Conestoga Capital Advisors LLC Has $14.72 Million Holdings in Procore Technologies, Inc. (NYSE:PCOR)

Conestoga Capital Advisors LLC increased its position in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 7.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 222,962 shares of the company's stock after acquiring an additional 15,510 shares during the period. Conestoga Capital Advisors LLC owned approximately 0.15% of Procore Technologies worth $14,720,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PCOR. Parkside Financial Bank & Trust boosted 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 purchasing an additional 147 shares in the last quarter. V Square Quantitative Management LLC lifted its stake in Procore Technologies by 37.8% during the fourth quarter. V Square Quantitative Management LLC now owns 591 shares of the company's stock valued at $44,000 after purchasing an additional 162 shares during the last quarter. Huntington National Bank boosted its holdings in Procore Technologies by 161.6% during the fourth quarter. Huntington National Bank now owns 654 shares of the company's stock worth $49,000 after buying an additional 404 shares in the last quarter. Skandinaviska Enskilda Banken AB publ grew its position in Procore Technologies by 1,434.0% in the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 721 shares of the company's stock worth $54,000 after buying an additional 674 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in Procore Technologies in the fourth quarter worth approximately $56,000. 81.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the company. Macquarie cut their price objective on Procore Technologies from $93.00 to $75.00 and set a "neutral" rating for the company in a research report on Thursday, March 13th. Barclays boosted their target price on Procore Technologies from $70.00 to $72.00 and gave the stock an "equal weight" rating in a research report on Friday, May 2nd. Jefferies Financial Group decreased their price target on Procore Technologies from $100.00 to $90.00 and set a "buy" rating for the company in a research report on Monday, March 31st. KeyCorp dropped their price target on Procore Technologies from $96.00 to $77.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Finally, Piper Sandler cut their price objective on Procore Technologies from $110.00 to $75.00 and set an "overweight" rating on the stock in a report on Wednesday, April 23rd. Four equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Procore Technologies currently has a consensus rating of "Moderate Buy" and a consensus target price of $80.83.

Procore Technologies Stock Up 0.3%

Shares of PCOR stock traded up $0.20 during trading on Friday, hitting $66.54. 1,681,025 shares of the company were exchanged, compared to its average volume of 1,344,345. The business's 50-day simple moving average is $65.45 and its 200 day simple moving average is $71.68. The firm has a market capitalization of $9.93 billion, a price-to-earnings ratio of -77.37 and a beta of 0.90. Procore Technologies, Inc. has a twelve month low of $49.46 and a twelve month high of $88.92. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.19 and a current ratio of 1.19.

Procore Technologies (NYSE:PCOR - Get Free Report) last issued its earnings results 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 company 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 6.54% and a negative net margin of 10.73%. The business's revenue was up 15.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.30 EPS. As a group, analysts forecast that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, Director Connor Kevin J. O sold 7,700 shares of Procore Technologies stock in a transaction that occurred on Wednesday, April 9th. The shares were sold at an average price of $56.67, for a total value of $436,359.00. Following the transaction, the director now 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Iconiq Strategic Partners Iv, sold 192,803 shares of the business's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $64.76, for a total transaction of $12,485,922.28. Following the completion of the sale, the insider now owns 3,137,255 shares of the company's stock, valued at $203,168,633.80. The trade was a 5.79% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 651,924 shares of company stock valued at $42,278,821 over the last ninety days. Corporate 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.