Sycomore Asset Management Has $13.57 Million Position in Procore Technologies, Inc. (NYSE:PCOR)

Sycomore Asset Management increased its holdings in shares of Procore Technologies, Inc. (NYSE:PCOR) by 26.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 220,137 shares of the company’s stock after acquiring an additional 45,414 shares during the quarter. Procore Technologies comprises about 2.0% of Sycomore Asset Management’s investment portfolio, making the stock its 12th largest holding. Sycomore Asset Management’s holdings in Procore Technologies were worth $13,567,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Curi RMB Capital LLC increased its stake in shares of Procore Technologies by 17.6% in the 3rd quarter. Curi RMB Capital LLC now owns 105,909 shares of the company’s stock valued at $6,537,000 after acquiring an additional 15,846 shares in the last quarter. KBC Group NV boosted its holdings in shares of Procore Technologies by 19.0% in the 3rd quarter. KBC Group NV now owns 2,722 shares of the company’s stock worth $168,000 after buying an additional 435 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in Procore Technologies by 56.5% during the third quarter. Oppenheimer Asset Management Inc. now owns 58,947 shares of the company’s stock valued at $3,638,000 after purchasing an additional 21,287 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of Procore Technologies by 4.0% during the third quarter. Victory Capital Management Inc. now owns 62,897 shares of the company’s stock valued at $3,882,000 after buying an additional 2,432 shares during the period. Finally, Entropy Technologies LP increased its position in shares of Procore Technologies by 111.2% during the third quarter. Entropy Technologies LP now owns 27,790 shares of the company’s stock valued at $1,715,000 after buying an additional 14,634 shares during the period. 81.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on the company. Robert W. Baird started coverage on Procore Technologies in a research note on Tuesday, September 24th. They issued an “outperform” rating and a $73.00 target price for the company. 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 note on Friday, August 2nd. DA Davidson reiterated a “neutral” rating and issued a $60.00 price objective on shares of Procore Technologies in a report on Wednesday, October 2nd. Scotiabank reduced their price target on Procore Technologies from $90.00 to $70.00 and set a “sector outperform” rating for the company in a report on Friday, August 2nd. Finally, The Goldman Sachs Group reduced their price target on Procore Technologies from $85.00 to $73.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Five equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Procore Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $69.94.

Insider Activity at Procore Technologies

In other Procore Technologies news, SVP William Fred Fleming, Jr. sold 2,707 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $59.14, for a total value of $160,091.98. Following the completion of the sale, the senior vice president now directly owns 79,156 shares in the company, valued at approximately $4,681,285.84. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Procore Technologies news, 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 value of $361,370.16. Following the completion of the sale, the director now directly owns 1,335,208 shares in the company, valued at approximately $94,092,107.76. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP William Fred Fleming, Jr. sold 2,707 shares of the firm’s stock in a transaction dated Thursday, August 22nd. The stock was sold at an average price of $59.14, for a total value of $160,091.98. Following the completion of the transaction, the senior vice president now owns 79,156 shares of the company’s stock, valued at approximately $4,681,285.84. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 120,355 shares of company stock worth $7,406,509 in the last quarter. 29.00% of the stock is owned by company insiders.

Procore Technologies Price Performance

NYSE:PCOR traded down $0.35 during trading hours on Thursday, reaching $73.07. The stock had a trading volume of 706,980 shares, compared to its average volume of 1,565,973. The stock has a market capitalization of $10.86 billion, a PE ratio of -146.84 and a beta of 0.71. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57. The company has a 50 day moving average price of $61.90 and a two-hundred day moving average price of $63.80. Procore Technologies, Inc. has a 52 week low of $49.46 and a 52 week high of $83.35.

Procore Technologies (NYSE:PCOR) last released its earnings results on Wednesday, October 30th. The company reported ($0.11) earnings per share 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 firm had revenue of $295.89 million for the quarter, compared to the consensus estimate of $287.42 million. As a group, sell-side analysts anticipate that Procore Technologies, Inc. will post -0.23 earnings per share 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.