38,825 Shares in Procore Technologies, Inc. (NYSE:PCOR) Acquired by Cache Advisors LLC

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

Several other institutional investors have also recently bought and sold shares of the stock. Chicago Partners Investment Group LLC raised its position in Procore Technologies by 0.8% in the 4th quarter. Chicago Partners Investment Group LLC now owns 15,707 shares of the company's stock worth $1,199,000 after purchasing an additional 129 shares during the last quarter. Parkside Financial Bank & Trust raised its position in shares of Procore Technologies by 61.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 387 shares of the company's stock valued at $29,000 after acquiring an additional 147 shares during the last quarter. V Square Quantitative Management LLC raised its position in shares of Procore Technologies by 37.8% during the 4th quarter. V Square Quantitative Management LLC now owns 591 shares of the company's stock valued at $44,000 after acquiring an additional 162 shares during the last quarter. Covestor Ltd raised its position in shares of Procore Technologies by 15.1% during the 4th quarter. Covestor Ltd now owns 1,571 shares of the company's stock valued at $118,000 after acquiring an additional 206 shares during the last quarter. Finally, Two Sigma Investments LP raised its position in shares of Procore Technologies by 5.3% during the 4th quarter. Two Sigma Investments LP now owns 4,181 shares of the company's stock valued at $313,000 after acquiring an additional 210 shares during the last quarter. Institutional investors own 81.10% of the company's stock.

Insider Buying and Selling

In other news, 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 transaction, the director now directly owns 1,208,284 shares of the company's stock, valued at $68,473,454.28. This represents a 0.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Benjamin C. Singer sold 4,203 shares of the stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $68.91, for a total transaction of $289,628.73. Following the transaction, the insider now directly owns 102,057 shares of the company's stock, 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. Insiders have sold 46,623 shares of company stock worth $3,144,659 in the last quarter. Insiders own 29.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on PCOR. KeyCorp dropped their target price on shares of Procore Technologies from $96.00 to $77.00 and set an "overweight" rating for the company in a research report on Monday, April 21st. Barclays increased their target price on Procore Technologies from $70.00 to $72.00 and gave the stock an "equal weight" rating in a report on Friday, May 2nd. Macquarie lowered their target price on Procore Technologies from $93.00 to $75.00 and set a "neutral" rating for the company in a report on Thursday, March 13th. Canaccord Genuity Group raised their price objective on Procore Technologies from $83.00 to $97.00 and gave the company a "buy" rating in a report on Friday, February 14th. Finally, Piper Sandler cut their target price on shares of Procore Technologies from $110.00 to $75.00 and set an "overweight" rating for the company in a research note on Wednesday, April 23rd. Four investment analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, Procore Technologies currently has a consensus rating of "Moderate Buy" and an average price target of $80.24.

Procore Technologies Trading Down 0.0%

Shares of Procore Technologies stock traded down $0.02 during trading on Thursday, hitting $67.27. The company's stock had a trading volume of 188,534 shares, compared to its average volume of 1,707,864. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57. Procore Technologies, Inc. has a 52 week low of $49.46 and a 52 week high of $88.92. The stock has a market cap of $10.03 billion, a price-to-earnings ratio of -93.76 and a beta of 0.90. The stock has a 50-day moving average price of $64.77 and a two-hundred day moving average price of $72.63.

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, beating the consensus estimate of $0.17 by $0.06. Procore Technologies had a negative net margin of 9.20% and a negative return on equity of 5.10%. The firm had revenue of $310.63 million for the quarter, compared to analyst estimates of $302.66 million. During the same quarter in the prior year, the business earned $0.30 earnings per share. The business's quarterly revenue was up 15.3% compared to the same quarter last year. Equities research analysts anticipate that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.

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.