11,577 Shares in Procore Technologies, Inc. (NYSE:PCOR) Bought by Balyasny Asset Management L.P.

Balyasny Asset Management L.P. acquired a new position in Procore Technologies, Inc. (NYSE:PCOR - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 11,577 shares of the company's stock, valued at approximately $867,000.

A number of other institutional investors have also recently made changes to their positions in PCOR. Parkside Financial Bank & Trust increased its stake in shares of Procore Technologies by 61.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 387 shares of the company's stock valued at $29,000 after purchasing an additional 147 shares in the last quarter. V Square Quantitative Management LLC lifted its holdings in Procore Technologies by 37.8% in the fourth quarter. V Square Quantitative Management LLC now owns 591 shares of the company's stock valued at $44,000 after acquiring an additional 162 shares during the last quarter. Huntington National Bank lifted its stake in Procore Technologies by 161.6% during the fourth quarter. Huntington National Bank now owns 654 shares of the company's stock worth $49,000 after purchasing an additional 404 shares in the last quarter. Skandinaviska Enskilda Banken AB publ lifted its stake in Procore Technologies by 1,434.0% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 721 shares of the company's stock worth $54,000 after purchasing an additional 674 shares in the last quarter. Finally, SBI Securities Co. Ltd. acquired a new stake in shares of Procore Technologies during the fourth quarter worth about $56,000. Institutional investors and hedge funds own 81.10% of the company's stock.

Wall Street Analyst Weigh In

PCOR has been the topic of a number of recent research reports. KeyCorp cut their price objective on Procore Technologies from $96.00 to $77.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. JPMorgan Chase & Co. cut their price objective on Procore Technologies from $97.00 to $85.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. Stifel Nicolaus cut their price objective on Procore Technologies from $93.00 to $75.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. DA Davidson raised Procore Technologies to a "hold" rating in a research report on Tuesday. Finally, 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 research note on Tuesday, February 18th. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $80.24.

Procore Technologies Price Performance

Shares of PCOR stock traded down $0.35 during midday trading on Friday, reaching $71.08. 767,569 shares of the company traded hands, compared to its average volume of 1,723,071. 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 firm's 50 day simple moving average is $64.88 and its two-hundred day simple moving average is $72.61. Procore Technologies, Inc. has a 1-year low of $49.46 and a 1-year high of $88.92. The firm has a market cap of $10.60 billion, a PE ratio of -98.72 and a beta of 0.90.

Procore Technologies (NYSE:PCOR - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.23 earnings per share for the quarter, topping analysts' consensus estimates of $0.17 by $0.06. Procore Technologies had a negative net margin of 9.20% and a negative return on equity of 5.10%. The business had revenue of $310.63 million during the quarter, compared to analysts' expectations of $302.66 million. During the same period last year, the company posted $0.30 EPS. The company's revenue was up 15.3% on a year-over-year basis. On average, equities research analysts expect that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.

Insiders Place Their Bets

In other Procore Technologies news, Director Connor Kevin J. O sold 7,692 shares of Procore Technologies stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $72.16, for a total value of $555,054.72. Following the completion of the sale, the director now directly owns 1,192,900 shares of the company's stock, valued at approximately $86,079,664. The trade was a 0.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Howard Fu sold 1,480 shares of Procore Technologies stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $60.02, for a total transaction of $88,829.60. Following the completion of the sale, the chief financial officer now directly owns 206,704 shares of the company's stock, valued at $12,406,374.08. The trade was a 0.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 69,834 shares of company stock valued at $5,181,472. Company 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.