Procore Technologies, Inc. (NYSE:PCOR) Shares Sold by Loomis Sayles & Co. L P

Loomis Sayles & Co. L P lessened its stake in shares of Procore Technologies, Inc. (NYSE:PCOR) by 2.3% during the third quarter, HoldingsChannel reports. The firm owned 423,114 shares of the company’s stock after selling 9,769 shares during the period. Loomis Sayles & Co. L P’s holdings in Procore Technologies were worth $26,115,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. Dragoneer Investment Group LLC boosted its holdings in Procore Technologies by 254.0% in the 2nd quarter. Dragoneer Investment Group LLC now owns 2,243,431 shares of the company’s stock worth $148,762,000 after acquiring an additional 1,609,607 shares during the period. Assenagon Asset Management S.A. purchased a new position in shares of Procore Technologies in the third quarter valued at $88,572,000. XN LP boosted its stake in shares of Procore Technologies by 101.1% in the second quarter. XN LP now owns 2,808,251 shares of the company’s stock valued at $186,215,000 after purchasing an additional 1,411,812 shares during the period. Millennium Management LLC grew its holdings in Procore Technologies by 1,016.0% during the 2nd quarter. Millennium Management LLC now owns 914,534 shares of the company’s stock valued at $60,643,000 after purchasing an additional 832,583 shares in the last quarter. Finally, RGM Capital LLC purchased a new stake in Procore Technologies during the 2nd quarter worth $44,203,000. Institutional investors and hedge funds own 81.10% of the company’s stock.

Procore Technologies Price Performance

Shares of PCOR opened at $80.28 on Wednesday. Procore Technologies, Inc. has a 12 month low of $49.46 and a 12 month high of $83.35. 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 stock has a fifty day moving average price of $64.64 and a 200 day moving average price of $64.00. The company has a market cap of $11.93 billion, a P/E ratio of -160.52 and a beta of 0.71.

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

Analyst Upgrades and Downgrades

PCOR has been the subject of several recent analyst reports. Jefferies Financial Group raised their target price on Procore Technologies from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Monday, November 18th. BMO Capital Markets raised their price objective on Procore Technologies from $71.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, November 22nd. Canaccord Genuity Group upped their target price on Procore Technologies from $67.00 to $83.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. KeyCorp increased their target price on Procore Technologies from $68.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Finally, Stifel Nicolaus lifted their price target on shares of Procore Technologies from $70.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, November 22nd. Five analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $79.25.

Insider Activity

In other news, SVP William Fred Fleming, Jr. sold 15,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $70.75, for a total transaction of $1,061,250.00. Following the transaction, the senior vice president now directly owns 75,120 shares of the company’s stock, valued at approximately $5,314,740. This trade represents a 16.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Craig F. Jr. Courtemanche sold 22,665 shares of Procore Technologies stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $71.36, for a total transaction of $1,617,374.40. Following the sale, the chief executive officer now owns 770,458 shares in the company, valued at approximately $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. Over the last 90 days, insiders have sold 109,053 shares of company stock valued at $7,426,909. Insiders own 29.00% of the company’s stock.

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.