Procore Technologies, Inc. (NYSE:PCOR) Shares Purchased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its holdings in Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 134.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,151,867 shares of the company's stock after purchasing an additional 660,726 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.77% of Procore Technologies worth $77,901,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Parkside Financial Bank & Trust lifted its stake in shares of Procore Technologies by 61.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 387 shares of the company's stock worth $29,000 after acquiring an additional 147 shares during the period. Huntington National Bank raised its position in Procore Technologies by 161.6% in the fourth quarter. Huntington National Bank now owns 654 shares of the company's stock worth $49,000 after acquiring an additional 404 shares in the last quarter. Skandinaviska Enskilda Banken AB publ boosted its position in shares of Procore Technologies by 1,434.0% during the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 721 shares of the company's stock worth $54,000 after purchasing an additional 674 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of Procore Technologies during the 4th quarter worth $56,000. Finally, Aster Capital Management DIFC Ltd grew its stake in shares of Procore Technologies by 181.9% during the 4th quarter. Aster Capital Management DIFC Ltd now owns 843 shares of the company's stock worth $63,000 after purchasing an additional 544 shares during the period. 81.10% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Procore Technologies news, CFO Howard Fu sold 796 shares of the company's stock in a transaction that occurred on Friday, June 20th. The stock was sold at an average price of $66.88, for a total value of $53,236.48. Following the completion of the transaction, the chief financial officer now owns 198,271 shares in the company, valued at $13,260,364.48. This represents a 0.40% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Connor Kevin J. O sold 7,700 shares of the stock in a transaction that occurred on Wednesday, April 9th. The shares were sold at an average price of $56.67, for a total transaction of $436,359.00. Following the completion of the sale, the director now directly owns 1,208,284 shares of the company's stock, valued at $68,473,454.28. This trade represents a 0.63% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 660,412 shares of company stock valued at $42,834,653. Company insiders own 29.00% of the company's stock.

Procore Technologies Trading Up 0.7%

Shares of Procore Technologies stock traded up $0.46 during trading hours on Monday, reaching $68.32. The stock had a trading volume of 53,963 shares, compared to its average volume of 1,325,351. The firm has a market capitalization of $10.19 billion, a price-to-earnings ratio of -79.45 and a beta of 0.90. Procore Technologies, Inc. has a 1 year low of $49.46 and a 1 year high of $88.92. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.02. The firm has a 50 day simple moving average of $66.37 and a two-hundred day simple moving average of $70.89.

Procore Technologies (NYSE:PCOR - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.23 EPS for the quarter, beating the consensus estimate of $0.17 by $0.06. The firm 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 10.73% and a negative return on equity of 6.54%. Procore Technologies's revenue for the quarter was up 15.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.30 earnings per share. As a group, equities research analysts anticipate that Procore Technologies, Inc. will post -0.15 earnings per share for the current year.

Wall Street Analyst Weigh In

PCOR has been the topic of several recent analyst reports. DA Davidson upgraded shares of Procore Technologies to a "hold" rating in a research report on Tuesday, May 13th. Jefferies Financial Group reduced their price objective on Procore Technologies from $100.00 to $90.00 and set a "buy" rating for the company in a report on Monday, March 31st. UBS Group decreased their price objective on shares of Procore Technologies from $110.00 to $87.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Stifel Nicolaus reduced their price target on shares of Procore Technologies from $93.00 to $75.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Finally, Macquarie dropped their price objective on shares of Procore Technologies from $93.00 to $75.00 and set a "neutral" rating for the company in a research note on Thursday, March 13th. Four analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $80.83.

Procore Technologies Company 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.