271,856 Shares in Procore Technologies, Inc. (NYSE:PCOR) Acquired by Frontier Capital Management Co. LLC

Frontier Capital Management Co. LLC bought a new position in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 271,856 shares of the company's stock, valued at approximately $20,370,000. Frontier Capital Management Co. LLC owned 0.18% of Procore Technologies at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in PCOR. Parkside Financial Bank & Trust raised its holdings 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 worth $29,000 after purchasing an additional 147 shares during the period. V Square Quantitative Management LLC raised its holdings in shares of Procore Technologies by 37.8% in the 4th quarter. V Square Quantitative Management LLC now owns 591 shares of the company's stock worth $44,000 after purchasing an additional 162 shares during the period. Huntington National Bank raised its holdings in shares of Procore Technologies by 161.6% in the 4th quarter. Huntington National Bank now owns 654 shares of the company's stock worth $49,000 after purchasing an additional 404 shares during the period. Hilltop National Bank purchased a new position in shares of Procore Technologies in the 4th quarter worth about $53,000. Finally, Skandinaviska Enskilda Banken AB publ raised its holdings in shares of Procore Technologies by 1,434.0% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 721 shares of the company's stock worth $54,000 after purchasing an additional 674 shares during the period. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PCOR has been the topic of a number of research reports. JMP Securities raised their price objective on Procore Technologies from $90.00 to $95.00 and gave the stock a "market outperform" rating in a report on Tuesday, February 18th. 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 report on Friday, May 2nd. Mizuho cut their price objective on Procore Technologies from $75.00 to $65.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. KeyCorp cut their price objective on Procore Technologies from $96.00 to $77.00 and set an "overweight" rating on the stock in a report on Monday, April 21st. Finally, Scotiabank lowered their target price on Procore Technologies from $95.00 to $75.00 and set a "sector outperform" rating for the company in a research note on Thursday, April 24th. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $80.24.

Procore Technologies Stock Down 1.2%

NYSE PCOR traded down $0.78 during mid-day trading on Friday, reaching $65.62. 1,051,932 shares of the company's stock traded hands, compared to its average volume of 1,715,558. Procore Technologies, Inc. has a 1-year low of $49.46 and a 1-year high of $88.92. The company has a fifty day simple moving average of $64.84 and a 200-day simple moving average of $72.43. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03. The company has a market cap of $9.79 billion, a price-to-earnings ratio of -91.14 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, beating analysts' consensus estimates of $0.17 by $0.06. Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. The firm had revenue of $310.63 million during the quarter, compared to analyst estimates of $302.66 million. During the same quarter last year, the firm earned $0.30 EPS. Procore Technologies's quarterly revenue was up 15.3% on a year-over-year basis. As a group, equities research analysts expect that Procore Technologies, Inc. will post -0.15 EPS for the current year.

Insider Buying and Selling at Procore Technologies

In other news, major shareholder Iconiq Strategic Partners Ii, sold 1,074 shares of Procore Technologies stock in a transaction that occurred on Wednesday, February 19th. The stock was 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 approximately $17,480. This trade represents a 84.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Benjamin C. Singer sold 6,937 shares of Procore Technologies stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $83.60, for a total value of $579,933.20. Following the completion of the transaction, the insider now owns 72,110 shares of the company's stock, valued at approximately $6,028,396. The trade was a 8.78% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 54,142 shares of company stock worth $4,053,807 in the last 90 days. 29.00% of the stock is owned by corporate insiders.

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.