3,622 Shares in Procore Technologies, Inc. (NYSE:PCOR) Acquired by Interchange Capital Partners LLC

Interchange Capital Partners LLC 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 3,622 shares of the company's stock, valued at approximately $239,000.

Several other institutional investors have also added to or reduced their stakes in PCOR. Principal Financial Group Inc. grew its stake in shares of Procore Technologies by 3.1% in the first quarter. Principal Financial Group Inc. now owns 2,762,275 shares of the company's stock valued at $182,365,000 after acquiring an additional 82,311 shares in the last quarter. Teacher Retirement System of Texas grew its stake in shares of Procore Technologies by 89.5% in the first quarter. Teacher Retirement System of Texas now owns 19,957 shares of the company's stock valued at $1,318,000 after acquiring an additional 9,428 shares in the last quarter. Peregrine Capital Management LLC grew its stake in shares of Procore Technologies by 1.9% in the first quarter. Peregrine Capital Management LLC now owns 545,683 shares of the company's stock valued at $36,026,000 after acquiring an additional 9,984 shares in the last quarter. Amalgamated Bank grew its stake in shares of Procore Technologies by 4.2% in the first quarter. Amalgamated Bank now owns 7,374 shares of the company's stock valued at $487,000 after acquiring an additional 295 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. acquired a new position in shares of Procore Technologies in the first quarter valued at about $237,000. 81.10% of the stock is currently owned by institutional investors.

Insider Activity at Procore Technologies

In other Procore Technologies news, insider Benjamin C. Singer sold 4,203 shares of the firm's stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $68.91, for a total value of $289,628.73. Following the transaction, the insider directly owned 102,057 shares of the company's stock, valued at approximately $7,032,747.87. This trade represents a 3.96% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Iconiq Strategic Partners Iv, sold 192,803 shares of the company's stock in a transaction dated 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 owned 3,137,255 shares in the company, valued at $203,168,633.80. This represents a 5.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold 660,412 shares of company stock valued at $42,834,653 over the last three months. 29.00% of the stock is currently owned by company insiders.

Procore Technologies Stock Up 1.1%

Shares of Procore Technologies stock traded up $0.77 during trading on Tuesday, reaching $72.29. 928,618 shares of the company traded hands, compared to its average volume of 1,661,319. The firm has a market capitalization of $10.78 billion, a PE ratio of -84.06 and a beta of 0.89. Procore Technologies, Inc. has a 1-year low of $49.46 and a 1-year high of $88.92. The company has a 50 day moving average price of $67.59 and a 200-day moving average price of $70.62. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.19 and a quick ratio of 1.19.

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 10.73% and a negative return on equity of 6.54%. The firm had revenue of $310.63 million for the quarter, compared to analyst estimates of $302.66 million. During the same quarter in the prior year, the business earned $0.30 earnings per share. The business's quarterly revenue was up 15.3% compared to the same quarter last year. As a group, equities research analysts expect that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Macquarie cut their price objective on shares of Procore Technologies from $93.00 to $75.00 and set a "neutral" rating for the company in a research report on Thursday, March 13th. JPMorgan Chase & Co. reduced their price target on shares of Procore Technologies from $97.00 to $85.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. Barclays boosted their price objective on shares of Procore Technologies from $70.00 to $72.00 and gave the company an "equal weight" rating in a research report on Friday, May 2nd. DA Davidson raised Procore Technologies to a "hold" rating in a report on Tuesday, May 13th. Finally, Jefferies Financial Group decreased their price target on Procore Technologies from $100.00 to $90.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Four investment analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, Procore Technologies has a consensus rating of "Moderate Buy" and an average 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.