Intellectus Partners LLC Makes New $345,000 Investment in Procore Technologies, Inc. (NYSE:PCOR)

Intellectus Partners LLC bought a new stake in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 5,230 shares of the company's stock, valued at approximately $345,000.

Several other institutional investors also recently made changes to their positions in the stock. Parkside Financial Bank & Trust grew its holdings in Procore Technologies by 61.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 387 shares of the company's stock worth $29,000 after buying an additional 147 shares in the last quarter. V Square Quantitative Management LLC grew its holdings in Procore Technologies by 37.8% in the 4th quarter. V Square Quantitative Management LLC now owns 591 shares of the company's stock worth $44,000 after buying an additional 162 shares in the last quarter. Huntington National Bank grew its holdings in Procore Technologies by 161.6% in the 4th 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 boosted its stake 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 valued at $54,000 after purchasing an additional 674 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in Procore Technologies during the 4th quarter valued at $56,000. 81.10% of the stock is owned by institutional investors.

Procore Technologies Stock Down 0.6%

Shares of PCOR traded down $0.41 during mid-day trading on Tuesday, reaching $67.12. The company's stock had a trading volume of 756,072 shares, compared to its average volume of 1,701,959. The business has a fifty day moving average of $64.56 and a 200 day moving average of $72.36. The company has a market cap of $10.01 billion, a price-to-earnings ratio of -93.23 and a beta of 0.90. Procore Technologies, Inc. has a 1 year low of $49.46 and a 1 year high of $88.92. 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 released its earnings results on Thursday, May 1st. The company reported $0.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.17 by $0.06. The company had revenue of $310.63 million during 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 company's revenue for the quarter was up 15.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.30 earnings per share. As a group, analysts forecast that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Barclays increased their price target on Procore Technologies from $70.00 to $72.00 and gave the company an "equal weight" rating in a research note on Friday, May 2nd. JMP Securities increased their price target on Procore Technologies from $90.00 to $95.00 and gave the company a "market outperform" rating in a research note on Tuesday, February 18th. UBS Group decreased their price target on Procore Technologies from $110.00 to $87.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Canaccord Genuity Group increased their price target on Procore Technologies from $83.00 to $97.00 and gave the company a "buy" rating in a research note on Friday, February 14th. Finally, Stifel Nicolaus decreased their price target on Procore Technologies from $93.00 to $75.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Four research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Procore Technologies has an average rating of "Moderate Buy" and an average target price of $80.24.

Insider Transactions at Procore Technologies

In other news, CFO Howard Fu sold 797 shares of the company's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $68.99, for a total value of $54,985.03. Following the transaction, the chief financial officer now directly owns 199,067 shares of the company's stock, valued at approximately $13,733,632.33. This represents a 0.40% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Connor Kevin J. O sold 7,700 shares of the company's stock in a transaction on Wednesday, April 9th. The stock was 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 in the company, valued at $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. Over the last ninety days, insiders have sold 43,981 shares of company stock valued at $2,941,093. 29.00% of the stock is owned by insiders.

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.