Two Star Manager LLC Increases Stock Holdings in Procore Technologies, Inc. (NYSE:PCOR)

Two Star Manager LLC raised its stake in Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 62.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 100,345 shares of the company's stock after purchasing an additional 38,624 shares during the quarter. Procore Technologies accounts for 3.5% of Two Star Manager LLC's portfolio, making the stock its 15th biggest position. Two Star Manager LLC owned 0.07% of Procore Technologies worth $7,519,000 as of its most recent filing with the SEC.

Other hedge funds have also recently made changes to their positions in the company. US Bancorp DE raised its holdings in Procore Technologies by 18.8% in the fourth quarter. US Bancorp DE now owns 21,416 shares of the company's stock worth $1,605,000 after purchasing an additional 3,390 shares in the last quarter. Raymond James Financial Inc. bought a new position in Procore Technologies in the fourth quarter worth $20,729,000. Barclays PLC raised its holdings in Procore Technologies by 49.1% in the third quarter. Barclays PLC now owns 69,012 shares of the company's stock worth $4,259,000 after purchasing an additional 22,734 shares in the last quarter. SBI Securities Co. Ltd. bought a new position in Procore Technologies in the fourth quarter worth $56,000. Finally, KBC Group NV raised its holdings in Procore Technologies by 1,550.7% in the fourth quarter. KBC Group NV now owns 44,933 shares of the company's stock worth $3,367,000 after purchasing an additional 42,211 shares in the last quarter. 81.10% of the stock is owned by hedge funds and other institutional investors.

Procore Technologies Stock Performance

Shares of PCOR stock traded down $2.37 during trading hours on Wednesday, reaching $67.26. 1,000,539 shares of the company traded hands, compared to its average volume of 1,718,539. Procore Technologies, Inc. has a 12-month low of $49.46 and a 12-month high of $88.92. 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 company has a market cap of $10.03 billion, a P/E ratio of -93.42 and a beta of 0.90. The firm has a 50-day moving average price of $65.00 and a 200 day moving average price of $72.73.

Procore Technologies (NYSE:PCOR - Get Free Report) last posted 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. The firm had revenue of $310.63 million for 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%. The business's quarterly revenue was up 15.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.30 EPS. As a group, sell-side analysts predict that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

Insider Activity at Procore Technologies

In other Procore Technologies news, CRO Lawrence Joseph Stack sold 12,000 shares of Procore Technologies stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $82.92, for a total value of $995,040.00. Following the sale, the executive now owns 161,368 shares of the company's stock, valued at $13,380,634.56. The trade was a 6.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Benjamin C. Singer sold 6,937 shares of Procore Technologies stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $83.60, for a total value of $579,933.20. Following the completion of the sale, the insider now directly owns 72,110 shares in the company, valued at approximately $6,028,396. The trade was a 8.78% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 60,760 shares of company stock valued at $4,391,604. 29.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms recently commented on PCOR. Mizuho dropped their price objective on Procore Technologies from $75.00 to $65.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. JMP Securities increased their price objective on Procore Technologies from $90.00 to $95.00 and gave the company a "market outperform" rating in a research report on Tuesday, February 18th. Macquarie dropped their target price on Procore Technologies from $93.00 to $75.00 and set a "neutral" rating on the stock in a research report on Thursday, March 13th. Piper Sandler dropped their target price on Procore Technologies from $110.00 to $75.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 23rd. Finally, JPMorgan Chase & Co. dropped their target price on Procore Technologies from $97.00 to $85.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. Four equities research analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Procore Technologies presently has a consensus rating of "Moderate Buy" and a consensus price target 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.