Spark Investment Management LLC Lowers Position in PROS Holdings, Inc. (PRO)
Spark Investment Management LLC lowered its stake in shares of PROS Holdings, Inc. (NYSE:PRO) by 67.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 9,298 shares of the software maker’s stock after selling 19,202 shares during the period. Spark Investment Management LLC’s holdings in PROS Holdings were worth $254,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in the stock. Bank of Montreal Can boosted its stake in shares of PROS Holdings by 1.4% in the second quarter. Bank of Montreal Can now owns 4,414 shares of the software maker’s stock worth $121,000 after buying an additional 59 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of PROS Holdings by 3.8% in the first quarter. Envestnet Asset Management Inc. now owns 27,542 shares of the software maker’s stock worth $665,000 after buying an additional 998 shares during the period. American International Group Inc. boosted its stake in shares of PROS Holdings by 7.0% in the first quarter. American International Group Inc. now owns 15,507 shares of the software maker’s stock worth $375,000 after buying an additional 1,021 shares during the period. Teachers Advisors LLC boosted its stake in shares of PROS Holdings by 2.8% in the fourth quarter. Teachers Advisors LLC now owns 41,140 shares of the software maker’s stock worth $885,000 after buying an additional 1,105 shares during the period. Finally, Blair William & Co. IL boosted its stake in shares of PROS Holdings by 5.5% in the first quarter. Blair William & Co. IL now owns 32,640 shares of the software maker’s stock worth $758,000 after buying an additional 1,700 shares during the period. 87.86% of the stock is owned by institutional investors.
PROS Holdings, Inc. (PRO) opened at 27.02 on Wednesday. The firm has a 50-day moving average of $28.07 and a 200-day moving average of $25.61. PROS Holdings, Inc. has a one year low of $17.80 and a one year high of $30.49. The firm’s market cap is $858.91 million.
PROS Holdings (NYSE:PRO) last posted its earnings results on Thursday, August 3rd. The software maker reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.04. PROS Holdings had a negative net margin of 46.55% and a negative return on equity of 2,114.05%. The business had revenue of $40.40 million for the quarter, compared to analyst estimates of $39.48 million. During the same period last year, the business posted ($0.26) EPS. PROS Holdings’s revenue was up 9.2% compared to the same quarter last year. Analysts anticipate that PROS Holdings, Inc. will post ($0.86) EPS for the current year.
A number of brokerages recently weighed in on PRO. Stifel Nicolaus upped their price target on shares of PROS Holdings from $23.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, May 3rd. Pacific Crest upped their price target on shares of PROS Holdings from $30.00 to $35.00 and gave the stock an “overweight” rating in a research report on Thursday, June 29th. ValuEngine raised shares of PROS Holdings from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Finally, Deutsche Bank AG upped their price target on shares of PROS Holdings to $35.00 and gave the stock a “buy” rating in a research report on Wednesday, May 3rd. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus price target of $31.20.
In related news, CEO Andres Reiner sold 28,175 shares of the firm’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $29.48, for a total value of $830,599.00. Following the transaction, the chief executive officer now directly owns 439,490 shares in the company, valued at approximately $12,956,165.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 84,525 shares of company stock worth $2,412,625 over the last quarter. 17.20% of the stock is currently owned by company insiders.
About PROS Holdings
PROS Holdings, Inc (PROS) is a provider of revenue and profit realization solutions. The Company provides its solutions to enterprises across the manufacturing, distribution, services, and travel industries, including automotive and industrial, business-to-business (B2B) services, cargo, chemicals and energy, consumer goods, insurance, food and beverage, healthcare, high tech and travel.
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