Intellectus Partners LLC Acquires Shares of 5,230 Procore Technologies, Inc. (NYSE:PCOR)

Intellectus Partners LLC bought a new position in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 5,230 shares of the company's stock, valued at approximately $345,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. US Bancorp DE grew its stake in Procore Technologies by 18.8% in the 4th quarter. US Bancorp DE now owns 21,416 shares of the company's stock valued at $1,605,000 after purchasing an additional 3,390 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Procore Technologies in the 4th quarter worth about $20,729,000. Barclays PLC boosted its holdings in Procore Technologies by 49.1% in the 3rd quarter. Barclays PLC now owns 69,012 shares of the company's stock worth $4,259,000 after buying an additional 22,734 shares during the period. SBI Securities Co. Ltd. purchased a new position in Procore Technologies in the 4th quarter valued at approximately $56,000. Finally, Brighton Jones LLC bought a new stake in Procore Technologies during the 4th quarter valued at $511,000. Hedge funds and other institutional investors own 81.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. Piper Sandler cut their price target on Procore Technologies from $110.00 to $75.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Macquarie reduced 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. BMO Capital Markets decreased their price target on Procore Technologies from $95.00 to $75.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 23rd. Mizuho cut their price objective on shares of Procore Technologies from $75.00 to $65.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. Finally, UBS Group reduced their price objective on shares of Procore Technologies from $110.00 to $87.00 and set a "buy" rating for the company in a research note on Thursday, April 24th. Four equities research 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 company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $80.24.

Procore Technologies Price Performance

Shares of NYSE:PCOR opened at $67.66 on Friday. Procore Technologies, Inc. has a one year low of $49.46 and a one year high of $88.92. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57. The firm has a market capitalization of $10.09 billion, a price-to-earnings ratio of -93.98 and a beta of 0.90. The company's fifty day moving average price is $64.48 and its 200-day moving average price is $72.46.

Procore Technologies (NYSE:PCOR - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $0.23 EPS for the quarter, beating analysts' consensus estimates of $0.17 by $0.06. Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. The business had revenue of $310.63 million for the quarter, compared to analysts' expectations of $302.66 million. During the same quarter in the prior year, the firm earned $0.30 earnings per share. The firm's revenue was up 15.3% on a year-over-year basis. On average, equities research analysts anticipate that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Connor Kevin J. O sold 5,128 shares of the stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $67.10, for a total transaction of $344,088.80. Following the transaction, the director now owns 1,226,240 shares of the company's stock, valued at approximately $82,280,704. This trade represents a 0.42% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Benjamin C. Singer sold 4,203 shares of the business's stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $68.91, for a total transaction of $289,628.73. Following the completion of the sale, 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 sold 43,981 shares of company stock worth $2,941,093 in the last quarter. 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.

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