Assenagon Asset Management S.A. Has $159.92 Million Holdings in Procore Technologies, Inc. (NYSE:PCOR)

Assenagon Asset Management S.A. decreased its holdings in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 15.3% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,422,323 shares of the company's stock after selling 438,701 shares during the quarter. Assenagon Asset Management S.A. owned about 1.62% of Procore Technologies worth $159,922,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in PCOR. Parkside Financial Bank & Trust lifted its holdings 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 in the last quarter. V Square Quantitative Management LLC lifted its holdings in Procore Technologies by 37.8% in the 4th quarter. V Square Quantitative Management LLC now owns 591 shares of the company's stock worth $44,000 after buying an additional 162 shares in the last quarter. Covestor Ltd lifted its holdings in Procore Technologies by 15.1% in the 4th quarter. Covestor Ltd now owns 1,571 shares of the company's stock worth $118,000 after buying an additional 206 shares in the last quarter. Two Sigma Investments LP lifted its holdings in Procore Technologies by 5.3% in the 4th quarter. Two Sigma Investments LP now owns 4,181 shares of the company's stock worth $313,000 after buying an additional 210 shares in the last quarter. Finally, Park Avenue Securities LLC lifted its holdings in Procore Technologies by 1.7% in the 1st quarter. Park Avenue Securities LLC now owns 12,934 shares of the company's stock worth $854,000 after buying an additional 221 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company's stock.

Insider Transactions at Procore Technologies

In related news, insider Benjamin C. Singer sold 4,203 shares of the stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $68.91, for a total transaction of $289,628.73. Following the completion of the sale, the insider now directly owns 102,057 shares of the company's stock, valued at $7,032,747.87. This represents a 3.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Connor Kevin J. O sold 7,700 shares of the stock in a transaction that occurred on Wednesday, April 9th. The shares were sold at an average price of $56.67, for a total transaction of $436,359.00. Following the sale, the director now directly owns 1,208,284 shares of the company's stock, valued at approximately $68,473,454.28. This represents a 0.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 38,853 shares of company stock valued at $2,597,004. Company insiders own 29.00% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on PCOR shares. Barclays boosted their price objective on shares of Procore Technologies from $70.00 to $72.00 and gave the stock an "equal weight" rating in a report on Friday, May 2nd. Jefferies Financial Group dropped their target price on shares of Procore Technologies from $100.00 to $90.00 and set a "buy" rating for the company in a research report on Monday, March 31st. DA Davidson raised shares of Procore Technologies to a "hold" rating in a research report on Tuesday, May 13th. Scotiabank dropped their target price on shares of Procore Technologies from $95.00 to $75.00 and set a "sector outperform" rating for the company in a research report on Thursday, April 24th. Finally, UBS Group dropped their target price on shares of Procore Technologies from $110.00 to $87.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Four equities research 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. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $80.24.

Procore Technologies Stock Performance

NYSE PCOR traded down $0.84 on Thursday, hitting $65.17. The stock had a trading volume of 982,263 shares, compared to its average volume of 1,695,113. Procore Technologies, Inc. has a one year low of $49.46 and a one year high of $88.92. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03. The stock has a market cap of $9.72 billion, a price-to-earnings ratio of -90.51 and a beta of 0.90. The company's 50-day moving average is $64.88 and its two-hundred day moving average is $72.21.

Procore Technologies (NYSE:PCOR - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.17 by $0.06. The firm had revenue of $310.63 million during the quarter, compared to analysts' expectations of $302.66 million. Procore Technologies had a negative net margin of 9.20% and a negative return on equity of 5.10%. Procore Technologies's quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.30 EPS. On average, analysts expect that Procore Technologies, Inc. will post -0.15 earnings per share for the current year.

Procore Technologies Company 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.