First Trust Advisors LP purchased a new stake in shares of Procore Technologies, Inc. (NYSE:PCOR – Get Rating) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 155,243 shares of the company’s stock, valued at approximately $7,324,000. First Trust Advisors LP owned about 0.11% of Procore Technologies as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PCOR. Dimensional Fund Advisors LP raised its holdings in Procore Technologies by 8.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 62,843 shares of the company’s stock worth $2,964,000 after purchasing an additional 4,652 shares in the last quarter. Principal Financial Group Inc. raised its stake in Procore Technologies by 3,265.1% in the fourth quarter. Principal Financial Group Inc. now owns 439,721 shares of the company’s stock worth $20,746,000 after buying an additional 426,654 shares in the last quarter. Treasurer of the State of North Carolina lifted its holdings in Procore Technologies by 3.1% in the fourth quarter. Treasurer of the State of North Carolina now owns 30,863 shares of the company’s stock worth $1,456,000 after buying an additional 930 shares during the period. Skandinaviska Enskilda Banken AB publ purchased a new stake in Procore Technologies in the fourth quarter worth about $2,793,000. Finally, Swiss National Bank lifted its holdings in Procore Technologies by 2.6% in the fourth quarter. Swiss National Bank now owns 66,000 shares of the company’s stock worth $3,114,000 after buying an additional 1,700 shares during the period. 82.50% of the stock is currently owned by institutional investors.
Insider Activity at Procore Technologies
In related news, Director Connor Kevin J. O sold 5,128 shares of the firm’s stock in a transaction that occurred on Wednesday, March 15th. The shares were sold at an average price of $58.58, for a total transaction of $300,398.24. Following the completion of the sale, the director now owns 1,550,538 shares of the company’s stock, valued at $90,830,516.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, insider Steven Scott Davis sold 738 shares of the firm’s stock in a transaction that occurred on Wednesday, May 24th. The shares were sold at an average price of $57.95, for a total value of $42,767.10. Following the sale, the insider now owns 258,468 shares in the company, valued at $14,978,220.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Connor Kevin J. O sold 5,128 shares of the firm’s stock in a transaction that occurred on Wednesday, March 15th. The stock was sold at an average price of $58.58, for a total transaction of $300,398.24. Following the completion of the sale, the director now owns 1,550,538 shares in the company, valued at approximately $90,830,516.04. The disclosure for this sale can be found here. Insiders sold 153,530 shares of company stock valued at $9,088,790 over the last 90 days. Corporate insiders own 39.20% of the company’s stock.
Procore Technologies Stock Performance
Analysts Set New Price Targets
PCOR has been the subject of several research analyst reports. DA Davidson initiated coverage on shares of Procore Technologies in a report on Tuesday, March 21st. They issued a “buy” rating and a $72.00 price objective for the company. Barclays raised their price objective on shares of Procore Technologies from $61.00 to $72.00 in a report on Friday, February 17th. Piper Sandler raised their price objective on shares of Procore Technologies from $60.00 to $82.00 and gave the stock an “overweight” rating in a report on Friday, February 17th. Stifel Nicolaus lowered their price objective on shares of Procore Technologies from $79.00 to $67.00 in a report on Thursday, May 4th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $75.00 target price on shares of Procore Technologies in a research note on Monday, April 17th. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat, Procore Technologies currently has an average rating of “Moderate Buy” and a consensus price target of $72.00.
Procore Technologies Profile
Procore Technologies, Inc provides 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. It offers Preconstruction that facilitates collaboration between internal and external stakeholders during the planning, budgeting, estimating, bidding, and partner selection phase of a construction project; and Project Management, which enables real-time collaboration, information storage, design, BIM model clash detection, and regulation compliance for teams on the jobsite and in the back office.
Read More
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