KLP Kapitalforvaltning AS Has $1.57 Million Stake in Procore Technologies, Inc. $PCOR

KLP Kapitalforvaltning AS raised its position in Procore Technologies, Inc. (NYSE:PCOR) by 13.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 22,900 shares of the company’s stock after purchasing an additional 2,800 shares during the period. KLP Kapitalforvaltning AS’s holdings in Procore Technologies were worth $1,567,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Teacher Retirement System of Texas increased its stake in shares of Procore Technologies by 89.5% in the 1st quarter. Teacher Retirement System of Texas now owns 19,957 shares of the company’s stock valued at $1,318,000 after acquiring an additional 9,428 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Procore Technologies by 66.6% in the 1st quarter. GAMMA Investing LLC now owns 1,243 shares of the company’s stock valued at $82,000 after acquiring an additional 497 shares in the last quarter. Brown Advisory Inc. increased its stake in shares of Procore Technologies by 87.4% in the 1st quarter. Brown Advisory Inc. now owns 12,943 shares of the company’s stock valued at $854,000 after acquiring an additional 6,038 shares in the last quarter. Amalgamated Bank increased its stake in shares of Procore Technologies by 4.2% in the 1st quarter. Amalgamated Bank now owns 7,374 shares of the company’s stock valued at $487,000 after acquiring an additional 295 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC increased its stake in shares of Procore Technologies by 8.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 7,702 shares of the company’s stock valued at $508,000 after acquiring an additional 613 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Procore Technologies Stock Performance

Shares of PCOR stock opened at $71.84 on Tuesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.29 and a quick ratio of 1.29. The firm has a 50-day moving average of $69.16 and a 200-day moving average of $67.76. Procore Technologies, Inc. has a one year low of $53.71 and a one year high of $88.92. The company has a market cap of $10.79 billion, a P/E ratio of -74.84 and a beta of 0.90.

Procore Technologies (NYSE:PCOR) last issued its quarterly earnings data on Wednesday, September 20th. The company reported ($0.19) earnings per share (EPS) for the quarter. Procore Technologies had a negative return on equity of 7.66% and a negative net margin of 11.58%.The firm had revenue of $172.21 million during the quarter. Equities research analysts forecast that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Barclays lifted their price objective on shares of Procore Technologies from $72.00 to $82.00 and gave the company an “equal weight” rating in a research note on Monday, July 14th. Stifel Nicolaus lifted their price objective on shares of Procore Technologies from $75.00 to $80.00 and gave the company a “buy” rating in a research note on Friday, August 1st. Berenberg Bank assumed coverage on shares of Procore Technologies in a research note on Friday, October 3rd. They issued a “buy” rating and a $84.00 price objective for the company. Arete began coverage on shares of Procore Technologies in a research note on Monday, June 16th. They set a “buy” rating and a $91.00 price target for the company. Finally, KeyCorp upped their price objective on shares of Procore Technologies from $77.00 to $81.00 and gave the stock an “overweight” rating in a report on Friday, August 1st. Fourteen investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Procore Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.11.

Insider Activity at Procore Technologies

In related news, CFO Howard Fu sold 796 shares of the stock in a transaction that occurred on Monday, September 22nd. The stock was sold at an average price of $71.02, for a total transaction of $56,531.92. Following the completion of the sale, the chief financial officer directly owned 188,661 shares of the company’s stock, valued at approximately $13,398,704.22. This trade represents a 0.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Connor Kevin J. O sold 7,692 shares of the stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $72.57, for a total value of $558,208.44. Following the sale, the director directly owned 1,123,329 shares of the company’s stock, valued at $81,519,985.53. The trade was a 0.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 24,422 shares of company stock valued at $1,685,658. 21.50% of the stock is owned by 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.