Dimensional Fund Advisors LP Boosts Holdings in Procore Technologies, Inc. (NYSE:PCOR)

Dimensional Fund Advisors LP raised its stake in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 20.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 729,268 shares of the company's stock after buying an additional 124,449 shares during the quarter. Dimensional Fund Advisors LP owned about 0.49% of Procore Technologies worth $54,647,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Diversified Trust Co increased its holdings in Procore Technologies by 157.1% in the 4th quarter. Diversified Trust Co now owns 50,649 shares of the company's stock valued at $3,795,000 after acquiring an additional 30,948 shares during the last quarter. US Bancorp DE increased its holdings in shares of Procore Technologies by 18.8% in the fourth quarter. US Bancorp DE now owns 21,416 shares of the company's stock worth $1,605,000 after purchasing an additional 3,390 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Procore Technologies in the fourth quarter worth about $20,729,000. Barclays PLC boosted its stake in Procore Technologies by 49.1% during 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 last quarter. Finally, SBI Securities Co. Ltd. purchased a new position in Procore Technologies during the 4th quarter valued at approximately $56,000. Institutional investors own 81.10% of the company's stock.

Insider Buying and Selling

In other Procore Technologies news, 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 value of $93,867.60. Following the completion of the sale, the insider now directly owns 200 shares in the company, valued at $17,480. This trade represents a 84.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CRO Lawrence Joseph Stack sold 12,000 shares of the company's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $82.92, for a total value 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. The trade was a 6.92 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 66,962 shares of company stock worth $5,041,588 in the last three months. 29.00% of the stock is owned by insiders.

Analysts Set New Price Targets

PCOR has been the subject of a number of research reports. Barclays increased their target price on Procore Technologies from $70.00 to $72.00 and gave the company an "equal weight" rating in a research report on Friday. KeyCorp dropped their price objective on shares of Procore Technologies from $96.00 to $77.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. Macquarie decreased their target price on shares of Procore Technologies from $93.00 to $75.00 and set a "neutral" rating on the stock in a research report on Thursday, March 13th. Scotiabank dropped their price target on Procore Technologies from $95.00 to $75.00 and set a "sector outperform" rating for the company in a research report on Thursday, April 24th. Finally, Piper Sandler decreased their price objective on Procore Technologies from $110.00 to $75.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Four equities research 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 stock has an average rating of "Moderate Buy" and an average price target of $80.24.

Procore Technologies Trading Up 2.8 %

NYSE PCOR opened at $64.95 on Friday. Procore Technologies, Inc. has a one year low of $49.46 and a one year high of $88.92. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57. The company has a market capitalization of $9.69 billion, a price-to-earnings ratio of -90.21 and a beta of 0.90. The company's 50-day simple moving average is $65.91 and its two-hundred day simple moving average is $72.22.

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 (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.06. The company had revenue of $310.63 million for the quarter, compared to analyst estimates of $302.66 million. Procore Technologies had a negative net margin of 9.20% and a negative return on equity of 5.10%. Procore Technologies's revenue was up 15.3% compared to the same quarter last year. During the same period last year, the company posted $0.30 earnings per share. Equities analysts forecast that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.

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.

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