Cache Advisors LLC Invests $2.91 Million in Procore Technologies, Inc. (NYSE:PCOR)

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

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Procore Technologies by 7.6% in the fourth quarter. Vanguard Group Inc. now owns 11,900,337 shares of the company's stock valued at $891,692,000 after acquiring an additional 838,925 shares during the period. Capital World Investors increased its stake in Procore Technologies by 453.6% in the fourth quarter. Capital World Investors now owns 3,118,962 shares of the company's stock valued at $233,704,000 after acquiring an additional 2,555,612 shares during the period. Principal Financial Group Inc. grew its stake in Procore Technologies by 29,376.1% during the fourth quarter. Principal Financial Group Inc. now owns 2,679,964 shares of the company's stock worth $200,810,000 after buying an additional 2,670,872 shares during the last quarter. Janus Henderson Group PLC grew its stake in Procore Technologies by 14.0% during the fourth quarter. Janus Henderson Group PLC now owns 2,627,408 shares of the company's stock worth $196,873,000 after buying an additional 322,367 shares during the last quarter. Finally, FIL Ltd grew its stake in Procore Technologies by 4.0% during the fourth quarter. FIL Ltd now owns 2,171,975 shares of the company's stock worth $162,746,000 after buying an additional 84,216 shares during the last quarter. Institutional investors own 81.10% of the company's stock.

Procore Technologies Trading Up 1.2%

NYSE PCOR traded up $0.83 during trading hours on Tuesday, hitting $68.11. The company's stock had a trading volume of 879,569 shares, compared to its average volume of 1,715,340. The stock has a fifty day moving average of $64.86 and a 200 day moving average of $72.70. Procore Technologies, Inc. has a twelve month low of $49.46 and a twelve month high of $88.92. The firm has a market capitalization of $10.16 billion, a P/E ratio of -94.59 and a beta of 0.90. 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, 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 business had revenue of $310.63 million for the quarter, compared to analyst estimates of $302.66 million. During the same period in the prior year, the business posted $0.30 earnings per share. Procore Technologies's revenue was up 15.3% compared to the same quarter last year. Equities research analysts forecast that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on PCOR. Stifel Nicolaus decreased their price objective on shares of Procore Technologies from $93.00 to $75.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. 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 note on Thursday, April 24th. Macquarie decreased their price objective on shares of Procore Technologies from $93.00 to $75.00 and set a "neutral" rating on the stock in a research note on Thursday, March 13th. Mizuho decreased their price objective on shares of Procore Technologies from $75.00 to $65.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. Finally, DA Davidson raised shares of Procore Technologies to a "hold" rating in a research note on Tuesday, May 13th. Four investment analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $80.24.

Insider Activity at Procore Technologies

In other Procore Technologies news, CFO Howard Fu sold 1,190 shares of the stock in a transaction on Friday, March 14th. The shares were sold at an average price of $67.00, for a total value of $79,730.00. Following the sale, the chief financial officer now directly owns 146,160 shares in the company, valued at approximately $9,792,720. This trade represents a 0.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CRO Lawrence Joseph Stack sold 1,000 shares of the stock in a transaction on Friday, May 9th. The stock was sold at an average price of $65.60, for a total transaction of $65,600.00. Following the completion of the sale, the executive now owns 217,868 shares in the company, valued at approximately $14,292,140.80. This trade represents a 0.46% 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 over the last ninety days. Company insiders own 29.00% of the company's stock.

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.