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

GAMMA Investing LLC grew its holdings in Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 10,900.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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 SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. 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 purchasing an additional 147 shares in the last quarter. V Square Quantitative Management LLC boosted its stake in Procore Technologies by 37.8% during the fourth quarter. V Square Quantitative Management LLC now owns 591 shares of the company's stock worth $44,000 after buying an additional 162 shares during the last quarter. Huntington National Bank boosted its stake in Procore Technologies by 161.6% during the fourth quarter. Huntington National Bank now owns 654 shares of the company's stock worth $49,000 after buying an additional 404 shares during the last quarter. Skandinaviska Enskilda Banken AB publ boosted its stake in Procore Technologies by 1,434.0% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 721 shares of the company's stock worth $54,000 after buying an additional 674 shares during the last quarter. Finally, SBI Securities Co. Ltd. acquired a new position in Procore Technologies during the fourth quarter worth $56,000. 81.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Procore Technologies

In other news, CRO Lawrence Joseph Stack sold 1,000 shares of the company's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $65.60, for a total value of $65,600.00. Following the completion of the sale, the executive now owns 217,868 shares of the company's stock, valued at $14,292,140.80. This represents a 0.46% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Howard Fu sold 797 shares of the company's stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $68.99, for a total value of $54,985.03. Following the completion of the sale, the chief financial officer now directly owns 199,067 shares of the company's stock, valued at $13,733,632.33. The trade was a 0.40% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 32,535 shares of company stock valued at $2,171,596. Company insiders own 29.00% of the company's stock.

Procore Technologies Trading Down 2.0%

PCOR stock traded down $1.30 during trading on Friday, reaching $64.02. 1,568,001 shares of the stock traded hands, compared to its average volume of 1,697,876. The business's 50 day moving average price is $64.88 and its 200-day moving average price is $72.21. Procore Technologies, Inc. has a 52-week low of $49.46 and a 52-week 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 $9.55 billion, a PE ratio of -88.92 and a beta of 0.90.

Procore Technologies (NYSE:PCOR - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported $0.23 earnings per share (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 firm had revenue of $310.63 million during the quarter, compared to the consensus estimate of $302.66 million. During the same quarter in the previous year, the business earned $0.30 earnings per share. The firm's quarterly revenue was up 15.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Procore Technologies, Inc. will post -0.15 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently commented on PCOR. Barclays upped their price target on Procore Technologies from $70.00 to $72.00 and gave the company an "equal weight" rating in a research note on Friday, May 2nd. Canaccord Genuity Group raised their price target on Procore Technologies from $83.00 to $97.00 and gave the stock a "buy" rating in a research note on Friday, February 14th. Piper Sandler reduced 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. KeyCorp decreased their target price on Procore Technologies from $96.00 to $77.00 and set an "overweight" rating on the stock in a research report on Monday, April 21st. Finally, UBS Group dropped 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 analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $80.24.

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.