Kornitzer Capital Management Inc. KS Has $10.85 Million Stock Position in Procore Technologies, Inc. (NYSE:PCOR)

Kornitzer Capital Management Inc. KS raised its stake in shares of Procore Technologies, Inc. (NYSE:PCOR) by 24.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 175,800 shares of the company’s stock after purchasing an additional 35,000 shares during the quarter. Kornitzer Capital Management Inc. KS owned 0.12% of Procore Technologies worth $10,850,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of PCOR. GAMMA Investing LLC lifted its holdings in Procore Technologies by 76.4% during the 3rd quarter. GAMMA Investing LLC now owns 404 shares of the company’s stock worth $25,000 after buying an additional 175 shares in the last quarter. V Square Quantitative Management LLC acquired a new position in Procore Technologies during the 3rd quarter worth $26,000. Signaturefd LLC lifted its holdings in Procore Technologies by 52.0% during the 2nd quarter. Signaturefd LLC now owns 631 shares of the company’s stock worth $42,000 after buying an additional 216 shares in the last quarter. Rothschild Investment LLC acquired a new position in Procore Technologies during the 2nd quarter worth $51,000. Finally, International Assets Investment Management LLC lifted its holdings in Procore Technologies by 6,069.2% during the 3rd quarter. International Assets Investment Management LLC now owns 802 shares of the company’s stock worth $49,000 after buying an additional 789 shares in the last quarter. Institutional investors own 81.10% of the company’s stock.

Insider Activity at Procore Technologies

In related news, Director Connor Kevin J. O sold 25,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $57.53, for a total value of $1,438,250.00. Following the completion of the sale, the director now directly owns 1,380,078 shares in the company, valued at approximately $79,395,887.34. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Procore Technologies news, Director Connor Kevin J. O sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $57.53, for a total transaction of $1,438,250.00. Following the completion of the sale, the director now directly owns 1,380,078 shares in the company, valued at $79,395,887.34. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Joy Driscoll Durling sold 6,076 shares of the firm’s stock in a transaction that occurred on Thursday, August 22nd. The stock was sold at an average price of $59.14, for a total transaction of $359,334.64. Following the sale, the insider now owns 104,381 shares of the company’s stock, valued at $6,173,092.34. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 98,727 shares of company stock worth $5,876,264. Insiders own 29.00% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PCOR. Piper Sandler increased their price target on Procore Technologies from $63.00 to $70.00 and gave the company an “overweight” rating in a research note on Thursday, October 31st. Barclays increased their price target on Procore Technologies from $64.00 to $66.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. JMP Securities cut their price target on Procore Technologies from $82.00 to $75.00 and set a “market outperform” rating on the stock in a research note on Thursday, October 31st. Baird R W raised Procore Technologies to a “strong-buy” rating in a research note on Tuesday, September 24th. Finally, The Goldman Sachs Group cut their price target on Procore Technologies from $85.00 to $73.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Five analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $69.94.

Procore Technologies Price Performance

Shares of NYSE PCOR opened at $71.16 on Friday. The stock has a market capitalization of $10.58 billion, a price-to-earnings ratio of -142.32 and a beta of 0.71. The business has a 50-day moving average of $60.57 and a 200-day moving average of $63.78. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57. Procore Technologies, Inc. has a fifty-two week low of $49.46 and a fifty-two week high of $83.35.

Procore Technologies (NYSE:PCOR) last issued its earnings results on Wednesday, October 30th. The company reported ($0.11) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.11). Procore Technologies had a negative net margin of 6.59% and a negative return on equity of 2.51%. The business had revenue of $295.89 million during the quarter, compared to the consensus estimate of $287.42 million. As a group, sell-side analysts predict that Procore Technologies, Inc. will post -0.27 earnings per share for the current fiscal 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.