Lecap Asset Management Ltd. Invests $418,000 in Procore Technologies, Inc. (NYSE:PCOR)

Lecap Asset Management Ltd. bought a new stake in Procore Technologies, Inc. (NYSE:PCOR - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm bought 6,337 shares of the company's stock, valued at approximately $418,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Parkside Financial Bank & Trust boosted its holdings in Procore Technologies by 61.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 387 shares of the company's stock valued at $29,000 after acquiring an additional 147 shares during the period. Huntington National Bank lifted its position in shares of 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 position in shares of 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. bought a new stake in Procore Technologies during the 4th quarter valued at approximately $56,000. Finally, Aster Capital Management DIFC Ltd grew 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 buying an additional 544 shares during the last quarter. 81.10% of the stock is currently owned by institutional investors and hedge funds.

Procore Technologies Stock Up 0.6%

NYSE PCOR opened at $67.90 on Friday. Procore Technologies, Inc. has a 1-year low of $49.46 and a 1-year high of $88.92. The company has a market capitalization of $10.13 billion, a price-to-earnings ratio of -78.96 and a beta of 0.90. The stock's 50 day moving average is $66.18 and its two-hundred day moving average is $71.12. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.02.

Procore Technologies (NYSE:PCOR - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.17 by $0.06. Procore Technologies had a negative return on equity of 6.54% and a negative net margin of 10.73%. The business had revenue of $310.63 million during the quarter, compared to the consensus estimate of $302.66 million. During the same quarter last year, the company earned $0.30 EPS. Procore Technologies's revenue was up 15.3% on a year-over-year basis. Equities analysts forecast that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

PCOR has been the subject of a number of research analyst reports. 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 dropped their target price on shares of Procore Technologies from $93.00 to $75.00 and set a "neutral" rating on the stock in a research report on Thursday, March 13th. Jefferies Financial Group reduced their price target on shares of Procore Technologies from $100.00 to $90.00 and set a "buy" rating for the company in a report on Monday, March 31st. DA Davidson upgraded shares of Procore Technologies to a "hold" rating in a research report on Tuesday, May 13th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Procore Technologies from $97.00 to $85.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. Four 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 company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $80.83.

Insider Buying and Selling

In related news, Director William J.G. Griffith sold 309,168 shares of the stock in a transaction that occurred on Friday, June 13th. The stock was sold at an average price of $64.76, for a total transaction of $20,021,719.68. Following the sale, the director now directly owns 1,893,458 shares in the company, valued at $122,620,340.08. This represents a 14.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Connor Kevin J. O sold 7,700 shares of the firm's stock in a transaction 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 sale, the director now directly owns 1,208,284 shares of the company's stock, valued at $68,473,454.28. This represents a 0.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 660,412 shares of company stock worth $42,834,653 in the last quarter. 29.00% of the stock is owned by corporate insiders.

Procore Technologies 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.