Cache Advisors LLC Purchases New Holdings in Procore Technologies, Inc. (NYSE:PCOR)

Cache Advisors LLC acquired a new position in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 38,825 shares of the company's stock, valued at approximately $2,909,000. Procore Technologies makes up approximately 1.1% of Cache Advisors LLC's portfolio, making the stock its 20th biggest holding.

Several other large investors have also modified their holdings of the stock. JT Stratford LLC acquired a new stake in Procore Technologies during the fourth quarter valued at $284,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Procore Technologies by 15.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 298,239 shares of the company's stock worth $22,347,000 after purchasing an additional 39,935 shares during the last quarter. Voloridge Investment Management LLC acquired a new position in Procore Technologies in the 4th quarter worth about $14,855,000. Woodline Partners LP increased its position in Procore Technologies by 45.8% in the 4th quarter. Woodline Partners LP now owns 691,980 shares of the company's stock worth $51,850,000 after purchasing an additional 217,351 shares during the last quarter. Finally, Spyglass Capital Management LLC increased its position in Procore Technologies by 12.0% in the 4th quarter. Spyglass Capital Management LLC now owns 1,048,154 shares of the company's stock worth $78,538,000 after purchasing an additional 112,258 shares during the last quarter. 81.10% of the stock is owned by institutional investors.

Insider Transactions at Procore Technologies

In related news, CFO Howard Fu sold 797 shares of the business's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $68.99, for a total transaction of $54,985.03. Following the transaction, the chief financial officer now directly owns 199,067 shares in the company, valued at $13,733,632.33. The trade was a 0.40% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Benjamin C. Singer sold 4,203 shares of the business's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $68.91, for a total value of $289,628.73. Following the transaction, the insider now owns 102,057 shares in the company, valued at $7,032,747.87. This represents a 3.96% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 46,623 shares of company stock worth $3,144,659. Company insiders own 29.00% of the company's stock.

Procore Technologies Stock Performance

Shares of Procore Technologies stock traded down $0.98 during trading on Wednesday, reaching $67.20. The company's stock had a trading volume of 831,191 shares, compared to its average volume of 1,711,817. 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 business's fifty day moving average price is $64.83 and its 200-day moving average price is $72.67. The firm has a market cap of $10.02 billion, a price-to-earnings ratio of -93.33 and a beta of 0.90. Procore Technologies, Inc. has a one year low of $49.46 and a one year high of $88.92.

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

Analyst Ratings Changes

Several research analysts have weighed in on the company. Scotiabank dropped their target price on Procore Technologies from $95.00 to $75.00 and set a "sector outperform" rating on the stock in a research report on Thursday, April 24th. JMP Securities upped their target price on Procore Technologies from $90.00 to $95.00 and gave the stock a "market outperform" rating in a research report on Tuesday, February 18th. UBS Group dropped their target price on Procore Technologies from $110.00 to $87.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. Macquarie lowered 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. Finally, JPMorgan Chase & Co. reduced their price target on Procore Technologies from $97.00 to $85.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Procore Technologies presently has an average rating of "Moderate Buy" and an average price target of $80.24.

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.