The Manufacturers Life Insurance Company Purchases 2,538 Shares of Procore Technologies, Inc. (NYSE:PCOR)

The Manufacturers Life Insurance Company boosted its position in shares of Procore Technologies, Inc. (NYSE:PCOR) by 8.7% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,718 shares of the company’s stock after acquiring an additional 2,538 shares during the period. The Manufacturers Life Insurance Company’s holdings in Procore Technologies were worth $1,958,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Westfield Capital Management Co. LP boosted its holdings in Procore Technologies by 39.2% in the third quarter. Westfield Capital Management Co. LP now owns 966,215 shares of the company’s stock worth $59,635,000 after acquiring an additional 272,030 shares in the last quarter. Long Path Partners LP increased its holdings in shares of Procore Technologies by 5.8% during the third quarter. Long Path Partners LP now owns 358,050 shares of the company’s stock valued at $22,099,000 after acquiring an additional 19,547 shares in the last quarter. Cerity Partners LLC boosted its stake in Procore Technologies by 58.9% in the 3rd quarter. Cerity Partners LLC now owns 53,509 shares of the company’s stock worth $3,303,000 after purchasing an additional 19,838 shares in the last quarter. Eagle Asset Management Inc. acquired a new stake in Procore Technologies in the 3rd quarter worth approximately $10,676,000. Finally, Charles Schwab Investment Management Inc. grew its position in Procore Technologies by 16.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 682,303 shares of the company’s stock worth $42,112,000 after purchasing an additional 97,117 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Kathryn Bueker sold 6,500 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $78.01, for a total transaction of $507,065.00. Following the completion of the sale, the director now directly owns 23,932 shares in the company, valued at approximately $1,866,935.32. This trade represents a 21.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP William Fred Fleming, Jr. sold 15,000 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $70.75, for a total transaction of $1,061,250.00. Following the completion of the transaction, the senior vice president now owns 75,120 shares in the company, valued at $5,314,740. The trade was a 16.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 115,553 shares of company stock worth $7,933,974. 29.00% of the stock is owned by insiders.

Procore Technologies Stock Performance

NYSE PCOR opened at $82.90 on Tuesday. The stock has a market capitalization of $12.32 billion, a price-to-earnings ratio of -165.80 and a beta of 0.81. The stock has a 50-day moving average of $69.12 and a 200 day moving average of $64.93. 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, Inc. has a twelve month low of $49.46 and a twelve month high of $86.67.

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

Analyst Upgrades and Downgrades

PCOR has been the subject of several research reports. Baird R W upgraded shares of Procore Technologies to a “strong-buy” rating in a research note on Tuesday, September 24th. Scotiabank increased their price objective on Procore Technologies from $70.00 to $85.00 and gave the company a “sector outperform” rating in a report on Friday, November 22nd. Stifel Nicolaus lifted their target price on Procore Technologies from $70.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, November 22nd. 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 target price on the stock. Finally, KeyCorp lifted their price objective on shares of Procore Technologies from $68.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Five analysts have rated the stock with a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Procore Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.06.

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.