Temasek Holdings Private Ltd Makes New $3.50 Million Investment in Procore Technologies, Inc. (NYSE:PCOR)

Temasek Holdings Private Ltd purchased a new position in Procore Technologies, Inc. (NYSE:PCOR - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 46,702 shares of the company's stock, valued at approximately $3,499,000.

A number of other large investors have also modified their holdings of PCOR. Parkside Financial Bank & Trust grew its stake in 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 purchasing an additional 147 shares in the last quarter. V Square Quantitative Management LLC grew its position in shares of 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 in the last quarter. Huntington National Bank increased its stake in shares of 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 period. Skandinaviska Enskilda Banken AB publ raised its holdings 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 valued at $54,000 after acquiring an additional 674 shares in the last quarter. Finally, SBI Securities Co. Ltd. purchased a new position in Procore Technologies in the fourth quarter worth approximately $56,000. Hedge funds and other institutional investors own 81.10% of the company's stock.

Insider Transactions at Procore Technologies

In other Procore Technologies news, CFO Howard Fu sold 8,000 shares of the firm's stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $87.00, for a total value of $696,000.00. Following the completion of the sale, the chief financial officer now owns 156,188 shares of the company's stock, valued at approximately $13,588,356. This trade represents a 4.87% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CRO Lawrence Joseph Stack sold 12,000 shares of the business's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $82.92, for a total transaction of $995,040.00. Following the sale, the executive now owns 161,368 shares in the company, valued at $13,380,634.56. The trade was a 6.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 69,834 shares of company stock worth $5,181,472 over the last ninety days. 29.00% of the stock is currently owned by company insiders.

Procore Technologies Stock Performance

Procore Technologies stock traded down $0.34 during mid-day trading on Tuesday, reaching $69.60. 960,047 shares of the company were exchanged, compared to its average volume of 1,718,569. The firm's 50-day simple moving average is $65.00 and its two-hundred day simple moving average is $72.73. Procore Technologies, Inc. has a twelve month low of $49.46 and a twelve month high of $88.92. The firm has a market cap of $10.38 billion, a PE ratio of -96.67 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.

Procore Technologies (NYSE:PCOR - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported $0.23 earnings per share for the quarter, topping the consensus estimate of $0.17 by $0.06. The firm had revenue of $310.63 million during the quarter, compared to the consensus estimate of $302.66 million. Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. The company's revenue for the quarter was up 15.3% on a year-over-year basis. During the same period last year, the company earned $0.30 earnings per share. Equities analysts predict that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have commented on PCOR. UBS Group dropped their price objective on shares of Procore Technologies from $110.00 to $87.00 and set a "buy" rating on the stock in a research report on Thursday, April 24th. BMO Capital Markets decreased their price target on Procore Technologies from $95.00 to $75.00 and set an "outperform" rating for the company in a report on Wednesday, April 23rd. JPMorgan Chase & Co. dropped their price objective on Procore Technologies from $97.00 to $85.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. Jefferies Financial Group decreased their target price on Procore Technologies from $100.00 to $90.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Finally, Scotiabank dropped their price target on shares of Procore Technologies from $95.00 to $75.00 and set a "sector outperform" rating on the stock in a research note on Thursday, April 24th. Four analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company 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.