Artisan Partners Limited Partnership Has $69.21 Million Position in Procore Technologies, Inc. (NYSE:PCOR)

Artisan Partners Limited Partnership lifted its holdings in Procore Technologies, Inc. (NYSE:PCOR) by 16.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 923,653 shares of the company’s stock after purchasing an additional 127,783 shares during the quarter. Artisan Partners Limited Partnership owned about 0.62% of Procore Technologies worth $69,209,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of PCOR. Versant Capital Management Inc boosted its holdings in shares of Procore Technologies by 92.1% in the fourth quarter. Versant Capital Management Inc now owns 365 shares of the company’s stock valued at $27,000 after buying an additional 175 shares during the period. Parkside Financial Bank & Trust boosted its stake in Procore Technologies by 61.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 387 shares of the company’s stock worth $29,000 after purchasing an additional 147 shares during the period. V Square Quantitative Management LLC raised its stake in shares of Procore Technologies by 37.8% in the 4th quarter. V Square Quantitative Management LLC now owns 591 shares of the company’s stock valued at $44,000 after purchasing an additional 162 shares during the period. Hilltop National Bank bought a new stake in shares of Procore Technologies in the fourth quarter valued at about $53,000. Finally, Skandinaviska Enskilda Banken AB publ boosted its position in shares of Procore Technologies by 1,434.0% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 721 shares of the company’s stock worth $54,000 after buying an additional 674 shares during the period. 81.10% of the stock is owned by institutional investors.

Procore Technologies Stock Down 0.9 %

PCOR stock opened at $69.32 on Friday. The business’s 50 day simple moving average is $75.98 and its 200 day simple moving average is $71.86. Procore Technologies, Inc. has a 1-year low of $49.46 and a 1-year high of $88.92. The firm has a market capitalization of $10.39 billion, a PE ratio of -96.27 and a beta of 0.85. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings data on Thursday, February 13th. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.46). The company had revenue of $302.05 million during the quarter, compared to the consensus estimate of $297.72 million. Procore Technologies had a negative net margin of 9.20% and a negative return on equity of 5.10%. As a group, research analysts anticipate that Procore Technologies, Inc. will post -0.15 EPS for the current year.

Insiders Place Their Bets

In other Procore Technologies news, major shareholder Iconiq Strategic Partners Ii, sold 1,074 shares of the stock in a transaction 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 transaction, the insider now owns 200 shares in the company, valued at $17,480. This trade represents a 84.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Connor Kevin J. O sold 5,128 shares of the business’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $73.62, for a total transaction of $377,523.36. Following the completion of the sale, the director now directly owns 1,264,700 shares of the company’s stock, valued at approximately $93,107,214. The trade was a 0.40 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 69,604 shares of company stock worth $5,427,468 over the last three months. Insiders own 29.00% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on PCOR. JMP Securities lifted their target price on Procore Technologies from $90.00 to $95.00 and gave the company a “market outperform” rating in a research report on Tuesday, February 18th. Barclays increased their target price on shares of Procore Technologies from $84.00 to $90.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. Mizuho lifted their price target on shares of Procore Technologies from $65.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Piper Sandler boosted their price target on shares of Procore Technologies from $90.00 to $110.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Finally, Canaccord Genuity Group raised their price objective on Procore Technologies from $83.00 to $97.00 and gave the company a “buy” rating in a report on Friday, February 14th. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $90.24.

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.