Vanderbilt University Buys 7,861 Shares of Procore Technologies, Inc. (NYSE:PCOR)

Vanderbilt University lifted its holdings in shares of Procore Technologies, Inc. (NYSE:PCOR - Free Report) by 15.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 57,736 shares of the company's stock after purchasing an additional 7,861 shares during the quarter. Procore Technologies makes up about 0.7% of Vanderbilt University's holdings, making the stock its 27th biggest position. Vanderbilt University's holdings in Procore Technologies were worth $3,812,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Parkside Financial Bank & Trust grew its stake in Procore Technologies by 61.3% in the 4th quarter. Parkside Financial Bank & Trust now owns 387 shares of the company's stock valued at $29,000 after buying an additional 147 shares during the last quarter. Huntington National Bank grew its stake in Procore Technologies by 161.6% in the 4th quarter. Huntington National Bank now owns 654 shares of the company's stock valued at $49,000 after buying an additional 404 shares during the last quarter. Skandinaviska Enskilda Banken AB publ grew its stake in Procore Technologies by 1,434.0% in the 4th quarter. Skandinaviska Enskilda Banken AB publ now owns 721 shares of the company's stock valued at $54,000 after buying an additional 674 shares during the last quarter. SBI Securities Co. Ltd. acquired a new position in Procore Technologies in the 4th quarter valued at $56,000. Finally, Aster Capital Management DIFC Ltd grew its stake in Procore Technologies by 181.9% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 843 shares of the company's stock valued at $63,000 after buying an additional 544 shares during the last quarter. Institutional investors and hedge funds own 81.10% of the company's stock.

Insider Transactions at Procore Technologies

In related news, major shareholder Iconiq Strategic Partners Iv, sold 116,365 shares of Procore Technologies stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $64.76, for a total transaction of $7,535,797.40. Following the completion of the transaction, the insider now directly owns 1,893,458 shares of the company's stock, valued at $122,620,340.08. This trade represents a 5.79% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Connor Kevin J. O sold 7,692 shares of Procore Technologies stock in a transaction dated Tuesday, June 17th. The shares were sold at an average price of $65.34, for a total transaction of $502,595.28. Following the transaction, the director now directly owns 1,177,516 shares of the company's stock, valued at $76,938,895.44. This represents a 0.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 659,616 shares of company stock valued at $42,781,416. Company insiders own 29.00% of the company's stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on PCOR. Macquarie lowered their target price on shares of 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 lowered their target price on shares of Procore Technologies from $95.00 to $75.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 23rd. DA Davidson upgraded shares of Procore Technologies to a "hold" rating in a research note on Tuesday, May 13th. Stifel Nicolaus lowered their target price on shares of Procore Technologies from $93.00 to $75.00 and set a "buy" rating on the stock in a research note on Friday, May 2nd. Finally, KeyCorp lowered their target price on shares of Procore Technologies from $96.00 to $77.00 and set an "overweight" rating on the stock in a research note on Monday, April 21st. Four analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $80.83.

Procore Technologies Price Performance

Shares of NYSE:PCOR traded down $0.28 during midday trading on Monday, reaching $66.31. 1,432,910 shares of the company's stock were exchanged, compared to its average volume of 1,683,829. The company's 50 day simple moving average is $65.68 and its two-hundred day simple moving average is $71.27. The firm has a market capitalization of $9.89 billion, a PE ratio of -77.11 and a beta of 0.90. 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 0.02, a quick ratio of 1.19 and a current ratio of 1.19.

Procore Technologies (NYSE:PCOR - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported $0.23 EPS for the quarter, topping analysts' consensus estimates of $0.17 by $0.06. The company had revenue of $310.63 million during the quarter, compared to the consensus estimate of $302.66 million. Procore Technologies had a negative net margin of 10.73% and a negative return on equity of 6.54%. The firm's revenue for the quarter was up 15.3% compared to the same quarter last year. During the same period last year, the firm earned $0.30 EPS. Equities research analysts expect that Procore Technologies, Inc. will post -0.15 earnings per share for the current fiscal year.

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.