Jennison Associates LLC Purchases 86,277 Shares of Procore Technologies, Inc. (NYSE:PCOR)

Jennison Associates LLC boosted its position in Procore Technologies, Inc. (NYSE:PCOR) by 33.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 345,881 shares of the company’s stock after purchasing an additional 86,277 shares during the quarter. Jennison Associates LLC owned about 0.23% of Procore Technologies worth $25,917,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PCOR. Chicago Partners Investment Group LLC boosted its position in shares of Procore Technologies by 0.8% in the fourth quarter. Chicago Partners Investment Group LLC now owns 15,707 shares of the company’s stock valued at $1,199,000 after acquiring an additional 129 shares during the period. Hanson & Doremus Investment Management boosted its holdings in Procore Technologies by 8.2% in the 4th quarter. Hanson & Doremus Investment Management now owns 28,821 shares of the company’s stock valued at $2,160,000 after purchasing an additional 2,192 shares during the period. Robeco Institutional Asset Management B.V. grew its position in shares of Procore Technologies by 55.8% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 16,731 shares of the company’s stock worth $1,254,000 after purchasing an additional 5,989 shares in the last quarter. KBC Group NV increased its holdings in shares of Procore Technologies by 1,550.7% during the fourth quarter. KBC Group NV now owns 44,933 shares of the company’s stock worth $3,367,000 after purchasing an additional 42,211 shares during the period. Finally, Zweig DiMenna Associates LLC raised its position in shares of Procore Technologies by 23.5% in the fourth quarter. Zweig DiMenna Associates LLC now owns 120,000 shares of the company’s stock valued at $8,992,000 after buying an additional 22,800 shares in the last quarter. 81.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on PCOR. Piper Sandler increased their price target on Procore Technologies from $70.00 to $90.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Robert W. Baird increased their target price on Procore Technologies from $87.00 to $96.00 and gave the stock an “outperform” rating in a report on Thursday, December 12th. TD Cowen boosted their price target on Procore Technologies from $70.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, November 22nd. Mizuho increased their price objective on shares of Procore Technologies from $65.00 to $75.00 and gave the stock a “neutral” rating in a research note on Friday, December 13th. Finally, Stifel Nicolaus boosted their target price on shares of Procore Technologies from $84.00 to $93.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Four equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Procore Technologies has an average rating of “Moderate Buy” and an average price target of $86.00.

Procore Technologies Trading Down 0.2 %

NYSE PCOR opened at $77.46 on Thursday. The company has a market cap of $11.52 billion, a price-to-earnings ratio of -154.92 and a beta of 0.84. Procore Technologies, Inc. has a twelve month low of $49.46 and a twelve month high of $86.67. 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 fifty day moving average is $78.43 and its 200 day moving average is $68.24.

Insider Buying and Selling at Procore Technologies

In other Procore Technologies news, major shareholder Iconiq Strategic Partners Ii, sold 12,340 shares of the company’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $71.04, for a total value of $876,633.60. Following the completion of the transaction, the insider now directly owns 2,284,989 shares in the company, valued at approximately $162,325,618.56. This represents a 0.54 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Connor Kevin J. O sold 33,332 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $81.93, for a total transaction of $2,730,890.76. Following the transaction, the director now directly owns 1,282,648 shares of the company’s stock, valued at $105,087,350.64. The trade was a 2.53 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 119,304 shares of company stock worth $9,026,520. 29.00% of the stock is currently owned by insiders.

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.