Procore Technologies, Inc. (NYSE:PCOR) Shares Purchased by Parallel Advisors LLC

Parallel Advisors LLC boosted its holdings in shares of Procore Technologies, Inc. (NYSE:PCOR) by 19.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,098 shares of the company’s stock after acquiring an additional 1,012 shares during the quarter. Parallel Advisors LLC’s holdings in Procore Technologies were worth $457,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PCOR. Corient Private Wealth LLC purchased a new position in shares of Procore Technologies during the 4th quarter worth $243,000. Envestnet Portfolio Solutions Inc. lifted its position in Procore Technologies by 99.8% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 7,991 shares of the company’s stock valued at $599,000 after buying an additional 3,991 shares during the last quarter. Natixis Advisors LLC boosted its stake in Procore Technologies by 112.7% during the fourth quarter. Natixis Advisors LLC now owns 32,122 shares of the company’s stock worth $2,407,000 after buying an additional 17,017 shares during the period. Skandinaviska Enskilda Banken AB publ increased its position in shares of Procore Technologies by 1,434.0% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 721 shares of the company’s stock valued at $54,000 after acquiring an additional 674 shares during the last quarter. Finally, Swiss National Bank raised its stake in shares of Procore Technologies by 1.7% in the 4th quarter. Swiss National Bank now owns 203,400 shares of the company’s stock valued at $15,241,000 after acquiring an additional 3,400 shares during the period. Hedge funds and other institutional investors own 81.10% of the company’s stock.

Procore Technologies Stock Performance

Shares of PCOR stock opened at $70.37 on Friday. The company has a market cap of $10.55 billion, a P/E ratio of -97.73 and a beta of 0.85. The firm has a fifty day moving average price of $76.38 and a 200 day moving average price of $71.43. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03. Procore Technologies, Inc. has a 12 month low of $49.46 and a 12 month high of $88.92.

Procore Technologies (NYSE:PCOR) last released its quarterly earnings data on Thursday, February 13th. The company reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates 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 business had revenue of $302.05 million during the quarter, compared to analysts’ expectations of $297.72 million. Sell-side analysts predict that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the stock. Robert W. Baird lifted their target price on shares of Procore Technologies from $87.00 to $96.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. Mizuho lifted their price objective on Procore Technologies from $65.00 to $75.00 and gave the company a “neutral” rating in a research note on Friday, December 13th. Piper Sandler boosted their price objective on Procore Technologies from $90.00 to $110.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Jefferies Financial Group raised Procore Technologies from a “hold” rating to a “buy” rating and increased their target price for the stock from $80.00 to $100.00 in a research note on Monday, January 6th. Finally, TD Cowen lifted their target price on Procore Technologies from $70.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, November 22nd. Four investment 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $90.24.

Insider Buying and Selling at Procore Technologies

In other news, CFO Howard Fu sold 1,190 shares of the business’s stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $67.00, for a total value of $79,730.00. Following the completion of the sale, the chief financial officer now directly owns 146,160 shares of the company’s stock, valued at approximately $9,792,720. The trade was a 0.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Benjamin C. Singer sold 1,500 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The stock was sold at an average price of $76.18, for a total value of $114,270.00. Following the transaction, the insider now owns 84,539 shares in the company, valued at $6,440,181.02. This represents a 1.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 71,104 shares of company stock worth $5,541,738 over the last three months. Insiders own 29.00% of the company’s stock.

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.