Skandinaviska Enskilda Banken AB publ Acquires 674 Shares of Procore Technologies, Inc. (NYSE:PCOR)

Skandinaviska Enskilda Banken AB publ lifted its holdings in Procore Technologies, Inc. (NYSE:PCOR) by 1,434.0% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 721 shares of the company’s stock after acquiring an additional 674 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in Procore Technologies were worth $54,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the business. Assenagon Asset Management S.A. increased its position in Procore Technologies by 99.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,861,024 shares of the company’s stock valued at $214,377,000 after purchasing an additional 1,425,967 shares during the period. Meritage Group LP increased its position in Procore Technologies by 66.6% during the 3rd quarter. Meritage Group LP now owns 2,745,504 shares of the company’s stock valued at $169,453,000 after purchasing an additional 1,098,019 shares during the period. Principal Financial Group Inc. increased its position in Procore Technologies by 29,376.1% during the 4th quarter. Principal Financial Group Inc. now owns 2,679,964 shares of the company’s stock valued at $200,810,000 after purchasing an additional 2,670,872 shares during the period. Janus Henderson Group PLC increased its position in Procore Technologies by 128.7% during the 3rd quarter. Janus Henderson Group PLC now owns 2,305,041 shares of the company’s stock valued at $142,267,000 after purchasing an additional 1,297,151 shares during the period. Finally, Holocene Advisors LP increased its position in Procore Technologies by 1.1% during the 3rd quarter. Holocene Advisors LP now owns 1,873,343 shares of the company’s stock valued at $115,623,000 after purchasing an additional 21,234 shares during the period. 81.10% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Procore Technologies

In other news, major shareholder Iconiq Strategic Partners Ii, sold 1,074 shares of the stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $87.40, for a total value of $93,867.60. Following the transaction, the insider now owns 200 shares in the company, valued at $17,480. This represents a 84.30 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Benjamin C. Singer sold 1,500 shares of the stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $76.18, for a total transaction of $114,270.00. Following the completion of the transaction, the insider now owns 84,539 shares in the company, valued at $6,440,181.02. This trade represents a 1.74 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 69,657 shares of company stock worth $5,442,199. Company insiders own 29.00% of the company’s stock.

Procore Technologies Price Performance

PCOR opened at $68.58 on Wednesday. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57. The stock has a market capitalization of $10.28 billion, a P/E ratio of -95.24 and a beta of 0.85. The company’s 50-day simple moving average is $76.74 and its two-hundred day simple moving average is $71.37. Procore Technologies, Inc. has a 52-week low of $49.46 and a 52-week high of $88.92.

Procore Technologies (NYSE:PCOR) last posted its earnings results 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). The company had revenue of $302.05 million for the quarter, compared to the consensus estimate of $297.72 million. Procore Technologies had a negative net margin of 9.20% and a negative return on equity of 5.10%. As a group, analysts predict that Procore Technologies, Inc. will post -0.15 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. Piper Sandler boosted their price objective on shares of Procore Technologies from $90.00 to $110.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. UBS Group upped their target price on shares of Procore Technologies from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. The Goldman Sachs Group upped their target price on shares of Procore Technologies from $73.00 to $83.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. TD Cowen upped their target price on shares of Procore Technologies from $70.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, November 22nd. Finally, Macquarie reduced their target price on shares of Procore Technologies from $93.00 to $75.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Procore Technologies presently has a consensus rating of “Moderate Buy” and an average target price of $90.24.

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.