3,788 Shares in Procore Technologies, Inc. (NYSE:PCOR) Bought by JT Stratford LLC

JT Stratford LLC purchased a new position in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,788 shares of the company's stock, valued at approximately $284,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of PCOR. Principal Financial Group Inc. lifted its holdings in shares of Procore Technologies by 29,376.1% during the 4th 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 period. Capital World Investors lifted its stake in Procore Technologies by 453.6% during the fourth quarter. Capital World Investors now owns 3,118,962 shares of the company's stock worth $233,704,000 after purchasing an additional 2,555,612 shares during the period. Wellington Management Group LLP bought a new position in Procore Technologies during the fourth quarter worth about $131,840,000. Champlain Investment Partners LLC acquired a new stake in Procore Technologies during the fourth quarter valued at approximately $105,747,000. Finally, Alliancebernstein L.P. boosted its holdings in Procore Technologies by 474.3% during the fourth quarter. Alliancebernstein L.P. now owns 1,409,499 shares of the company's stock valued at $105,614,000 after purchasing an additional 1,164,074 shares in the last quarter. Institutional investors own 81.10% of the company's stock.

Wall Street Analysts Forecast Growth

PCOR has been the subject of several analyst reports. Stifel Nicolaus cut their target price on Procore Technologies from $93.00 to $75.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. Mizuho cut their price objective on Procore Technologies from $75.00 to $65.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. Canaccord Genuity Group upped their target price on shares of Procore Technologies from $83.00 to $97.00 and gave the stock a "buy" rating in a report on Friday, February 14th. Scotiabank dropped 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 report on Thursday, April 24th. Finally, JMP Securities boosted their price target on shares of Procore Technologies from $90.00 to $95.00 and gave the company a "market outperform" rating in a research report on Tuesday, February 18th. Four investment 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. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $80.24.

Procore Technologies Trading Up 0.5%

Shares of PCOR opened at $67.61 on Friday. The stock's fifty day simple moving average is $64.93 and its 200-day simple moving average is $72.70. The firm has a market capitalization of $10.09 billion, a PE ratio of -93.91 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.

Procore Technologies (NYSE:PCOR - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.06. The firm had revenue of $310.63 million during the quarter, compared to analysts' expectations of $302.66 million. Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. The company's quarterly revenue was up 15.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.30 EPS. As a group, research analysts predict that Procore Technologies, Inc. will post -0.15 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Benjamin C. Singer sold 4,203 shares of Procore Technologies stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $68.91, for a total transaction of $289,628.73. Following the completion of the sale, the insider now directly owns 102,057 shares of the company's stock, valued at $7,032,747.87. The trade was a 3.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Howard Fu sold 2,642 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $77.05, for a total value of $203,566.10. Following the completion of the sale, the chief financial officer now owns 147,350 shares of the company's stock, valued at $11,353,317.50. This represents a 1.76% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 46,623 shares of company stock valued at $3,144,659. Company insiders own 29.00% of the company's stock.

About Procore Technologies

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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