Parnassus Investments LLC Boosts Stock Position in Procore Technologies, Inc. (NYSE:PCOR)

Parnassus Investments LLC increased its holdings in shares of Procore Technologies, Inc. (NYSE:PCOR) by 19.9% during the third quarter, HoldingsChannel reports. The institutional investor owned 165,574 shares of the company’s stock after acquiring an additional 27,504 shares during the period. Parnassus Investments LLC’s holdings in Procore Technologies were worth $10,219,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its position in shares of Procore Technologies by 76.4% during the 3rd quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock worth $25,000 after purchasing an additional 175 shares during the last quarter. V Square Quantitative Management LLC purchased a new position in shares of Procore Technologies in the third quarter valued at approximately $26,000. Signaturefd LLC boosted its stake in shares of Procore Technologies by 52.0% in the second quarter. Signaturefd LLC now owns 631 shares of the company’s stock worth $42,000 after acquiring an additional 216 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of Procore Technologies by 6,069.2% during the third quarter. International Assets Investment Management LLC now owns 802 shares of the company’s stock worth $49,000 after purchasing an additional 789 shares in the last quarter. Finally, Rothschild Investment LLC purchased a new position in Procore Technologies in the 2nd quarter valued at $51,000. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on PCOR. KeyCorp dropped their target price on shares of Procore Technologies from $79.00 to $68.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. The Goldman Sachs Group cut their price objective on shares of Procore Technologies from $85.00 to $73.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Robert W. Baird began coverage on shares of Procore Technologies in a research note on Tuesday, September 24th. They issued an “outperform” rating and a $73.00 target price on the stock. Stifel Nicolaus dropped their price target on Procore Technologies from $85.00 to $63.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Finally, BMO Capital Markets reduced their price objective on Procore Technologies from $85.00 to $71.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Five investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Procore Technologies has an average rating of “Moderate Buy” and a consensus price target of $70.25.

Procore Technologies Stock Down 0.0 %

Shares of PCOR opened at $69.12 on Tuesday. The company’s 50-day moving average price is $62.82 and its 200 day moving average price is $63.78. Procore Technologies, Inc. has a 12-month low of $49.46 and a 12-month high of $83.35. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03. The firm has a market cap of $10.28 billion, a P/E ratio of -138.24 and a beta of 0.71.

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

Insider Buying and Selling at Procore Technologies

In other Procore Technologies news, CEO Craig F. Jr. Courtemanche sold 22,993 shares of Procore Technologies stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $59.14, for a total value of $1,359,806.02. Following the completion of the transaction, the chief executive officer now directly owns 793,123 shares of the company’s stock, valued at $46,905,294.22. The trade was a 2.82 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Connor Kevin J. O sold 5,128 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $70.47, for a total transaction of $361,370.16. Following the sale, the director now directly owns 1,335,208 shares in the company, valued at $94,092,107.76. This represents a 0.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 107,695 shares of company stock valued at $6,844,893 over the last quarter. 29.00% of the stock is owned by company insiders.

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.