Kornitzer Capital Management Inc. KS Acquires 73,700 Shares of Procore Technologies, Inc. (NYSE:PCOR)

Kornitzer Capital Management Inc. KS boosted its holdings in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 327.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 96,200 shares of the company's stock after purchasing an additional 73,700 shares during the period. Kornitzer Capital Management Inc. KS owned approximately 0.07% of Procore Technologies worth $6,659,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Bank of New York Mellon Corp raised its position in Procore Technologies by 311.8% during the 1st quarter. Bank of New York Mellon Corp now owns 487,908 shares of the company's stock worth $28,280,000 after buying an additional 369,427 shares during the last quarter. HighTower Advisors LLC lifted its position in shares of Procore Technologies by 33.1% during the 1st quarter. HighTower Advisors LLC now owns 15,927 shares of the company's stock valued at $924,000 after acquiring an additional 3,959 shares during the period. Citigroup Inc. lifted its position in shares of Procore Technologies by 41.9% during the 1st quarter. Citigroup Inc. now owns 8,019 shares of the company's stock valued at $465,000 after acquiring an additional 2,367 shares during the period. PNC Financial Services Group Inc. acquired a new stake in shares of Procore Technologies during the 1st quarter valued at approximately $31,000. Finally, Bank of Montreal Can acquired a new stake in shares of Procore Technologies during the 1st quarter valued at approximately $2,460,000. 81.10% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Procore Technologies

In other Procore Technologies news, SVP William Fred Fleming, Jr. sold 6,041 shares of the firm's stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $73.90, for a total value of $446,429.90. Following the transaction, the senior vice president now directly owns 77,768 shares of the company's stock, valued at $5,747,055.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Procore Technologies news, CFO Howard Fu sold 1,142 shares of the company's stock in a transaction dated Monday, January 22nd. The shares were sold at an average price of $69.67, for a total value of $79,563.14. Following the completion of the transaction, the chief financial officer now directly owns 144,608 shares of the company's stock, valued at approximately $10,074,839.36. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP William Fred Fleming, Jr. sold 6,041 shares of the company's stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $73.90, for a total transaction of $446,429.90. Following the completion of the transaction, the senior vice president now directly owns 77,768 shares of the company's stock, valued at $5,747,055.20. The disclosure for this sale can be found here. Insiders have sold 467,373 shares of company stock valued at $36,589,678 over the last three months. 39.20% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on PCOR. Stifel Nicolaus raised their price target on Procore Technologies from $64.00 to $90.00 and gave the company a "buy" rating in a research report on Friday, February 16th. JPMorgan Chase & Co. increased their price target on shares of Procore Technologies from $76.00 to $81.00 and gave the company an "overweight" rating in a research report on Tuesday, January 23rd. BMO Capital Markets increased their price target on shares of Procore Technologies from $76.00 to $90.00 and gave the company an "outperform" rating in a research report on Friday, February 16th. JMP Securities increased their price target on shares of Procore Technologies from $81.00 to $93.00 and gave the company a "market outperform" rating in a research report on Friday, February 16th. Finally, DA Davidson restated a "buy" rating and issued a $95.00 price objective on shares of Procore Technologies in a research report on Thursday, March 14th. Three equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $81.86.

Procore Technologies Trading Down 2.0 %

PCOR stock traded down $1.43 during trading on Friday, reaching $70.29. 1,263,915 shares of the stock traded hands, compared to its average volume of 1,063,139. The firm has a market capitalization of $10.19 billion, a PE ratio of -52.85 and a beta of 0.71. The company has a debt-to-equity ratio of 0.04, a current ratio of 1.49 and a quick ratio of 1.49. Procore Technologies, Inc. has a 52-week low of $48.11 and a 52-week high of $83.35. The business's 50 day moving average price is $77.12 and its 200-day moving average price is $68.82.

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