Stifel Financial Corp Has $9.66 Million Stake in Procore Technologies, Inc. (NYSE:PCOR)

Stifel Financial Corp lifted its stake in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 8.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 128,938 shares of the company's stock after buying an additional 10,491 shares during the quarter. Stifel Financial Corp owned approximately 0.09% of Procore Technologies worth $9,661,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in PCOR. Principal Financial Group Inc. grew its position in shares of Procore Technologies by 29,376.1% during the fourth quarter. Principal Financial Group Inc. now owns 2,679,964 shares of the company's stock worth $200,810,000 after buying an additional 2,670,872 shares in the last quarter. Capital World Investors grew its position in shares of Procore Technologies by 453.6% during the fourth quarter. Capital World Investors now owns 3,118,962 shares of the company's stock worth $233,704,000 after buying an additional 2,555,612 shares in the last quarter. Wellington Management Group LLP acquired a new stake in shares of Procore Technologies during the fourth quarter worth approximately $131,840,000. Assenagon Asset Management S.A. grew its position in shares of Procore Technologies by 99.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,861,024 shares of the company's stock worth $214,377,000 after buying an additional 1,425,967 shares in the last quarter. Finally, Champlain Investment Partners LLC acquired a new stake in shares of Procore Technologies during the fourth quarter worth approximately $105,747,000. Institutional investors and hedge funds own 81.10% of the company's stock.

Analysts Set New Price Targets

PCOR has been the subject of a number of research reports. UBS Group decreased their price objective on shares of Procore Technologies from $110.00 to $87.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Piper Sandler decreased their price objective on shares of Procore Technologies from $110.00 to $75.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. JPMorgan Chase & Co. decreased their price objective on shares of Procore Technologies from $97.00 to $85.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Mizuho decreased their price objective on shares of Procore Technologies from $75.00 to $65.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. Finally, KeyCorp decreased their price objective on shares of Procore Technologies from $96.00 to $77.00 and set an "overweight" rating for the company in a report on Monday, April 21st. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $81.18.

Insider Activity

In related news, insider Benjamin C. Singer sold 6,937 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $83.60, for a total transaction of $579,933.20. Following the completion of the sale, the insider now directly owns 72,110 shares in the company, valued at approximately $6,028,396. This trade represents a 8.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Iconiq Strategic Partners Ii, sold 1,074 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $87.40, for a total transaction of $93,867.60. Following the sale, the insider now owns 200 shares of the company's stock, valued at $17,480. The trade was a 84.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,962 shares of company stock worth $5,041,588 over the last three months. Corporate insiders own 29.00% of the company's stock.

Procore Technologies Price Performance

Shares of Procore Technologies stock traded down $0.93 on Thursday, hitting $63.16. The company had a trading volume of 1,953,788 shares, compared to its average volume of 1,731,252. The business has a 50-day simple moving average of $66.54 and a 200-day simple moving average of $72.20. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57. The company has a market cap of $9.42 billion, a PE ratio of -87.72 and a beta of 0.90. Procore Technologies, Inc. has a 52 week low of $49.46 and a 52 week high of $88.92.

Procore Technologies (NYSE:PCOR - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported ($0.13) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.17 by ($0.30). Procore Technologies had a negative net margin of 9.20% and a negative return on equity of 5.10%. Research analysts expect that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.

About Procore Technologies

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.