Susquehanna Fundamental Investments LLC Takes $10.35 Million Position in Procore Technologies, Inc. (NYSE:PCOR)

Susquehanna Fundamental Investments LLC purchased a new position in Procore Technologies, Inc. (NYSE:PCOR - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 138,068 shares of the company's stock, valued at approximately $10,345,000. Susquehanna Fundamental Investments LLC owned about 0.09% of Procore Technologies at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Diversified Trust Co lifted its stake in shares of Procore Technologies by 157.1% in the fourth quarter. Diversified Trust Co now owns 50,649 shares of the company's stock valued at $3,795,000 after buying an additional 30,948 shares during the period. US Bancorp DE lifted its stake in shares of Procore Technologies by 18.8% during the fourth quarter. US Bancorp DE now owns 21,416 shares of the company's stock valued at $1,605,000 after acquiring an additional 3,390 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Procore Technologies during the fourth quarter valued at $20,729,000. Barclays PLC lifted its stake in Procore Technologies by 49.1% in the third quarter. Barclays PLC now owns 69,012 shares of the company's stock valued at $4,259,000 after buying an additional 22,734 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new position in Procore Technologies in the fourth quarter valued at about $56,000. 81.10% of the stock is owned by institutional investors and hedge funds.

Procore Technologies Trading Down 0.0 %

NYSE:PCOR traded down $0.01 during mid-day trading on Wednesday, reaching $63.98. The company's stock had a trading volume of 914,756 shares, compared to its average volume of 1,730,235. The company's fifty day simple moving average is $66.90 and its two-hundred day simple moving average is $72.26. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57. Procore Technologies, Inc. has a twelve month low of $49.46 and a twelve month high of $88.92. The stock has a market cap of $9.54 billion, a P/E ratio of -88.86 and a beta of 0.90.

Procore Technologies (NYSE:PCOR - Get Free Report) last announced 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 for the quarter, compared to analyst estimates of $297.72 million. On average, equities analysts predict that Procore Technologies, Inc. will post -0.15 EPS for the current year.

Insider Transactions at Procore Technologies

In other news, CFO Howard Fu sold 1,190 shares of the firm's stock in a transaction dated Friday, March 14th. The stock was sold at an average price of $67.00, for a total transaction of $79,730.00. Following the sale, the chief financial officer now owns 146,160 shares of the company's stock, valued at $9,792,720. This trade represents a 0.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder Iconiq Strategic Partners Ii, sold 1,074 shares of Procore Technologies stock in a transaction that occurred on 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 sale, the insider now directly owns 200 shares in the company, valued at approximately $17,480. This represents a 84.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 66,962 shares of company stock valued at $5,041,588 over the last ninety days. Corporate insiders own 29.00% of the company's stock.

Analyst Upgrades and Downgrades

PCOR has been the subject of a number of research reports. UBS Group decreased their price objective on Procore Technologies from $110.00 to $87.00 and set a "buy" rating for the company in a report on Thursday, April 24th. BMO Capital Markets decreased their price target on shares of Procore Technologies from $95.00 to $75.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. JMP Securities upped their price target on shares of Procore Technologies from $90.00 to $95.00 and gave the company a "market outperform" rating in a research note on Tuesday, February 18th. Jefferies Financial Group reduced their price objective on shares of Procore Technologies from $100.00 to $90.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Finally, Mizuho dropped their target price on shares of Procore Technologies from $75.00 to $65.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. Four 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. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $81.18.

About Procore Technologies

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.