Point72 Asset Management L.P. Acquires 6,587 Shares of Procore Technologies, Inc. (NYSE:PCOR)

Point72 Asset Management L.P. raised its holdings in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 10.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 67,120 shares of the company's stock after acquiring an additional 6,587 shares during the period. Point72 Asset Management L.P.'s holdings in Procore Technologies were worth $5,029,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Parkside Financial Bank & Trust raised its position in shares of Procore Technologies by 61.3% during the 4th 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 last quarter. V Square Quantitative Management LLC raised its position in shares of Procore Technologies by 37.8% during the 4th quarter. V Square Quantitative Management LLC now owns 591 shares of the company's stock valued at $44,000 after acquiring an additional 162 shares during the last quarter. Huntington National Bank raised 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 valued at $49,000 after acquiring an additional 404 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised 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 valued at $54,000 after acquiring an additional 674 shares during the last quarter. Finally, SBI Securities Co. Ltd. bought a new stake in shares of Procore Technologies during the 4th quarter valued at $56,000. Institutional investors own 81.10% of the company's stock.

Procore Technologies Trading Down 1.7%

Procore Technologies stock opened at $69.88 on Tuesday. The firm has a 50-day moving average of $64.92 and a 200-day moving average of $72.75. 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 company has a market cap of $10.42 billion, a price-to-earnings ratio of -97.05 and a beta of 0.90.

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

Analyst Upgrades and Downgrades

Several brokerages have commented on PCOR. JPMorgan Chase & Co. dropped their target price 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. Scotiabank decreased their price target on shares of Procore Technologies from $95.00 to $75.00 and set a "sector outperform" rating for the company in a report on Thursday, April 24th. JMP Securities boosted their price target on shares of Procore Technologies from $90.00 to $95.00 and gave the company a "market outperform" rating in a report on Tuesday, February 18th. UBS Group decreased their price target on shares of Procore Technologies from $110.00 to $87.00 and set a "buy" rating for the company in a report on Thursday, April 24th. Finally, Stifel Nicolaus decreased their price target on shares of Procore Technologies from $93.00 to $75.00 and set a "buy" rating for the company in a report on Friday, May 2nd. Four investment 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 stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $80.24.

Insider Transactions at Procore Technologies

In other news, Director Connor Kevin J. O sold 7,692 shares of the company's stock in a transaction dated Wednesday, May 14th. The shares were sold at an average price of $72.16, for a total value of $555,054.72. Following the sale, the director now directly owns 1,192,900 shares of the company's stock, valued at approximately $86,079,664. This represents a 0.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Iconiq Strategic Partners Ii, sold 1,074 shares of the company's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $87.40, for a total transaction of $93,867.60. Following the completion of the sale, the insider now directly owns 200 shares in the company, valued at approximately $17,480. The trade was a 84.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 69,834 shares of company stock worth $5,181,472 in the last three months. Insiders own 29.00% of the company's stock.

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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