71.47. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.60 and a current ratio of 1.61.

Procore Technologies (NYSE:PCOR) last issued its earnings results on Wednesday, May 1st. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.15. The business had revenue of $269.43 million for the quarter, compared to the consensus estimate of $263.13 million. Procore Technologies had a negative net margin of 13.64% and a negative return on equity of 8.25%. Equities analysts expect that Procore Technologies, Inc. will post -0.35 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.