Dnca Finance Sells 35,000 Shares of Procore Technologies, Inc. (NYSE:PCOR)

Dnca Finance trimmed its position in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 46.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 40,200 shares of the company's stock after selling 35,000 shares during the quarter. Dnca Finance's holdings in Procore Technologies were worth $3,012,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the business. Barclays PLC lifted its stake in shares of Procore Technologies by 49.1% in the 3rd quarter. Barclays PLC now owns 69,012 shares of the company's stock valued at $4,259,000 after purchasing an additional 22,734 shares during the period. M&T Bank Corp acquired a new position in Procore Technologies in the third quarter valued at approximately $250,000. Sanctuary Advisors LLC bought a new position in shares of Procore Technologies during the 3rd quarter worth approximately $227,000. Tidal Investments LLC boosted its holdings in shares of Procore Technologies by 237.8% during the 3rd quarter. Tidal Investments LLC now owns 17,538 shares of the company's stock worth $1,082,000 after buying an additional 12,346 shares in the last quarter. Finally, Synovus Financial Corp grew its position in shares of Procore Technologies by 24.3% during the 3rd quarter. Synovus Financial Corp now owns 6,465 shares of the company's stock worth $399,000 after buying an additional 1,262 shares during the period. Institutional investors own 81.10% of the company's stock.

Wall Street Analysts Forecast Growth

PCOR has been the subject of a number of research reports. Jefferies Financial Group reduced their price target on shares of Procore Technologies from $100.00 to $90.00 and set a "buy" rating for the company in a report on Monday, March 31st. Canaccord Genuity Group lifted their price target on shares of Procore Technologies from $83.00 to $97.00 and gave the company a "buy" rating in a research report on Friday, February 14th. JMP Securities raised their price objective on shares of Procore Technologies from $90.00 to $95.00 and gave the company a "market outperform" rating in a research note on Tuesday, February 18th. JPMorgan Chase & Co. lowered their target price on shares of Procore Technologies from $97.00 to $85.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. Finally, BMO Capital Markets cut their target price on Procore Technologies from $95.00 to $75.00 and set an "outperform" rating on the stock in a research report on Wednesday. Four equities research 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's stock. According to data from MarketBeat, Procore Technologies currently has an average rating of "Moderate Buy" and a consensus target price of $81.18.

Procore Technologies Stock Performance

Shares of PCOR stock traded up $2.93 during trading on Thursday, reaching $63.21. 649,016 shares of the company's stock traded hands, compared to its average volume of 1,730,764. Procore Technologies, Inc. has a 1 year low of $49.46 and a 1 year high of $88.92. The company has a market capitalization of $9.48 billion, a P/E ratio of -87.79 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. The firm's 50-day moving average is $68.73 and its 200 day moving average is $72.09.

Procore Technologies (NYSE:PCOR - Get Free Report) last issued its earnings results on Thursday, February 13th. The company reported ($0.35) EPS for the quarter, missing the consensus estimate of $0.11 by ($0.46). The company had revenue of $302.05 million during the quarter, compared to the consensus estimate of $297.72 million. Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. Equities research analysts expect that Procore Technologies, Inc. will post -0.15 EPS for the current year.

Insider Activity

In related news, CFO Howard Fu sold 8,000 shares of the stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $87.00, for a total transaction of $696,000.00. Following the sale, the chief financial officer now directly owns 156,188 shares of the company's stock, valued at approximately $13,588,356. This represents a 4.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Connor Kevin J. O sold 6,410 shares of the business's stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $77.33, for a total value of $495,685.30. Following the completion of the transaction, the director now directly owns 1,244,188 shares of the company's stock, valued at approximately $96,213,058.04. This trade 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 65,482 shares of company stock worth $4,952,759. 29.00% of the stock is currently owned by insiders.

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.