Envestnet Asset Management Inc. Purchases 99,706 Shares of Procore Technologies, Inc. $PCOR

Envestnet Asset Management Inc. boosted its position in Procore Technologies, Inc. (NYSE:PCOR) by 31.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 419,735 shares of the company’s stock after purchasing an additional 99,706 shares during the period. Envestnet Asset Management Inc. owned approximately 0.28% of Procore Technologies worth $30,607,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. Global Retirement Partners LLC raised its holdings in shares of Procore Technologies by 465.2% in the third quarter. Global Retirement Partners LLC now owns 390 shares of the company’s stock worth $28,000 after buying an additional 321 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in Procore Technologies in the third quarter worth $34,000. Jones Financial Companies Lllp lifted its position in shares of Procore Technologies by 70.8% during the third quarter. Jones Financial Companies Lllp now owns 480 shares of the company’s stock worth $35,000 after purchasing an additional 199 shares during the last quarter. First Horizon Corp bought a new stake in shares of Procore Technologies during the third quarter worth $49,000. Finally, Atlantic Union Bankshares Corp purchased a new stake in shares of Procore Technologies during the third quarter valued at $57,000. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Insiders Place Their Bets

In other Procore Technologies news, Director William J.G. Griffith sold 207,474 shares of Procore Technologies stock in a transaction on Monday, December 15th. The shares were sold at an average price of $72.30, for a total value of $15,000,370.20. Following the transaction, the director directly owned 3,244,546 shares of the company’s stock, valued at approximately $234,580,675.80. The trade was a 6.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Connor Kevin J. O sold 7,692 shares of the company’s stock in a transaction on Wednesday, January 21st. The stock was sold at an average price of $64.31, for a total value of $494,672.52. Following the transaction, the director directly owned 1,035,212 shares in the company, valued at approximately $66,574,483.72. The trade was a 0.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 616,392 shares of company stock worth $44,460,801. Insiders own 21.50% of the company’s stock.

Procore Technologies Trading Down 7.4%

Shares of NYSE PCOR opened at $48.59 on Thursday. Procore Technologies, Inc. has a 1-year low of $48.10 and a 1-year high of $88.92. The business has a fifty day moving average price of $68.26 and a 200 day moving average price of $70.14. The stock has a market capitalization of $7.55 billion, a P/E ratio of -57.85 and a beta of 0.89. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.33 and a quick ratio of 1.33.

Analyst Ratings Changes

Several research analysts recently commented on the stock. William Blair reiterated an “outperform” rating on shares of Procore Technologies in a report on Friday, October 17th. UBS Group reduced their target price on shares of Procore Technologies from $87.00 to $74.00 and set a “buy” rating on the stock in a research report on Tuesday, February 3rd. BMO Capital Markets decreased their price target on shares of Procore Technologies from $87.00 to $67.00 and set an “outperform” rating for the company in a research note on Thursday, February 5th. Piper Sandler increased their price objective on Procore Technologies from $82.00 to $91.00 and gave the stock an “overweight” rating in a research note on Thursday, November 6th. Finally, KeyCorp reduced their price objective on Procore Technologies from $91.00 to $80.00 and set an “overweight” rating on the stock in a report on Friday, February 6th. One research analyst has rated the stock with a Strong Buy rating, sixteen have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $82.15.

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. 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 Execution, 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.