GAMMA Investing LLC Raises Holdings in Procore Technologies, Inc. (NYSE:PCOR)

GAMMA Investing LLC grew its position in Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 10,900.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 82,063 shares of the company's stock after buying an additional 81,317 shares during the quarter. GAMMA Investing LLC owned 0.05% of Procore Technologies worth $5,418,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Parkside Financial Bank & Trust increased its position in shares of Procore Technologies by 61.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 387 shares of the company's stock worth $29,000 after acquiring an additional 147 shares during the period. V Square Quantitative Management LLC increased its holdings in Procore Technologies by 37.8% during the 4th quarter. V Square Quantitative Management LLC now owns 591 shares of the company's stock worth $44,000 after purchasing an additional 162 shares during the period. Huntington National Bank raised its position in Procore Technologies by 161.6% in the 4th quarter. Huntington National Bank now owns 654 shares of the company's stock valued at $49,000 after purchasing an additional 404 shares in the last quarter. Skandinaviska Enskilda Banken AB publ boosted its stake in shares of Procore Technologies by 1,434.0% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 721 shares of the company's stock valued at $54,000 after buying an additional 674 shares during the period. Finally, SBI Securities Co. Ltd. acquired a new position in shares of Procore Technologies during the fourth quarter worth about $56,000. 81.10% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CRO Lawrence Joseph Stack sold 1,000 shares of Procore Technologies stock in a transaction on Friday, May 9th. The stock was sold at an average price of $65.60, for a total transaction of $65,600.00. Following the completion of the transaction, the executive now directly owns 217,868 shares of the company's stock, valued at approximately $14,292,140.80. The trade was a 0.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Howard Fu sold 1,190 shares of the company's stock in a transaction on Friday, March 14th. The shares were sold at an average price of $67.00, for a total value of $79,730.00. Following the completion of the sale, the chief financial officer now directly owns 146,160 shares in the company, valued at $9,792,720. This trade represents a 0.81% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 43,981 shares of company stock valued at $2,941,093 over the last quarter. Corporate insiders own 29.00% of the company's stock.

Procore Technologies Stock Performance

Shares of PCOR traded down $0.41 during mid-day trading on Tuesday, hitting $67.12. 756,072 shares of the company's stock were exchanged, compared to its average volume of 1,355,715. The firm has a market capitalization of $10.01 billion, a P/E ratio of -93.23 and a beta of 0.90. Procore Technologies, Inc. has a fifty-two week low of $49.46 and a fifty-two week high of $88.92. The business's 50 day moving average is $64.46 and its two-hundred day moving average is $72.39. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 0.03.

Procore Technologies (NYSE:PCOR - Get Free Report) last announced its earnings results 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 return on equity of 5.10% and a negative net margin of 9.20%. The company had revenue of $310.63 million for the quarter, compared to the consensus estimate of $302.66 million. During the same period last year, the business posted $0.30 EPS. The company's 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 year.

Analyst Ratings Changes

Several research analysts have commented on PCOR shares. JMP Securities boosted their price target on shares of Procore Technologies from $90.00 to $95.00 and gave the stock a "market outperform" rating in a report on Tuesday, February 18th. Mizuho lowered their target price on shares of Procore Technologies from $75.00 to $65.00 and set a "neutral" rating for the company in a research note on Tuesday, April 15th. JPMorgan Chase & Co. dropped their target price on Procore Technologies from $97.00 to $85.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. Piper Sandler decreased 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. Finally, UBS Group decreased their target price 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. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Procore Technologies presently has a consensus rating of "Moderate Buy" and an average target price of $80.24.

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.