Lountzis Asset Management LLC Makes New $6.16 Million Investment in Procore Technologies, Inc. (NYSE:PCOR)

Lountzis Asset Management LLC acquired a new position in shares of Procore Technologies, Inc. (NYSE:PCOR) during the 3rd quarter, HoldingsChannel reports. The firm acquired 99,806 shares of the company’s stock, valued at approximately $6,160,000. Procore Technologies comprises 2.6% of Lountzis Asset Management LLC’s holdings, making the stock its 13th largest position.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Envestnet Portfolio Solutions Inc. lifted its position in shares of Procore Technologies by 39.3% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 4,865 shares of the company’s stock valued at $400,000 after acquiring an additional 1,372 shares during the last quarter. SG Americas Securities LLC lifted its holdings in shares of Procore Technologies by 34.0% during the first quarter. SG Americas Securities LLC now owns 8,012 shares of the company’s stock valued at $658,000 after purchasing an additional 2,033 shares during the last quarter. Swiss National Bank boosted its position in shares of Procore Technologies by 9.3% in the 1st quarter. Swiss National Bank now owns 184,100 shares of the company’s stock valued at $15,127,000 after purchasing an additional 15,700 shares during the period. Sei Investments Co. increased its stake in Procore Technologies by 240.6% in the 1st quarter. Sei Investments Co. now owns 170,937 shares of the company’s stock worth $14,046,000 after purchasing an additional 120,751 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in Procore Technologies by 31.8% during the 1st quarter. Russell Investments Group Ltd. now owns 185,912 shares of the company’s stock worth $15,252,000 after buying an additional 44,873 shares during the period. Institutional investors and hedge funds own 81.10% of the company’s stock.

Procore Technologies Trading Down 0.1 %

NYSE:PCOR traded down $0.10 during trading hours on Monday, hitting $70.36. The stock had a trading volume of 82,596 shares, compared to its average volume of 1,554,734. The business’s 50 day moving average is $61.04 and its 200-day moving average is $63.72. The company has a market cap of $10.46 billion, a price-to-earnings ratio of -140.92 and a beta of 0.71. Procore Technologies, Inc. has a one year low of $49.46 and a one year high of $83.35. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.11) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.11). Procore Technologies had a negative return on equity of 2.51% and a negative net margin of 6.59%. The business had revenue of $295.89 million during the quarter, compared to analyst estimates of $287.42 million. Sell-side analysts anticipate that Procore Technologies, Inc. will post -0.23 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Connor Kevin J. O sold 25,000 shares of the business’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $57.53, for a total value of $1,438,250.00. Following the sale, the director now directly owns 1,380,078 shares in the company, valued at $79,395,887.34. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Procore Technologies news, SVP William Fred Fleming, Jr. sold 2,707 shares of the firm’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $59.14, for a total transaction of $160,091.98. Following the completion of the sale, the senior vice president now owns 79,156 shares of the company’s stock, valued at $4,681,285.84. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Connor Kevin J. O sold 25,000 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $57.53, for a total value of $1,438,250.00. Following the transaction, the director now owns 1,380,078 shares in the company, valued at approximately $79,395,887.34. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 115,227 shares of company stock valued at $7,045,139. Company insiders own 29.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Baird R W upgraded Procore Technologies to a “strong-buy” rating in a report on Tuesday, September 24th. DA Davidson reissued a “neutral” rating and issued a $60.00 target price on shares of Procore Technologies in a research report on Wednesday, October 2nd. Robert W. Baird initiated coverage on Procore Technologies in a research report on Tuesday, September 24th. They issued an “outperform” rating and a $73.00 price target for the company. TD Cowen increased their price objective on Procore Technologies from $65.00 to $70.00 and gave the company a “buy” rating in a report on Monday, October 28th. Finally, Macquarie restated a “neutral” rating and issued a $70.00 price objective on shares of Procore Technologies in a research note on Tuesday, July 30th. Five research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $69.94.

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.