Tidal Investments LLC Lowers Stock Position in Procore Technologies, Inc. (NYSE:PCOR)

Tidal Investments LLC lessened its stake in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 65.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,119 shares of the company's stock after selling 11,419 shares during the period. Tidal Investments LLC's holdings in Procore Technologies were worth $458,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Chicago Partners Investment Group LLC lifted its position in shares of Procore Technologies by 0.8% during the 4th quarter. Chicago Partners Investment Group LLC now owns 15,707 shares of the company's stock valued at $1,199,000 after acquiring an additional 129 shares during the period. Parkside Financial Bank & Trust raised its holdings in Procore Technologies by 61.3% during the fourth quarter. Parkside Financial Bank & Trust now owns 387 shares of the company's stock worth $29,000 after buying an additional 147 shares during the last quarter. V Square Quantitative Management LLC raised its holdings in 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 during the last quarter. Covestor Ltd raised its holdings in Procore Technologies by 15.1% during the fourth quarter. Covestor Ltd now owns 1,571 shares of the company's stock worth $118,000 after buying an additional 206 shares during the last quarter. Finally, OneDigital Investment Advisors LLC raised its holdings in Procore Technologies by 4.3% during the fourth quarter. OneDigital Investment Advisors LLC now owns 5,438 shares of the company's stock worth $407,000 after buying an additional 225 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on PCOR shares. JPMorgan Chase & Co. lowered their price objective on shares of Procore Technologies from $97.00 to $85.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. Macquarie reduced their target price on shares of Procore Technologies from $93.00 to $75.00 and set a "neutral" rating for the company in a research note on Thursday, March 13th. Mizuho reduced their target price on shares of Procore Technologies from $75.00 to $65.00 and set a "neutral" rating for the company in a research note on Tuesday, April 15th. Barclays upped their target price on shares of Procore Technologies from $70.00 to $72.00 and gave the stock an "equal weight" rating in a research note on Friday, May 2nd. Finally, Canaccord Genuity Group upped their target price on shares of Procore Technologies from $83.00 to $97.00 and gave the stock a "buy" rating in a research note on Friday, February 14th. Four research 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 data from MarketBeat.com, Procore Technologies currently has an average rating of "Moderate Buy" and a consensus price target of $80.24.

Procore Technologies Stock Performance

NYSE:PCOR traded up $1.58 on Tuesday, reaching $67.25. 1,098,349 shares of the company's stock were exchanged, compared to its average volume of 1,710,307. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.57 and a quick ratio of 1.57. The firm has a market cap of $10.03 billion, a price-to-earnings ratio of -93.41 and a beta of 0.90. Procore Technologies, Inc. has a 52 week low of $49.46 and a 52 week high of $88.92. The stock has a fifty day simple moving average of $64.43 and a 200-day simple moving average of $72.52.

Procore Technologies (NYSE:PCOR - Get Free Report) last issued 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. The firm had revenue of $310.63 million during the quarter, compared to analyst estimates 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 quarterly revenue was up 15.3% on a year-over-year basis. During the same quarter last year, the business earned $0.30 earnings per share. As a group, sell-side analysts predict that Procore Technologies, Inc. will post -0.15 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Benjamin C. Singer sold 4,203 shares of the stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $68.91, for a total value of $289,628.73. Following the sale, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Connor Kevin J. O sold 7,700 shares of the firm's stock in a transaction that occurred on Wednesday, April 9th. The shares were sold at an average price of $56.67, for a total transaction of $436,359.00. Following the completion of the sale, the director now directly owns 1,208,284 shares in the company, valued at $68,473,454.28. This represents a 0.63% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 43,981 shares of company stock worth $2,941,093 over the last quarter. 29.00% of the stock is currently owned by company insiders.

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.