Procore Technologies, Inc. (NYSE:PCOR) Shares Sold by Sycomore Asset Management

Sycomore Asset Management lessened its stake in Procore Technologies, Inc. (NYSE:PCOR) by 29.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 155,373 shares of the company’s stock after selling 64,764 shares during the period. Procore Technologies makes up approximately 1.5% of Sycomore Asset Management’s holdings, making the stock its 21st biggest holding. Sycomore Asset Management’s holdings in Procore Technologies were worth $11,642,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of PCOR. Diversified Trust Co raised its holdings in shares of Procore Technologies by 157.1% during the fourth quarter. Diversified Trust Co now owns 50,649 shares of the company’s stock worth $3,795,000 after purchasing an additional 30,948 shares during the period. Westfield Capital Management Co. LP grew its position in shares of Procore Technologies by 39.2% during the 3rd quarter. Westfield Capital Management Co. LP now owns 966,215 shares of the company’s stock valued at $59,635,000 after buying an additional 272,030 shares during the last quarter. Barclays PLC raised its stake in Procore Technologies by 49.1% during the third quarter. Barclays PLC now owns 69,012 shares of the company’s stock worth $4,259,000 after acquiring an additional 22,734 shares during the period. Advantage Alpha Capital Partners LP lifted its holdings in shares of Procore Technologies by 30.2% in the 3rd quarter. Advantage Alpha Capital Partners LP now owns 126,783 shares of the company’s stock worth $7,825,000 after purchasing an additional 29,431 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its position in Procore Technologies by 99.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,861,024 shares of the company’s stock valued at $214,377,000 after purchasing an additional 1,425,967 shares during the period. Institutional investors own 81.10% of the company’s stock.

Procore Technologies Price Performance

NYSE:PCOR opened at $75.42 on Monday. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03. The business’s 50-day moving average price is $78.21 and its 200 day moving average price is $68.32. Procore Technologies, Inc. has a 52-week low of $49.46 and a 52-week high of $86.67.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. KeyCorp boosted their price target on shares of Procore Technologies from $68.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. JPMorgan Chase & Co. upped their target price on shares of Procore Technologies from $85.00 to $92.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Canaccord Genuity Group lifted their price target on Procore Technologies from $67.00 to $83.00 and gave the company a “buy” rating in a report on Friday, November 22nd. BMO Capital Markets increased their price objective on Procore Technologies from $71.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, November 22nd. Finally, DA Davidson raised their target price on Procore Technologies from $60.00 to $70.00 and gave the company a “neutral” rating in a research report on Friday, November 22nd. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $86.00.

Insider Activity

In related news, insider Benjamin C. Singer sold 1,500 shares of Procore Technologies stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $76.18, for a total value of $114,270.00. Following the transaction, the insider now owns 84,539 shares of the company’s stock, valued at approximately $6,440,181.02. This trade represents a 1.74 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP William Fred Fleming, Jr. sold 2,668 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $71.36, for a total transaction of $190,388.48. Following the sale, the senior vice president now directly owns 72,605 shares of the company’s stock, valued at $5,181,092.80. This represents a 3.54 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 132,124 shares of company stock worth $10,014,301. Corporate insiders own 29.00% of the company’s stock.

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.