Procore Technologies, Inc. (NYSE:PCOR) Shares Acquired by Rhumbline Advisers

Rhumbline Advisers boosted its holdings in Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 9.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 154,541 shares of the company's stock after purchasing an additional 13,534 shares during the quarter. Rhumbline Advisers owned approximately 0.10% of Procore Technologies worth $10,203,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in PCOR. Parkside Financial Bank & Trust grew its holdings in shares of Procore Technologies by 61.3% in the fourth quarter. Parkside Financial Bank & Trust now owns 387 shares of the company's stock valued at $29,000 after purchasing an additional 147 shares in the last quarter. V Square Quantitative Management LLC lifted its stake in 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 purchasing an additional 162 shares during the last quarter. Huntington National Bank boosted its holdings in 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 period. Skandinaviska Enskilda Banken AB publ grew its holdings in shares of Procore Technologies by 1,434.0% in the fourth 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. Finally, SBI Securities Co. Ltd. purchased a new position in Procore Technologies in the 4th quarter worth about $56,000. 81.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on PCOR shares. Piper Sandler decreased their price objective on shares of Procore Technologies from $110.00 to $75.00 and set an "overweight" rating for the company in a report on Wednesday, April 23rd. Macquarie reduced 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. Mizuho lowered their price target on Procore Technologies from $75.00 to $65.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. Jefferies Financial Group reduced their price objective on Procore Technologies from $100.00 to $90.00 and set a "buy" rating on the stock in a report on Monday, March 31st. Finally, BMO Capital Markets decreased their target price on Procore Technologies from $95.00 to $75.00 and set an "outperform" rating for the company in a research report on Wednesday, April 23rd. Four investment 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 stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $80.24.

Insider Activity at Procore Technologies

In other news, Director Connor Kevin J. O sold 5,128 shares of the company's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $67.10, for a total value of $344,088.80. Following the sale, the director now directly owns 1,226,240 shares of the company's stock, valued at $82,280,704. This represents a 0.42% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Howard Fu sold 1,190 shares of the stock in a transaction on Friday, March 14th. The stock was sold at an average price of $67.00, for a total transaction of $79,730.00. Following the completion of the sale, the chief financial officer now owns 146,160 shares in the company, valued at $9,792,720. The trade was a 0.81% decrease in their position. The disclosure for this sale can be found here. Insiders sold 43,981 shares of company stock valued at $2,941,093 in the last three months. 29.00% of the stock is owned by insiders.

Procore Technologies Stock Down 0.6%

PCOR traded down $0.41 on Tuesday, hitting $67.12. The company had a trading volume of 756,072 shares, compared to its average volume of 1,355,715. The stock has a market capitalization of $10.01 billion, a price-to-earnings ratio of -93.23 and a beta of 0.90. The company has a debt-to-equity ratio of 0.03, a quick ratio of 1.57 and a current ratio of 1.57. The stock has a fifty day moving average price of $64.46 and a 200-day moving average price of $72.39. 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 quarterly earnings results on Thursday, May 1st. The company reported $0.23 earnings per share for the quarter, beating analysts' consensus estimates of $0.17 by $0.06. The business had revenue of $310.63 million for the quarter, compared to analysts' expectations of $302.66 million. Procore Technologies had a negative net margin of 9.20% and a negative return on equity of 5.10%. The company's revenue was up 15.3% compared to the same quarter last year. During the same period last year, the business earned $0.30 EPS. Analysts predict that Procore Technologies, Inc. will post -0.15 EPS for the current fiscal year.

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.