Jefferies Financial Group Inc. Acquires 164,477 Shares of Procore Technologies, Inc. $PCOR

Jefferies Financial Group Inc. boosted its holdings in Procore Technologies, Inc. (NYSE:PCOR) by 304.8% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 218,440 shares of the company’s stock after acquiring an additional 164,477 shares during the period. Jefferies Financial Group Inc. owned about 0.14% of Procore Technologies worth $11,298,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Twin Tree Management LP acquired a new stake in shares of Procore Technologies during the 2nd quarter worth approximately $40,000. Global Retirement Partners LLC acquired a new position in Procore Technologies during the 2nd quarter valued at approximately $52,000. Canton Hathaway LLC bought a new position in Procore Technologies during the 3rd quarter worth $69,000. Versant Capital Management Inc grew its stake in Procore Technologies by 50.3% during the 2nd quarter. Versant Capital Management Inc now owns 1,581 shares of the company’s stock worth $64,000 after buying an additional 529 shares during the last quarter. Finally, Pinnacle Wealth Planning Services Inc. grew its stake in Procore Technologies by 586.7% during the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 2,218 shares of the company’s stock worth $115,000 after buying an additional 1,895 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PCOR has been the topic of a number of recent research reports. Truist Financial set a $91.00 target price on Procore Technologies in a research note on Thursday, November 5th. Mizuho set a $68.00 price target on shares of Procore Technologies in a research report on Wednesday, November 4th. TD Cowen upped their price target on shares of Procore Technologies from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Monday, November 2nd. Guggenheim increased their price objective on shares of Procore Technologies from $68.00 to $85.00 and gave the stock a “buy” rating in a report on Thursday, November 5th. Finally, Jefferies Financial Group cut their price objective on shares of Procore Technologies from $95.00 to $75.00 and set a “buy” rating on the stock in a research report on Tuesday, July 21st. Eighteen analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Procore Technologies has an average rating of “Moderate Buy” and an average target price of $80.35.

Procore Technologies Stock Performance

Shares of NYSE PCOR opened at $77.49 on Thursday. Procore Technologies, Inc. has a 12-month low of $38.03 and a 12-month high of $80.40. The company has a market cap of $11.59 billion, a PE ratio of -336.88 and a beta of 0.75. The stock has a 50 day simple moving average of $58.38 and a 200-day simple moving average of $53.68. The company has a current ratio of 1.06, a quick ratio of 1.17 and a debt-to-equity ratio of 0.86.

Procore Technologies (NYSE:PCOR) last posted its earnings results on Tuesday, November 3rd. The company reported $0.51 EPS for the quarter, beating the consensus estimate of $0.46 by $0.05. The firm had revenue of $402.31 million for the quarter, compared to analysts’ expectations of $384.38 million. Procore Technologies had a positive return on equity of 2.67% and a negative net margin of 2.31%. The firm’s revenue was up 18.7% compared to the same quarter last year. During the same period last year, the firm earned $0.42 EPS. On average, equities research analysts forecast that Procore Technologies, Inc. will post 0.42 EPS for the current year.

Insiders Place Their Bets

In related news, Chairman Craig F. Jr. Courtemanche sold 56,122 shares of Procore Technologies stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $53.48, for a total transaction of $3,001,404.56. Following the sale, the chairman directly owned 908,316 shares in the company, valued at $48,576,739.68. The trade was a 5.82% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Elisa Steele sold 3,337 shares of the company’s stock in a transaction dated Wednesday, November 4th. The stock was sold at an average price of $69.10, for a total transaction of $230,586.70. Following the completion of the sale, the director directly owned 55,034 shares of the company’s stock, valued at $3,802,849.40. The trade was a 5.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 146,686 shares of company stock worth $8,231,827. 16.80% of the stock is owned by company insiders.

Procore Technologies Company Profile

Procore Technologies provides cloud-based construction management software designed to help construction companies plan, manage and execute projects. Its platform connects project teams and stakeholders, including owners, general contractors, specialty contractors and design professionals. Procore’s products support project management, construction financials, workforce coordination, quality and safety processes, and project data and analytics. The platform also offers integrations with third-party applications to help customers connect construction workflows and business systems.