Procore Technologies, Inc. (NYSE:PCOR) Shares Purchased by Spyglass Capital Management LLC

Spyglass Capital Management LLC raised its position in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 12.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,048,154 shares of the company's stock after acquiring an additional 112,258 shares during the period. Procore Technologies makes up approximately 4.4% of Spyglass Capital Management LLC's holdings, making the stock its 10th biggest holding. Spyglass Capital Management LLC owned approximately 0.71% of Procore Technologies worth $78,538,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of PCOR. Parkside Financial Bank & Trust raised its holdings 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 worth $29,000 after acquiring an additional 147 shares in the last quarter. V Square Quantitative Management LLC lifted its position 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 buying an additional 162 shares during the last quarter. Huntington National Bank lifted its position in Procore Technologies by 161.6% in 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 lifted its position in 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 buying an additional 674 shares during the last quarter. Finally, SBI Securities Co. Ltd. bought a new stake in Procore Technologies in the fourth quarter worth $56,000. 81.10% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Procore Technologies

In other news, CRO Lawrence Joseph Stack sold 1,000 shares of the business's stock in a transaction dated Friday, May 9th. The stock was sold at an average price of $65.60, for a total transaction of $65,600.00. Following the sale, the executive now owns 217,868 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Benjamin C. Singer sold 6,937 shares of the business's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $83.60, for a total value of $579,933.20. Following the sale, the insider now owns 72,110 shares in the company, valued at $6,028,396. The trade was a 8.78% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 60,760 shares of company stock valued at $4,391,604 over the last quarter. 29.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on PCOR shares. Piper Sandler lowered their price target on Procore Technologies from $110.00 to $75.00 and set an "overweight" rating for the company in a research report on Wednesday, April 23rd. Macquarie reduced their target price on Procore Technologies from $93.00 to $75.00 and set a "neutral" rating on the stock in a research note on Thursday, March 13th. BMO Capital Markets reduced their target price on Procore Technologies from $95.00 to $75.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. Mizuho reduced their target price on Procore Technologies from $75.00 to $65.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. Finally, 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. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $80.24.

Procore Technologies Stock Down 3.4%

Shares of Procore Technologies stock traded down $2.37 during trading on Wednesday, hitting $67.26. 1,000,539 shares of the stock traded hands, compared to its average volume of 1,718,540. The firm has a market cap of $10.03 billion, a P/E ratio of -93.42 and a beta of 0.90. 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, Inc. has a 52-week low of $49.46 and a 52-week high of $88.92. The stock's fifty day simple moving average is $64.98 and its 200 day simple moving average is $72.69.

Procore Technologies (NYSE:PCOR - Get Free Report) last issued its quarterly earnings data 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. 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 quarter last year, the company earned $0.30 earnings per share. The firm's revenue for the quarter was up 15.3% compared to the same quarter last year. On average, equities analysts predict that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

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.