Dimensional Fund Advisors LP Purchases 124,449 Shares of Procore Technologies, Inc. (NYSE:PCOR)

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

A number of other hedge funds also recently bought and sold shares of PCOR. Principal Financial Group Inc. raised its stake in shares of Procore Technologies by 29,376.1% in the fourth quarter. Principal Financial Group Inc. now owns 2,679,964 shares of the company's stock worth $200,810,000 after acquiring an additional 2,670,872 shares during the last quarter. Wellington Management Group LLP bought a new position in Procore Technologies in the fourth quarter valued at about $131,840,000. Assenagon Asset Management S.A. raised its holdings in Procore Technologies by 99.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,861,024 shares of the company's stock worth $214,377,000 after purchasing an additional 1,425,967 shares during the last quarter. Champlain Investment Partners LLC bought a new stake in Procore Technologies during the 4th quarter worth about $105,747,000. Finally, Alliancebernstein L.P. grew its position in shares of Procore Technologies by 474.3% during the 4th quarter. Alliancebernstein L.P. now owns 1,409,499 shares of the company's stock worth $105,614,000 after buying an additional 1,164,074 shares during the period. 81.10% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on PCOR shares. Scotiabank reduced their price objective on shares of Procore Technologies from $95.00 to $75.00 and set a "sector outperform" rating on the stock in a research note on Thursday, April 24th. Canaccord Genuity Group lifted their price objective on Procore Technologies from $83.00 to $97.00 and gave the stock a "buy" rating in a research note on Friday, February 14th. Barclays upped their price target on Procore Technologies from $70.00 to $72.00 and gave the company an "equal weight" rating in a research note on Friday, May 2nd. Mizuho dropped their target price on shares of Procore Technologies from $75.00 to $65.00 and set a "neutral" rating on the stock in a report on Tuesday, April 15th. Finally, UBS Group reduced their price objective on Procore Technologies from $110.00 to $87.00 and set a "buy" rating for the company in a research report on Thursday, April 24th. Four equities research analysts have rated the stock with a hold rating, thirteen have given 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.

Insiders Place Their Bets

In other Procore Technologies news, Director Connor Kevin J. O sold 6,410 shares of the business's stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $76.77, for a total value of $492,095.70. Following the completion of the sale, the director now owns 1,231,368 shares of the company's stock, valued at $94,532,121.36. The trade was a 0.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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 stock was sold at an average price of $87.40, for a total transaction of $93,867.60. Following the transaction, the insider now directly owns 200 shares in the company, valued at $17,480. This represents a 84.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 60,552 shares of company stock worth $4,545,903 over the last three months. Insiders own 29.00% of the company's stock.

Procore Technologies Stock Performance

Shares of PCOR stock traded up $1.05 during trading on Thursday, reaching $65.52. 124,610 shares of the company's stock were exchanged, compared to its average volume of 1,709,245. Procore Technologies, Inc. has a twelve month low of $49.46 and a twelve month high of $88.92. The firm's fifty day moving average price is $65.17 and its 200-day moving average price is $72.25. 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 stock has a market capitalization of $9.77 billion, a PE ratio of -91.00 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 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%. The company's revenue was up 15.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.30 earnings per share. As a group, sell-side analysts anticipate that Procore Technologies, Inc. will post -0.15 EPS for the current 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.