20,000 Shares in Procore Technologies, Inc. (NYSE:PCOR) Acquired by Cullinan Associates Inc.

Cullinan Associates Inc. purchased a new position in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 20,000 shares of the company's stock, valued at approximately $1,320,000.

Other hedge funds have also added to or reduced their stakes in the company. Parkside Financial Bank & Trust lifted its holdings in Procore Technologies by 61.3% during the 4th quarter. Parkside Financial Bank & Trust now owns 387 shares of the company's stock worth $29,000 after purchasing an additional 147 shares during the last quarter. Huntington National Bank lifted its holdings in Procore Technologies by 161.6% during the 4th quarter. Huntington National Bank now owns 654 shares of the company's stock worth $49,000 after purchasing an additional 404 shares during the last quarter. Skandinaviska Enskilda Banken AB publ lifted its holdings in 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 during the last quarter. SBI Securities Co. Ltd. acquired a new stake in Procore Technologies during the 4th quarter worth approximately $56,000. Finally, Aster Capital Management DIFC Ltd raised its holdings in Procore Technologies by 181.9% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 843 shares of the company's stock valued at $63,000 after acquiring an additional 544 shares in the last quarter. 81.10% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Procore Technologies

In related news, CFO Howard Fu sold 1,216 shares of the company's stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $61.34, for a total transaction of $74,589.44. Following the sale, the chief financial officer now owns 208,184 shares in the company, valued at $12,770,006.56. This represents a 0.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Connor Kevin J. O sold 7,700 shares of the company's stock in a transaction that occurred on Wednesday, April 9th. The stock was sold at an average price of $56.67, for a total value of $436,359.00. Following the transaction, the director now directly owns 1,208,284 shares in the company, valued at approximately $68,473,454.28. This trade represents a 0.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 659,616 shares of company stock worth $42,781,416 in the last 90 days. Corporate insiders own 29.00% of the company's stock.

Procore Technologies Price Performance

PCOR stock traded down $0.28 during midday trading on Monday, reaching $66.31. 1,432,910 shares of the stock were exchanged, compared to its average volume of 1,683,829. Procore Technologies, Inc. has a 52 week low of $49.46 and a 52 week 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 company has a fifty day moving average price of $65.57 and a 200 day moving average price of $71.38.

Procore Technologies (NYSE:PCOR - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported $0.23 earnings per share 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 6.54% and a negative net margin of 10.73%. Procore Technologies's quarterly revenue was up 15.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.30 EPS. On average, sell-side analysts anticipate that Procore Technologies, Inc. will post -0.15 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on PCOR shares. Scotiabank dropped their price objective on Procore Technologies from $95.00 to $75.00 and set a "sector outperform" rating for the company in a report on Thursday, April 24th. BMO Capital Markets dropped their price objective on Procore Technologies from $95.00 to $75.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. JPMorgan Chase & Co. dropped their price objective on Procore Technologies from $97.00 to $85.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Mizuho dropped their price objective on Procore Technologies from $75.00 to $65.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. Finally, Stifel Nicolaus dropped their price objective on Procore Technologies from $93.00 to $75.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, Procore Technologies presently has an average rating of "Moderate Buy" and a consensus price target 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.