Loomis Sayles & Co. L P Buys 191,546 Shares of Procore Technologies, Inc. (NYSE:PCOR)

Loomis Sayles & Co. L P grew its stake in shares of Procore Technologies, Inc. (NYSE:PCOR) by 45.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 614,660 shares of the company’s stock after acquiring an additional 191,546 shares during the quarter. Loomis Sayles & Co. L P’s holdings in Procore Technologies were worth $46,056,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in Procore Technologies by 7.6% in the 4th quarter. Vanguard Group Inc. now owns 11,900,337 shares of the company’s stock valued at $891,692,000 after acquiring an additional 838,925 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Procore Technologies by 99.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,861,024 shares of the company’s stock worth $214,377,000 after purchasing an additional 1,425,967 shares during the last quarter. Meritage Group LP lifted its holdings in shares of Procore Technologies by 66.6% during the third quarter. Meritage Group LP now owns 2,745,504 shares of the company’s stock valued at $169,453,000 after purchasing an additional 1,098,019 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Procore Technologies by 29,376.1% during the fourth quarter. Principal Financial Group Inc. now owns 2,679,964 shares of the company’s stock valued at $200,810,000 after buying an additional 2,670,872 shares during the last quarter. Finally, Janus Henderson Group PLC increased its holdings in Procore Technologies by 128.7% in the 3rd quarter. Janus Henderson Group PLC now owns 2,305,041 shares of the company’s stock worth $142,267,000 after buying an additional 1,297,151 shares in the last quarter. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on PCOR. JPMorgan Chase & Co. upped their target price on shares of Procore Technologies from $85.00 to $92.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. UBS Group raised their target price on shares of Procore Technologies from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Friday, February 14th. KeyCorp boosted their target price on shares of Procore Technologies from $85.00 to $96.00 and gave the company an “overweight” rating in a research note on Friday, February 14th. Piper Sandler raised their price target on Procore Technologies from $90.00 to $110.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Finally, Mizuho upped their price objective on Procore Technologies from $65.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $90.24.

Procore Technologies Price Performance

NYSE PCOR opened at $69.32 on Friday. 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 12 month low of $49.46 and a 12 month high of $88.92. The stock has a market cap of $10.39 billion, a price-to-earnings ratio of -96.27 and a beta of 0.85. The company’s 50 day moving average is $75.98 and its two-hundred day moving average is $71.86.

Procore Technologies (NYSE:PCOR) last released its earnings results on Thursday, February 13th. The company reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.46). The firm had revenue of $302.05 million for the quarter, compared to analysts’ expectations of $297.72 million. Procore Technologies had a negative net margin of 9.20% and a negative return on equity of 5.10%. As a group, research analysts anticipate that Procore Technologies, Inc. will post -0.15 earnings per share for the current year.

Insider Activity

In other news, CFO Howard Fu sold 8,000 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $87.00, for a total value of $696,000.00. Following the transaction, the chief financial officer now owns 156,188 shares of the company’s stock, valued at approximately $13,588,356. The trade was a 4.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction of $377,523.36. Following the completion of the sale, the director now owns 1,264,700 shares in the company, valued at approximately $93,107,214. This represents a 0.40 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 69,604 shares of company stock worth $5,427,468 over the last ninety days. Corporate insiders own 29.00% of the company’s stock.

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.