Comerica Bank Has $9.84 Million Position in Procore Technologies, Inc. (NYSE:PCOR)

Comerica Bank lifted its holdings in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 87.0% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 131,316 shares of the company's stock after acquiring an additional 61,082 shares during the period. Comerica Bank owned approximately 0.09% of Procore Technologies worth $9,839,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in PCOR. Versant Capital Management Inc lifted its stake in Procore Technologies by 92.1% during the fourth quarter. Versant Capital Management Inc now owns 365 shares of the company's stock worth $27,000 after purchasing an additional 175 shares during the period. Parkside Financial Bank & Trust lifted its position in shares of Procore Technologies by 61.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 387 shares of the company's stock worth $29,000 after buying an additional 147 shares during the period. V Square Quantitative Management LLC boosted its stake in Procore Technologies by 37.8% in the 4th quarter. V Square Quantitative Management LLC now owns 591 shares of the company's stock valued at $44,000 after buying an additional 162 shares in the last quarter. Huntington National Bank grew its position in Procore Technologies by 161.6% in the fourth quarter. Huntington National Bank now owns 654 shares of the company's stock valued at $49,000 after acquiring an additional 404 shares during the period. Finally, Hilltop National Bank acquired a new position in Procore Technologies during the fourth quarter worth $53,000. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Procore Technologies Price Performance

Shares of PCOR stock opened at $64.95 on Friday. The firm has a market capitalization of $9.69 billion, a price-to-earnings ratio of -90.21 and a beta of 0.90. Procore Technologies, Inc. has a 12-month low of $49.46 and a 12-month high of $88.92. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03. The firm has a fifty day moving average of $65.91 and a 200-day moving average of $72.22.

Procore Technologies (NYSE:PCOR - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $0.23 earnings per share (EPS) 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 analysts' expectations of $302.66 million. During the same period in the previous year, the firm earned $0.30 earnings per share. The company's revenue was up 15.3% on a year-over-year basis. On average, equities research analysts forecast that Procore Technologies, Inc. will post -0.15 earnings per share for the current year.

Insiders Place Their Bets

In other Procore Technologies news, CFO Howard Fu sold 1,480 shares of the firm's stock in a transaction that occurred on Wednesday, April 23rd. The stock was sold at an average price of $60.02, for a total value of $88,829.60. Following the completion of the transaction, the chief financial officer now directly owns 206,704 shares in the company, valued at $12,406,374.08. This trade represents a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Connor Kevin J. O sold 6,410 shares of the company's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $77.33, for a total value of $495,685.30. Following the sale, the director now owns 1,244,188 shares in the company, valued at approximately $96,213,058.04. This represents a 0.51 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 66,962 shares of company stock worth $5,041,588. Company insiders own 29.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Macquarie lowered their target price on shares of Procore Technologies from $93.00 to $75.00 and set a "neutral" rating on the stock in a report on Thursday, March 13th. Mizuho decreased their price objective on shares of Procore Technologies from $75.00 to $65.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. Stifel Nicolaus cut their target price on shares of Procore Technologies from $93.00 to $75.00 and set a "buy" rating for the company in a research note on Friday. Barclays increased their price target on Procore Technologies from $70.00 to $72.00 and gave the stock an "equal weight" rating in a research report on Friday. Finally, Piper Sandler cut their price objective on Procore Technologies from $110.00 to $75.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Four analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $80.24.

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.

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