Procore Technologies, Inc. (NYSE:PCOR) Position Increased by Truist Financial Corp

Truist Financial Corp increased its position in shares of Procore Technologies, Inc. (NYSE:PCOR) by 31.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 73,361 shares of the company’s stock after buying an additional 17,561 shares during the quarter. Truist Financial Corp’s holdings in Procore Technologies were worth $5,497,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of PCOR. Creative Planning bought a new position in Procore Technologies during the third quarter valued at about $234,000. Raymond James & Associates raised its holdings in Procore Technologies by 3.0% during the third quarter. Raymond James & Associates now owns 47,982 shares of the company’s stock valued at $2,961,000 after buying an additional 1,386 shares in the last quarter. International Assets Investment Management LLC raised its holdings in Procore Technologies by 6,069.2% during the third quarter. International Assets Investment Management LLC now owns 802 shares of the company’s stock valued at $49,000 after buying an additional 789 shares in the last quarter. Wealth Enhancement Advisory Services LLC raised its holdings in Procore Technologies by 120.9% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 8,279 shares of the company’s stock valued at $511,000 after buying an additional 4,531 shares in the last quarter. Finally, Vanderbilt University bought a new position in Procore Technologies during the third quarter valued at about $2,924,000. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Procore Technologies news, CRO Lawrence Joseph Stack sold 12,000 shares of Procore Technologies stock in a transaction on Friday, February 21st. The shares were sold at an average price of $82.92, for a total transaction of $995,040.00. Following the completion of the sale, the executive now owns 161,368 shares of the company’s stock, valued at approximately $13,380,634.56. The trade was a 6.92 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Iconiq Strategic Partners Ii, sold 1,074 shares of Procore Technologies stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $87.40, for a total transaction of $93,867.60. Following the sale, the insider now directly owns 200 shares of the company’s stock, valued at $17,480. This represents a 84.30 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 101,811 shares of company stock valued at $8,227,968. Company insiders own 29.00% of the company’s stock.

Wall Street Analyst Weigh In

PCOR has been the topic of several recent research reports. Stifel Nicolaus raised their target price on Procore Technologies from $84.00 to $93.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Canaccord Genuity Group raised their price target on Procore Technologies from $83.00 to $97.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Piper Sandler raised their price target on Procore Technologies from $90.00 to $110.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Mizuho raised their price target on Procore Technologies from $65.00 to $75.00 and gave the company a “neutral” rating in a research report on Friday, December 13th. Finally, BMO Capital Markets lifted their target price on Procore Technologies from $71.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, November 22nd. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $89.94.

Procore Technologies Stock Performance

PCOR stock opened at $82.28 on Friday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57. The company has a 50 day moving average price of $78.09 and a 200 day moving average price of $69.49. Procore Technologies, Inc. has a fifty-two week low of $49.46 and a fifty-two week high of $88.92. The stock has a market capitalization of $12.23 billion, a PE ratio of -114.27 and a beta of 0.84.

Procore Technologies (NYSE:PCOR) last posted its quarterly earnings data on Thursday, February 13th. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.46). Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. The company had revenue of $302.05 million during the quarter, compared to the consensus estimate of $297.72 million. Analysts forecast that Procore Technologies, Inc. will post -0.15 EPS for the current 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.