76,740 Shares in Procore Technologies, Inc. (NYSE:PCOR) Acquired by Concentric Capital Strategies LP

Concentric Capital Strategies LP acquired a new position in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 76,740 shares of the company's stock, valued at approximately $5,750,000. Concentric Capital Strategies LP owned 0.05% of Procore Technologies at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Chicago Partners Investment Group LLC raised its stake in shares of Procore Technologies by 0.8% in the 4th quarter. Chicago Partners Investment Group LLC now owns 15,707 shares of the company's stock valued at $1,199,000 after acquiring an additional 129 shares in the last quarter. Parkside Financial Bank & Trust raised its position in shares of Procore Technologies by 61.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 387 shares of the company's stock valued at $29,000 after purchasing an additional 147 shares during the period. V Square Quantitative Management LLC lifted 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 buying an additional 162 shares during the last quarter. Versant Capital Management Inc boosted its holdings in shares of Procore Technologies by 92.1% during the 4th quarter. Versant Capital Management Inc now owns 365 shares of the company's stock worth $27,000 after buying an additional 175 shares during the period. Finally, Covestor Ltd grew its stake in Procore Technologies by 15.1% in the 4th quarter. Covestor Ltd now owns 1,571 shares of the company's stock valued at $118,000 after buying an additional 206 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Procore Technologies Price Performance

PCOR stock traded down $0.78 during trading on Friday, hitting $65.62. The company had a trading volume of 1,051,932 shares, compared to its average volume of 1,714,015. The company has a fifty day moving average price of $64.84 and a two-hundred day moving average price of $72.29. Procore Technologies, Inc. has a fifty-two week low of $49.46 and a fifty-two week high of $88.92. The company has a market cap of $9.79 billion, a P/E ratio of -91.14 and a beta of 0.90. 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 earnings results on Thursday, May 1st. The company reported $0.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.17 by $0.06. The business had revenue of $310.63 million during the quarter, compared to analysts' expectations of $302.66 million. Procore Technologies had a negative net margin of 9.20% and a negative return on equity of 5.10%. The firm's revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter last year, the company posted $0.30 EPS. Equities research analysts expect that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PCOR shares. Macquarie decreased their price target on shares of Procore Technologies from $93.00 to $75.00 and set a "neutral" rating for the company in a report on Thursday, March 13th. DA Davidson lowered their target price on Procore Technologies from $80.00 to $60.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. UBS Group cut their price target 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 lowered their price objective 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. Finally, Scotiabank cut their target price on shares of 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 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's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $80.24.

Insider Activity at Procore Technologies

In other news, CRO Lawrence Joseph Stack sold 12,000 shares of the company's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $82.92, for a total transaction of $995,040.00. Following the transaction, the executive now directly owns 161,368 shares in the company, valued at approximately $13,380,634.56. This represents a 6.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Iconiq Strategic Partners Ii, sold 1,074 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $87.40, for a total transaction of $93,867.60. Following the completion of the sale, the insider now directly owns 200 shares of the company's stock, valued at approximately $17,480. This represents a 84.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 54,142 shares of company stock valued at $4,053,807 in the last three months. Corporate insiders own 29.00% of the company's stock.

Procore Technologies 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.