Ameriprise Financial Inc. Has $71.61 Million Stake in Procore Technologies, Inc. (NYSE:PCOR)

Ameriprise Financial Inc. decreased its position in Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 10.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 955,709 shares of the company's stock after selling 106,462 shares during the period. Ameriprise Financial Inc. owned about 0.64% of Procore Technologies worth $71,613,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust boosted its stake in 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 increased its stake in shares of Procore Technologies by 37.8% in the fourth quarter. V Square Quantitative Management LLC now owns 591 shares of the company's stock worth $44,000 after acquiring an additional 162 shares during the last quarter. Huntington National Bank boosted its position in Procore Technologies by 161.6% during the fourth quarter. Huntington National Bank now owns 654 shares of the company's stock valued at $49,000 after purchasing an additional 404 shares during the last quarter. Hilltop National Bank purchased a new position in Procore Technologies in the fourth quarter valued at about $53,000. Finally, Skandinaviska Enskilda Banken AB publ raised its stake in shares of Procore Technologies by 1,434.0% during 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 in the last quarter. Institutional investors and hedge funds own 81.10% of the company's stock.

Procore Technologies Price Performance

NYSE PCOR traded up $0.07 during trading hours on Tuesday, reaching $72.28. 1,327,280 shares of the company's stock were exchanged, compared to its average volume of 1,720,996. The stock has a market cap of $10.78 billion, a PE ratio of -100.39 and a beta of 0.90. Procore Technologies, Inc. has a one year low of $49.46 and a one year high of $88.92. The firm has a fifty day moving average of $64.75 and a 200-day moving average of $72.50. 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 (NYSE:PCOR - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.23 EPS for the quarter, beating analysts' consensus estimates of $0.17 by $0.06. The firm had revenue of $310.63 million for the quarter, compared to analyst estimates of $302.66 million. Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. The business's quarterly revenue was up 15.3% compared to the same quarter last year. During the same period last year, the company earned $0.30 EPS. On average, equities research analysts predict that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PCOR has been the subject of several recent research reports. KeyCorp lowered their price target on Procore Technologies from $96.00 to $77.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. UBS Group dropped their price target on shares of Procore Technologies from $110.00 to $87.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. JMP Securities upped their price objective on shares of Procore Technologies from $90.00 to $95.00 and gave the stock a "market outperform" rating in a report on Tuesday, February 18th. Barclays raised their target price on Procore Technologies from $70.00 to $72.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. Finally, Stifel Nicolaus decreased their price target on Procore Technologies from $93.00 to $75.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $80.24.

Insider Buying and Selling at Procore Technologies

In other news, CFO Howard Fu sold 8,000 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $87.00, for a total value of $696,000.00. Following the transaction, the chief financial officer now owns 156,188 shares of the company's stock, valued at $13,588,356. This represents a 4.87% decrease in their position. 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 the stock in a transaction 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 transaction, the insider now directly owns 200 shares in the company, valued at approximately $17,480. This trade represents a 84.30% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 54,142 shares of company stock worth $4,053,807. Insiders own 29.00% of the company's stock.

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.