KLP Kapitalforvaltning AS Purchases Shares of 21,000 Procore Technologies, Inc. (NYSE:PCOR)

KLP Kapitalforvaltning AS bought a new position in Procore Technologies, Inc. (NYSE:PCOR) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 21,000 shares of the company’s stock, valued at approximately $1,574,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PCOR. Versant Capital Management Inc increased its stake 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 worth $27,000 after purchasing an additional 175 shares during the period. 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 worth $29,000 after buying an additional 147 shares during the period. V Square Quantitative Management LLC lifted its holdings in shares of Procore Technologies by 37.8% during the fourth quarter. V Square Quantitative Management LLC now owns 591 shares of the company’s stock worth $44,000 after buying an additional 162 shares during the last quarter. Hilltop National Bank bought a new stake in shares of Procore Technologies in the fourth quarter valued at approximately $53,000. Finally, Skandinaviska Enskilda Banken AB publ grew its stake in shares of Procore Technologies by 1,434.0% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 721 shares of the company’s stock worth $54,000 after acquiring an additional 674 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Analyst Upgrades and Downgrades

PCOR has been the subject of several research analyst reports. KeyCorp upped their target price on shares of Procore Technologies from $85.00 to $96.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Robert W. Baird increased their target price on shares of Procore Technologies from $87.00 to $96.00 and gave the company an “outperform” rating in a research note on Thursday, December 12th. Jefferies Financial Group upgraded Procore Technologies from a “hold” rating to a “buy” rating and boosted their price target for the company from $80.00 to $100.00 in a research note on Monday, January 6th. Mizuho raised their price objective on Procore Technologies from $65.00 to $75.00 and gave the stock a “neutral” rating in a research report on Friday, December 13th. Finally, Stifel Nicolaus lifted their price objective on Procore Technologies from $84.00 to $93.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $90.24.

Insider Activity at Procore Technologies

In related news, CFO Howard Fu sold 1,447 shares of the business’s stock in a transaction that occurred on Friday, March 21st. The shares were sold at an average price of $68.79, for a total value of $99,539.13. Following the completion of the transaction, the chief financial officer now owns 144,713 shares in the company, valued at $9,954,807.27. The trade was a 0.99 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CRO Lawrence Joseph Stack sold 12,000 shares of the company’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $82.92, for a total value of $995,040.00. Following the transaction, the executive now directly owns 161,368 shares in the company, valued at approximately $13,380,634.56. This represents a 6.92 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 69,604 shares of company stock valued at $5,427,468 over the last ninety days. 29.00% of the stock is owned by insiders.

Procore Technologies Price Performance

Shares of Procore Technologies stock opened at $66.74 on Friday. The stock has a market capitalization of $10.01 billion, a price-to-earnings ratio of -92.70 and a beta of 0.85. The firm’s 50-day moving average price is $75.77 and its two-hundred day moving average price is $71.94. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03. Procore Technologies, Inc. has a 1-year low of $49.46 and a 1-year high of $88.92.

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