Bamco Inc. NY Acquires 249,807 Shares of Procore Technologies, Inc. $PCOR

Bamco Inc. NY raised its holdings in Procore Technologies, Inc. (NYSE:PCOR) by 24.4% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,273,871 shares of the company’s stock after purchasing an additional 249,807 shares during the quarter. Bamco Inc. NY owned approximately 0.85% of Procore Technologies worth $87,158,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. TFB Advisors LLC increased its stake in shares of Procore Technologies by 8.1% in the first quarter. TFB Advisors LLC now owns 3,543 shares of the company’s stock valued at $234,000 after buying an additional 264 shares in the last quarter. Russell Investments Group Ltd. lifted its position in Procore Technologies by 3.8% during the 2nd quarter. Russell Investments Group Ltd. now owns 7,312 shares of the company’s stock worth $500,000 after buying an additional 269 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in Procore Technologies by 277.0% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 524 shares of the company’s stock worth $35,000 after acquiring an additional 385 shares during the last quarter. Cresset Asset Management LLC increased its position in Procore Technologies by 10.0% in the 1st quarter. Cresset Asset Management LLC now owns 4,352 shares of the company’s stock valued at $287,000 after acquiring an additional 396 shares in the last quarter. Finally, FORA Capital LLC increased its position in Procore Technologies by 15.0% in the 1st quarter. FORA Capital LLC now owns 3,093 shares of the company’s stock valued at $204,000 after acquiring an additional 403 shares in the last quarter. Institutional investors and hedge funds own 81.10% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. KeyCorp increased their price target on shares of Procore Technologies from $81.00 to $91.00 and gave the company an “overweight” rating in a research note on Thursday, November 6th. Weiss Ratings restated a “sell (d-)” rating on shares of Procore Technologies in a research report on Wednesday, October 8th. BMO Capital Markets upped their price objective on Procore Technologies from $82.00 to $87.00 and gave the stock an “outperform” rating in a report on Thursday, November 6th. Wall Street Zen upgraded Procore Technologies from a “hold” rating to a “buy” rating in a research report on Saturday, November 8th. Finally, William Blair restated an “outperform” rating on shares of Procore Technologies in a research report on Friday, October 17th. Thirteen analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $84.47.

Insider Activity

In related news, Director Kathryn Bueker sold 6,500 shares of the stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $79.00, for a total value of $513,500.00. Following the sale, the director directly owned 13,481 shares in the company, valued at $1,064,999. This trade represents a 32.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Connor Kevin J. O sold 36,196 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $78.06, for a total transaction of $2,825,459.76. Following the transaction, the director owned 1,071,749 shares of the company’s stock, valued at approximately $83,660,726.94. This represents a 3.27% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 416,957 shares of company stock valued at $30,494,876. Insiders own 21.50% of the company’s stock.

Procore Technologies Price Performance

PCOR opened at $74.43 on Friday. The company has a fifty day moving average price of $74.16 and a two-hundred day moving average price of $70.90. The firm has a market capitalization of $11.57 billion, a PE ratio of -88.61 and a beta of 0.90. Procore Technologies, Inc. has a 52 week low of $53.71 and a 52 week high of $88.92. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.33 and a current ratio of 1.33.

Procore Technologies (NYSE:PCOR) last posted its quarterly earnings results 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 6.18% and a negative net margin of 9.84%.The company had revenue of $172.21 million during the quarter. As a group, analysts anticipate that Procore Technologies, Inc. will post -0.15 earnings per share for the current year.

Procore Technologies 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.