Rhumbline Advisers Buys 13,534 Shares of Procore Technologies, Inc. (NYSE:PCOR)

Rhumbline Advisers raised its position in Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 9.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 154,541 shares of the company's stock after buying an additional 13,534 shares during the period. Rhumbline Advisers owned 0.10% of Procore Technologies worth $10,203,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Parkside Financial Bank & Trust boosted its stake in Procore Technologies by 61.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 387 shares of the company's stock worth $29,000 after purchasing an additional 147 shares during the period. V Square Quantitative Management LLC lifted its holdings in shares of Procore Technologies by 37.8% in 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 in the last quarter. Huntington National Bank boosted its position in shares of Procore Technologies by 161.6% in the fourth 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 period. Skandinaviska Enskilda Banken AB publ grew 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 valued at $54,000 after acquiring an additional 674 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new stake in Procore Technologies during the 4th quarter worth approximately $56,000. 81.10% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Kathryn Bueker sold 7,000 shares of the company's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $72.43, for a total transaction of $507,010.00. Following the transaction, the director now directly owns 16,932 shares of the company's stock, valued at $1,226,384.76. This represents a 29.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Benjamin C. Singer sold 4,203 shares of Procore Technologies stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $68.91, for a total transaction of $289,628.73. Following the completion of the sale, the insider now directly owns 102,057 shares of the company's stock, valued at approximately $7,032,747.87. This trade represents a 3.96% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,535 shares of company stock worth $2,171,596. Insiders own 29.00% of the company's stock.

Procore Technologies Stock Down 2.0%

Shares of NYSE:PCOR traded down $1.30 during trading on Friday, hitting $64.02. The stock had a trading volume of 1,568,001 shares, compared to its average volume of 1,697,876. The company has a market capitalization of $9.55 billion, a PE ratio of -88.92 and a beta of 0.90. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of 0.03. The firm's fifty day moving average is $64.88 and its 200 day moving average is $72.21. Procore Technologies, Inc. has a 12 month low of $49.46 and a 12 month high of $88.92.

Procore Technologies (NYSE:PCOR - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported $0.23 earnings per share 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 firm had revenue of $310.63 million for the quarter, compared to the consensus estimate of $302.66 million. During the same period in the prior year, the firm earned $0.30 EPS. The company's revenue was up 15.3% compared to the same quarter last year. Analysts anticipate that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have commented on PCOR shares. Stifel Nicolaus cut 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. Scotiabank dropped their price objective on Procore Technologies from $95.00 to $75.00 and set a "sector outperform" rating for the company in a research note on Thursday, April 24th. UBS Group decreased their target price on Procore Technologies from $110.00 to $87.00 and set a "buy" rating on the stock in a research note on Thursday, April 24th. JPMorgan Chase & Co. reduced their target price on Procore Technologies from $97.00 to $85.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. Finally, Jefferies Financial Group lowered their price objective 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. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $80.24.

About Procore Technologies

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.