DekaBank Deutsche Girozentrale Invests $1.04 Million in Procore Technologies, Inc. (NYSE:PCOR)

DekaBank Deutsche Girozentrale bought a new stake in Procore Technologies, Inc. (NYSE:PCOR - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 15,000 shares of the company's stock, valued at approximately $1,044,000.

A number of other institutional investors also recently made changes to their positions in PCOR. Vanguard Group Inc. raised its position in shares of Procore Technologies by 13.2% during the 3rd quarter. Vanguard Group Inc. now owns 8,538,670 shares of the company's stock valued at $557,746,000 after acquiring an additional 995,757 shares in the last quarter. California Public Employees Retirement System raised its position in shares of Procore Technologies by 31.8% during the 3rd quarter. California Public Employees Retirement System now owns 139,326 shares of the company's stock valued at $9,101,000 after acquiring an additional 33,590 shares in the last quarter. Rhumbline Advisers raised its position in shares of Procore Technologies by 1.9% during the 3rd quarter. Rhumbline Advisers now owns 111,137 shares of the company's stock valued at $7,259,000 after acquiring an additional 2,073 shares in the last quarter. Lisanti Capital Growth LLC acquired a new stake in shares of Procore Technologies during the 3rd quarter valued at approximately $2,922,000. Finally, Nomura Asset Management Co. Ltd. acquired a new stake in shares of Procore Technologies during the 3rd quarter valued at approximately $7,328,000. 81.10% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Procore Technologies

In related news, CFO Howard Fu sold 1,142 shares of the firm's stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $69.67, for a total transaction of $79,563.14. Following the completion of the transaction, the chief financial officer now owns 144,608 shares of the company's stock, valued at $10,074,839.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CFO Howard Fu sold 1,142 shares of the company's stock in a transaction on Monday, January 22nd. The stock was sold at an average price of $69.67, for a total transaction of $79,563.14. Following the completion of the sale, the chief financial officer now directly owns 144,608 shares of the company's stock, valued at $10,074,839.36. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Craig F. Jr. Courtemanche sold 65,246 shares of the company's stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $73.90, for a total value of $4,821,679.40. Following the sale, the chief executive officer now directly owns 748,247 shares of the company's stock, valued at $55,295,453.30. The disclosure for this sale can be found here. Insiders sold 467,373 shares of company stock valued at $36,589,678 over the last 90 days. 39.20% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. The Goldman Sachs Group increased their target price on Procore Technologies from $74.00 to $85.00 and gave the stock a "buy" rating in a research report on Friday, February 16th. KeyCorp increased their target price on Procore Technologies from $85.00 to $95.00 and gave the stock an "overweight" rating in a research report on Friday, February 16th. Piper Sandler increased their target price on Procore Technologies from $77.00 to $80.00 and gave the stock an "overweight" rating in a research report on Friday, February 16th. JMP Securities increased their target price on Procore Technologies from $81.00 to $93.00 and gave the stock a "market outperform" rating in a research report on Friday, February 16th. Finally, Stifel Nicolaus increased their target price on Procore Technologies from $64.00 to $90.00 and gave the stock a "buy" rating in a research report on Friday, February 16th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Procore Technologies currently has an average rating of "Moderate Buy" and a consensus target price of $81.86.

Procore Technologies Stock Performance

Shares of NYSE:PCOR traded down $0.64 on Monday, hitting $72.80. The company's stock had a trading volume of 1,197,049 shares, compared to its average volume of 1,209,908. Procore Technologies, Inc. has a 12 month low of $48.11 and a 12 month high of $83.35. The company has a market capitalization of $10.55 billion, a price-to-earnings ratio of -55.15 and a beta of 0.71. The stock's 50-day moving average is $77.23 and its two-hundred day moving average is $68.59. The company has a debt-to-equity ratio of 0.04, a quick ratio of 1.49 and a current ratio of 1.49.

Procore Technologies (NYSE:PCOR - Get Free Report) last announced its earnings results on Thursday, February 15th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.26) by $0.13. Procore Technologies had a negative return on equity of 12.26% and a negative net margin of 19.97%. The business had revenue of $260.04 million during the quarter, compared to analysts' expectations of $248.20 million. On average, equities research analysts forecast that Procore Technologies, Inc. will post -0.64 EPS 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.