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

Temasek Holdings Private Ltd bought a new stake in Procore Technologies, Inc. (NYSE:PCOR - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 46,702 shares of the company's stock, valued at approximately $3,499,000.

A number of other hedge funds have also recently added to or reduced their stakes in PCOR. Barclays PLC boosted its holdings in shares of Procore Technologies by 49.1% in the third quarter. Barclays PLC now owns 69,012 shares of the company's stock valued at $4,259,000 after acquiring an additional 22,734 shares during the period. Park Avenue Securities LLC raised its position in Procore Technologies by 71.5% in the 4th quarter. Park Avenue Securities LLC now owns 12,713 shares of the company's stock valued at $953,000 after purchasing an additional 5,299 shares during the last quarter. Procyon Advisors LLC acquired a new stake in Procore Technologies during the 4th quarter worth $242,000. Ellsworth Advisors LLC boosted its stake in Procore Technologies by 10.5% during the 4th quarter. Ellsworth Advisors LLC now owns 8,355 shares of the company's stock worth $626,000 after purchasing an additional 794 shares during the period. Finally, SG Americas Securities LLC purchased a new position in Procore Technologies during the 4th quarter worth $788,000. Hedge funds and other institutional investors own 81.10% of the company's stock.

Procore Technologies Price Performance

PCOR stock traded up $0.14 during trading on Friday, reaching $67.81. 254,946 shares of the company were exchanged, compared to its average volume of 1,710,496. 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 quick ratio of 1.57 and a current ratio of 1.57. The company has a market cap of $10.12 billion, a P/E ratio of -94.17 and a beta of 0.90. The stock's 50 day moving average price is $64.93 and its 200 day moving average price is $72.70.

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 (EPS) 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 analysts' expectations of $302.66 million. Procore Technologies had a negative return on equity of 5.10% and a negative net margin of 9.20%. Procore Technologies's revenue was up 15.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.30 earnings per share. As a group, analysts predict that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Barclays upped their target price on shares of Procore Technologies from $70.00 to $72.00 and gave the company an "equal weight" rating in a report on Friday, May 2nd. Scotiabank dropped their price target on Procore Technologies from $95.00 to $75.00 and set a "sector outperform" rating on the stock in a research report on Thursday, April 24th. JPMorgan Chase & Co. reduced their price objective on Procore Technologies from $97.00 to $85.00 and set an "overweight" rating for the company in a research note on Wednesday, April 9th. Macquarie lowered 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. Finally, BMO Capital Markets lowered 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. 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. According to MarketBeat.com, Procore Technologies presently has an average rating of "Moderate Buy" and an average price target of $80.24.

Insider Transactions at Procore Technologies

In related news, CFO Howard Fu sold 797 shares of Procore Technologies stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $68.99, for a total transaction of $54,985.03. Following the completion of the transaction, the chief financial officer now directly owns 199,067 shares in the company, valued at $13,733,632.33. The trade was a 0.40% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Benjamin C. Singer sold 4,203 shares of the company's stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $68.91, for a total transaction of $289,628.73. Following the transaction, the insider now directly owns 102,057 shares of the company's stock, valued at approximately $7,032,747.87. This represents a 3.96% decrease in their position. The disclosure for this sale can be found here. Insiders sold 46,623 shares of company stock valued at $3,144,659 in the last 90 days. 29.00% of the stock is currently owned by insiders.

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.