Summit Global Investments Invests $676,000 in Procore Technologies, Inc. (NYSE:PCOR)

Summit Global Investments acquired a new stake in Procore Technologies, Inc. (NYSE:PCOR) during the 4th quarter, HoldingsChannel.com reports. The fund acquired 9,025 shares of the company’s stock, valued at approximately $676,000.

A number of other large investors also recently bought and sold shares of PCOR. Versant Capital Management Inc raised its stake in shares of Procore Technologies by 92.1% in the 4th quarter. Versant Capital Management Inc now owns 365 shares of the company’s stock valued at $27,000 after acquiring an additional 175 shares during the period. Parkside Financial Bank & Trust raised its position in Procore Technologies by 61.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 387 shares of the company’s stock valued at $29,000 after purchasing an additional 147 shares during the period. V Square Quantitative Management LLC lifted its stake in Procore Technologies by 37.8% during the fourth quarter. V Square Quantitative Management LLC now owns 591 shares of the company’s stock worth $44,000 after purchasing an additional 162 shares in the last quarter. Hilltop National Bank acquired a new position in Procore Technologies during the fourth quarter worth $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. Institutional investors and hedge funds own 81.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. KeyCorp increased their target price on Procore Technologies from $85.00 to $96.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. UBS Group increased their price target on shares of Procore Technologies from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Stifel Nicolaus lifted their price objective on shares of Procore Technologies from $84.00 to $93.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Jefferies Financial Group upgraded shares of Procore Technologies from a “hold” rating to a “buy” rating and increased their target price for the stock from $80.00 to $100.00 in a report on Monday, January 6th. Finally, Barclays boosted their price target on shares of Procore Technologies from $84.00 to $90.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Procore Technologies has a consensus rating of “Moderate Buy” and an average target price of $90.24.

Procore Technologies Stock Up 1.3 %

PCOR stock opened at $70.37 on Monday. The company’s 50 day moving average is $76.38 and its two-hundred day moving average is $71.64. Procore Technologies, Inc. has a twelve month low of $49.46 and a twelve month high of $88.92. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03. The stock has a market cap of $10.55 billion, a P/E ratio of -97.73 and a beta of 0.85.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings data on Thursday, February 13th. The company reported ($0.35) earnings per share (EPS) 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 analyst estimates of $297.72 million. Procore Technologies had a negative net margin of 9.20% and a negative return on equity of 5.10%. Research analysts expect that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Insider Activity at Procore Technologies

In other Procore Technologies news, Director Connor Kevin J. O sold 5,128 shares of Procore Technologies stock in a transaction on Monday, January 13th. The shares were sold at an average price of $73.62, for a total value of $377,523.36. Following the transaction, the director now directly owns 1,264,700 shares in the company, valued at approximately $93,107,214. The trade was a 0.40 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CRO Lawrence Joseph Stack sold 12,000 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $82.92, for a total transaction of $995,040.00. Following the completion of the sale, the executive now directly owns 161,368 shares of the company’s stock, valued at $13,380,634.56. The trade was a 6.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 69,604 shares of company stock valued at $5,427,468 in the last three months. 29.00% of the stock is currently owned by company 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.