Advantage Alpha Capital Partners LP Lowers Position in Procore Technologies, Inc. (NYSE:PCOR)

Advantage Alpha Capital Partners LP trimmed its position in Procore Technologies, Inc. (NYSE:PCOR) by 37.6% during the 4th quarter, Holdings Channel.com reports. The firm owned 79,076 shares of the company’s stock after selling 47,707 shares during the period. Procore Technologies comprises 1.4% of Advantage Alpha Capital Partners LP’s investment portfolio, making the stock its 22nd largest position. Advantage Alpha Capital Partners LP’s holdings in Procore Technologies were worth $5,925,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in shares of Procore Technologies by 7.6% in the 4th quarter. Vanguard Group Inc. now owns 11,900,337 shares of the company’s stock worth $891,692,000 after buying an additional 838,925 shares during the period. LPL Financial LLC boosted its stake in Procore Technologies by 147.2% during the fourth quarter. LPL Financial LLC now owns 23,399 shares of the company’s stock worth $1,753,000 after acquiring an additional 13,935 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new stake in Procore Technologies in the fourth quarter worth about $1,574,000. Sei Investments Co. increased its stake in shares of Procore Technologies by 75.5% during the fourth quarter. Sei Investments Co. now owns 465,472 shares of the company’s stock valued at $34,878,000 after purchasing an additional 200,317 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in shares of Procore Technologies by 486.2% during the fourth quarter. American Century Companies Inc. now owns 25,689 shares of the company’s stock valued at $1,925,000 after purchasing an additional 21,307 shares during the last quarter. Institutional investors own 81.10% of the company’s stock.

Procore Technologies Trading Up 1.3 %

Shares of PCOR stock opened at $70.37 on Monday. 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 market cap of $10.55 billion, a price-to-earnings ratio of -97.73 and a beta of 0.85. Procore Technologies, Inc. has a 1 year low of $49.46 and a 1 year high of $88.92. The firm has a fifty day moving average price of $76.38 and a 200-day moving average price of $71.64.

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

Insiders Place Their Bets

In other Procore Technologies news, CFO Howard Fu sold 1,447 shares of the stock in a transaction on Friday, March 21st. The stock was sold at an average price of $68.79, for a total value of $99,539.13. Following the completion of the sale, the chief financial officer now owns 144,713 shares in the company, valued at approximately $9,954,807.27. This represents a 0.99 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Iconiq Strategic Partners Ii, sold 1,074 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $87.40, for a total value of $93,867.60. Following the completion of the transaction, the insider now owns 200 shares in the company, valued at $17,480. The trade was a 84.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 69,604 shares of company stock worth $5,427,468. Company insiders own 29.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on PCOR shares. Jefferies Financial Group raised Procore Technologies from a “hold” rating to a “buy” rating and raised their price objective for the company from $80.00 to $100.00 in a research report on Monday, January 6th. JMP Securities raised their price target on Procore Technologies from $90.00 to $95.00 and gave the company a “market outperform” rating in a report on Tuesday, February 18th. Macquarie dropped their price target on shares of Procore Technologies from $93.00 to $75.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th. Canaccord Genuity Group raised their price objective on shares of Procore Technologies from $83.00 to $97.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Finally, Robert W. Baird upped their target price on shares of Procore Technologies from $87.00 to $96.00 and gave the stock an “outperform” rating in a research note on Thursday, December 12th. Four 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $90.24.

Procore Technologies Company 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.